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BDO’s first-half net income reaches P35.2 billion

BDO Unibank, Inc. (BDO) posted earnings of P35.2 billion for the first half of 2023, driven by broad-based growth across its core businesses. This translated to a Return on Common Equity of 15.1% compared to 11.3% in the comparable period last year.

Net Interest Income rose to P89.5 billion as Gross Customer Loans expanded 8% year-on-year to P2.7 trillion while Deposit Liabilities broadened 12% to P3.3 trillion. Non-Interest Income grew 11% to P38.2 billion due to robust growth in various fee-based and treasury/FX businesses.

Pre-Provision Operating Profit settled at P52.4 billion, with revenues continuing to grow faster than operating expenses.

Non-Performing Loan (NPL) ratio dipped quarter-on-quarter to 1.95% from 1.98% while NPL coverage improved to 174% with prudent credit and provisioning policies.

Shareholders’ Equity increased to P487.5 billion given profitable operations. Capital Adequacy Ratio and Common Equity Tier 1 (CET1) Ratio strengthened to 15% and 13.9%, respectively, and remain comfortably above regulatory minimum levels. Book Value Per Share increased 13% to P91.42.

With improving macro-economic trends exemplified by decelerating inflation, sustained GDP growth, and stable foreign exchange and interest rates, the Bank remains poised to capitalize on emerging growth opportunities given its solid balance sheet, strong business franchise, and diversified earnings streams. (UnliNews Online)

Manny D. Balbin
Manny D. Balbin
Emmanuel "Manny" Dineros Balbin, founder and editor-in-chief of UNLINEWS ONLINE and UNLINEWS Digital Newspaper, is a former seminarian of Oblates of Mary Immaculate (OMI) in Notre Dame University Seminary in Cotabato City. Graduated college with Philosophy and Political Science courses at the University of Santo Tomas, Legazpi City. A former Journal Group of Publication (People's Journal, People's Tonight, Taliba & Women's Journal) staffer for 17 years. Before, he simultaneously contributed news articles to 3 local newspapers in Bulacan (NewsCore, MetroNews & NewsWatcher). He is the founder and the former editor-in-chief of RONDA Balita, both in weekly newspaper and online news. A former Kabayan provincial reporter, 2010 Bulacan election correspondent by Rappler and presently, a stringer of Philippine News Agency (PNA) Bulacan.


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