July 30, 2013

BDO profit hits P14.1 B in H1

BDO Unibank Inc., the main banking unit of the SM group, posted a P14.1-B net income in the first half of 2013, more than doubled the P5.8-B profit in the same period last year. For the first quarter of 2013, BDO announced an unaudited net income of P10 B.

The bank’s net interest income expanded 14% to almost P20 B, sustaining the growth from the first quarter of the year. Gross customer loans went up 12% to P806.6 B. - WealthSec