BDO beats 2019 profit goal

BDO president Nestor Tan

The country’s leading lender BDO Unibank racked up P44.2 billion in net profit last year, beating its own profit goal by 15 percent.

The 2019 bottomline marked a 35 percent increase from the previous year on the back of robust core businesses alongside large treasury gains.

The 2019 results exceeded BDO’s P38.5 billion net profit guidance and translated to a return on common equity of 12.8 percent, improving from 10.7 percent the year before, BDO disclosed to the Philippine Stock Exchange on Thursday.