February 26, 2013

BDO Set New Record income of 36% in 2012 to P14.3B

BDO Unibank Inc. (BDO) posted a record net income of P14.3B in 2012. It has exceeded its P12.5B earnings and 36% percent higher than the P10.5 profit in 2011. Net interest income was P36.2B which is 7% higher as volume growth was offset by the impact of regulatory changes and excess system liquidity.

The Bank's capital base stood at P157B. NPL ratio declined ato 2.8% while provisions Cover 126% of NPL as of December 2012. ROE was 11.5 for the year.

BDO's customer loan portfolio has grown 15% to a total of P769.0 billion. Savings and current accounts have supported the boost in total deposits to P931.6 billion.

BDO said that the bank was able to capitalize and take advantage of market opportunities and realize exceptional gains fro its investment portfolio.

“With the Philippine economy expected to sustain its growth momentum, BDO looks forward to tapping the promising growth opportunities in its customer segments, capitalizing on its established business franchise and wide distribution network15.2 percent, respectively. Return on common equity settled at 11.5 percent in 2012,” BDO added.