THE COUNTRY’S largest lender BDO Unibank grew its first semester net profit by 13 percent year-on-year to P13.2 billion, buoyed by improvement in core businesses and one-time gain from the consolidation of insurance business.
Core lending, deposit-taking and fee-based businesses had driven the bank’s performance during the period, BDO disclosed to the Philippine Stock Exchange on Monday.
BDO expanded its loan book by 21 percent year-on-year to end the semester at P1.4 trillion, outpacing the industry’s loan growth.
On the funding side, total deposits rose by 17 percent year-on-year to P1.8 trillion.
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