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 stood at 69%.
Non-Interest Income grew by 13%, supported by healthy growth in fee income, treasury, and the continued recovery in life insurance premiums.
Asset quality remained stable despite elevated interest rates. 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 Bonds last July 24, 2024, raising ₱55.7 billion to finance and/or refinance eligible projects to further aid the country’s sustainable development.
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.
