BDO 2024 income reaches P82 billion
MANILA, Philippines — Strength across its core businesses buoyed the 2024 earnings of Sy family-led BDO Unibank Inc. by 12 percent to P82 billion.
In a stock exchange filing on Monday, BDO, the country’s largest lender, said its customer loans climbed by 13 percent to P3.2 trillion, driven by growth in all segments.
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Net interest income and noninterest income each grew by 8 percent.
Despite its loan portfolio expansion, its nonperforming loans ratio, a key indicator of asset quality, eased to 1.83 percent from 1.85 percent previously.
BDO, the banking arm of the SM Group, opened 71 branches last year, the majority of which were in provincial areas.
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