April 21, 2013

BDO Establishes ADR Level 1 Program, 1Q2013 net income of P10 B, cash dividends


BDO Unibank, Inc. (BDO), through its appointed depositary, Deutsche Bank (DB), launched on Thursday, April 18 at 8.30 am (Eastern U.S.A. Time) its American Depositary Receipts (ADR) Level 1 program. The ADR Level 1 is a program wherein securities issued in the U.S. representing BDO common shares can be traded over-the-counter (OTC).

This provides flexibility for US investors to trade BDO common shares in their time zone and settle their transactions locally. It is meant to tap the pool of US ADR investors, enhance visibility and global presence and diversify and broaden the Bank’s shareholder base.

For the first quarter of 2013, BDO announced an unaudited net income of P10 B, 257% higher than the P2.8 B posted in the first quarter of 2012. Gross customer loans continued to expand by 16% YOY, while total deposits increased by 9%, leading to a 14% increase in net interest income to P9.6 B.

Non-interest income also increased 130%, driven by fee-based service income and exceptional trading gains due to BDO’s Board of Directors approved the declaration of the following cash dividends with payment and record dates to be announce: P1.20 per share plus P0.30 per share for each of the remaining quarters of the year (total P2.10).