BDO Unibank Inc., the Philippines’ largest bank in terms of assets, announced a net income of ₱63.6 billion for the first nine months of the year, showing an increase from ₱63.1 billion recorded during the same period in the previous year.
In an official disclosure to the Philippine Stock Exchange, the Sy-led financial institution noted that the financial results reflect consistent strength throughout its primary banking sectors, despite facing a difficult economic environment.
The bank achieved a return on equity of 13.1% for the nine-month stretch, supported by an 11% year-on-year growth in net interest income. This growth was driven by a 16% expansion in the gross customer loan portfolio, which reached ₱4.1 trillion.
BDO’s credit growth spanned across all operating segments, outperforming the national banking industry average of 11%.
Total deposits experienced an 11% year-on-year increase, while low-cost current and savings account (CASA) deposits went up by 5%. Meanwhile, non-interest income recorded a 3% improvement. Pre-provision operating profit climbed 10%, aided by strong lending momentum and disciplined cost control that maintained operating expense growth in the single digits.
Asset quality also saw improvements alongside credit growth, with the bank’s non-performing loan (NPL) ratio improving to 1.6% as of September 30, down from 1.77% the year prior. BDO maintained a robust non-performing loan coverage ratio at 132%. Capital buffers stayed resilient, as shareholders’ equity rose by 6%, pushing the book value per share up by 6% to ₱123.6. The bank’s Common Equity Tier 1 ratio was reported at 12.6%.
In separate corporate developments, BDO’s board of directors greenlit an expansion of the unissued portion of the bank’s Peso Bond Program to ₱500 billion during a regular board meeting held on Friday, October 30.
BDO emphasized that it remains well-positioned to handle shifting market conditions and seize growth opportunities, supported by its diversified business model and vast network.
The bank currently operates a network of over 2,000 consolidated branches and more than 8,000 automated teller machines nationwide, alongside 15 international offices spanning Asia, Europe, North America, and the Middle East.