BDO posts record profit

BDO UNIBANK Inc. posted record-high profit of P25 billion in 2015, beating the earnings posted by all other local banks during the year.

The banking giant also achieved another milestone by ending last year with assets breaching the P2-trillion mark, the first Philippine bank to do so.

Based on a disclosure to the Philippine Stock Exchange, the bank grew its net profit last year by 10 percent to P25 billion, matching its earnings guidance for the year despite a challenging operating environment. This was buoyed by an improvement in both interest and non-interest earnings.

BDO’s profit last year exceeded those of its rivals: Metropolitan Bank and Trust Co. and Bank of the Philippine Islands which respectively earned P18.6 billion and P18.23 billion.

Its customer loan portfolio grew by 17 percent to P1.3 trillion, outpacing the industry’s growth of 13 percent.

Net interest income hit P57 billion, up by 1.13 percent from year-ago level.