BDO Unibank, Inc. Reported P39.4 Billion in Net Income in H1-2024

​BDO Unibank, Inc. (BDO) posted net earnings of P39.4 billion in the first half of 2024, 12% higher year-on-year, on the stronger momentum from its core intermediation and fee-based service businesses. Annualized Return on Common Equity (ROCE) improved from 14.3% in the first quarter to 15.8% in the second quarter.

Gross Customer Loans expanded by 13% across all market segments, while total deposits rose 13%. BDO's Current Account/Savings Account (CASA) ratio stood at 69%.

Non-Interest Income grew by 13%, supported by healthy growth in fee income, treasury and the continued recovery in life insurance premiums.

Asset quality remained stable despite elevated interest rates. Non-Performing Loan (NPL) ratio settled at 2.06% while NPL coverage stood at 169%, better than the industry average.

Shareholders' equity strengthened 12% on profitable operations, with book value per share expanding 12% YoY to P102.22.

The Bank successfully issued its third ASEAN Sustainability Bonds last July 24, 2024 raising P55.7 billion to finance and/or refinance eligible projects to further aid the country's sustainable development.

BDO's robust business franchise and strong balance sheet place the Bank in a suitable position to capitalize on emerging opportunities to sustain attractive long-term growth and profitability.

BDO is a full-service universal bank which provides a wide range of corporate and retail services such as loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking and microfinance, cash management, leasing and finance, remittance, life insurance, property & casualty insurance brokerage, cash cards, credit cards, and online and non-online stock brokerage services.

BDO has the country's largest distribution network, with over 1,700 consolidated operating branches and more than 5,500 teller machines nationwide. It also has 16 international offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.

The Bank also offers digital banking solutions to make banking easier, faster, and more secure for its clients.

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of March 31, 2024.