BDO Unibank, Inc. (BDO) posted net earnings of ₱39.4 billion in the first half of 2024, 12% higher year-on-year, on the stronger momentum from its core intermediation and fee-based service businesses. Annualized Return on Common Equity (ROCE) improved from 14.3% in the first quarter to 15.8% in the second quarter.
Gross Customer Loans expanded by 13% across all market segments, while total deposits rose by 13%. BDO’s Current Account/Savings Account (CASA) ratio was 69%.
Non-interest income grew by 13%, supported by healthy growth in fee income and treasury and the continued recovery in life insurance premiums.
Asset quality remained stable despite elevated interest rates. The non-performing loan (NPL) ratio settled at 2.06%, while NPL coverage stood at 169%, better than the industry average.
Shareholders’ equity strengthened 12% on profitable operations, with book value per share expanding 12% YoY to ₱102.22.
The Bank successfully issued its third ASEAN Sustainability Bond last July 24, raising ₱55.7 billion to finance and refinance eligible projects to aid the country’s sustainable development further.
BDO’s robust business franchise and strong balance sheet place the Bank in a suitable position to capitalize on emerging opportunities to sustain attractive long-term growth and profitability.
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