BDO Unibank Inc. said its had a net income of P16.5 billion in the first three months of the year, some 40 percent higher than the previous year’s P11.73 billion, on broad-based growth across its businesses.
BDO Unibank Inc. on Tuesday said its had a net income of P16.5 billion in the first three months of the year, some 40 percent higher than the previous year’s P11.73 billion, on broad-based growth across its businesses.Gross customer loans increased 8 percent to P2.6 trillion, while total deposits expanded 14 percent to P3.2 trillion.
Net interest income grew to P43.4 billion while non-interest income rose to P18.9 billion, bolstered by solid growth in the various fee-based as well as treasury and foreign exchange businesses. The bank also sustained its information technology investments and branch expansion with 97 new branches opened since last year.
Non-performing loan ratio improved to 1.98 percent from 2.72 percent last year, while NPL coverage increased from 120 percent to 170 percent year-on-year, as the bank maintained its conservative credit and provisioning policies.
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