BREAKING: Explosions were heard as fire breaks out at Camp Evangelista in Cagayan de Oro 
  • Home
  • News
    • Bukidnon
    • Camiguin
    • Lanao Del Norte
    • Misamis Occidental
    • Misamis Oriental
    • Cagayan de Oro City
    • National News
  • Business
  • Lifestyle/Leisure
  • Tourism
  • Daily Balita
  • Sports
  • About Us
  • Entertainment
  • Contact Us

BDO 1Q income up 13% to ₱11.7 billion

April 23, 2022 at 4:29 pm, No comments

BDO Unibank, Inc. (BDO) posted a 13% year-on-year (YoY) increase in net income to P11.7 billion for the 1Q 2022, driven by the Bank’s core businesses.    

Loan portfolio rose by 7% to P2.4 trillion on strong demand from corporate borrowers, the recovery in the middle market, and the resilience of the consumer segment. Deposits went up to P2.8 trillion driven by the 11% YoY increase in Current Account/Savings Account (CASA) deposits, now comprising ~86% of total deposits. This resulted in net interest income of P33.9 billion, 6% higher than a year-ago.

Non-interest income increased by 9% to P16.7 billion, driven by fees and insurance premiums. Trading and forex gains were in line with normalized business levels.

Operating expense (OPEX) growth was manageable at 3% YoY to P31.8 billion.

Asset quality continued to improve with NPL ratio down to 2.72% from 2.81% last year. The Bank maintained its conservative credit and provisioning policy with provisions at P3.7 billion compared to P2.9 billion a year-ago, resulting in higher NPL coverage at 120.8%

Total capital base strengthened to ₱429.9 billion, with the Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET1) Ratio both increasing to 14.6% and 13.5%, respectively, comfortably above regulatory minimum.

BDO’s Return on Common Equity (ROCE) for the 1Q 2022 increased to 11.09% from 10.56% in the same period last year. The Bank’s Book Value per common share rose to P96.47 as of end-March 2022 for a 7% year-on-year growth.

BDO’s sustained earnings performance, robust business franchise, and solid capital base place the Bank in a good position for long-term sustainable growth. (PR)


Key highlights are: Core businesses maintain their growth momentum, and Asset quality improves with economic reopening and increased mobility.


No comments

Leave a reply







Recent Posts

  • PhilHealth expands coverage to144 sessions
    9 Aug, 2022
  • Fake lawyer nabbed in Cagayan de Oro
    4 Aug, 2022
  • Interior secretary leads turnover of cash assistance to ex-rebels in Northern Mindanao
    3 Aug, 2022
  • Bill seeking to double monthly pension for senior citizens lapses into law
    3 Aug, 2022
  • Bukidnon solon files bill to convert Manolo Fortich into a city
    3 Aug, 2022
  • CdeO cops to beef up intelligence network
    2 Aug, 2022
  • Robbery suspect nabbed in drug bust
    2 Aug, 2022

NMDS PROGRAM

EVERY FRIDAY AT 6PM

EVERY THURSDAY AT 5PM

SOON...