BDO nets P13.2B

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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