BDO Unibank Inc. recorded profit of P23.9 billion in the first half of the year, up 12 percent from a year ago, on a strong performance of its core businesses.
Customer loan portfolio went up 9 percent, funded by an 11 percent rise in CASA (current account/ savings account) deposits which now comprise 85 percent of total deposits.
“Non-interest income expanded to P34.3 billion, lifted by the strong expansion in fees and insurance premiums,” it said.
“Pre-provision operating profit was up to P39.2 billion reflective of the strength of core income sources amid tempered rise in operating expense,” BDO added.
The Sy-controlled lender said its non-performing loan ration is down to 2.39 percent from 2.72 percent in the first quarter, and from 3.12 percent a year-ago.
“The bank continues to roll out new digital capabilities and self-service technologies across branches to make banking services more accessible, easier to use and operationally efficient. These branch innovations include paperless straight through processing capability, covering 80 percent of branch transactions, and card less automated teller machine (ATM) transactions using biometrics (fingerprint scan or facial recognition) and QR codes,” BDO said.
BDO said it is now also offering its mobile wallet, BDO Pay, to non-BDO account holders.
