BDO nets P32.1 B net profit in first 9 months

MANILA,Philippines –  The country’s leading lender BDO Unibank grew its net profit in the first nine months by 49.3 percent year-on-year to P32.1 billion on higher interest earnings and treasury gains.

This translated to a return on common equity of 12.5 percent, compared to 9.5 percent in the same period last year, BDO disclosed to the Philippine Stock Exchange on Monday.

The bank grew its loan book by 6 percent year-on-year to P2.1 trillion, led by the sustained growth in the middle-market and consumer segments.

On the funding side, BDO’s total deposits went up by 3 percent to P2.4 trillion, with low-cost deposits rising by 6 percent and accounting for 72 percent of total deposits./gsg