BDO Posts ₱60.6 Billion Net Income in 9M 2024

BDO Unibank, Inc.’s (BDO) net profit grew 12% year-on-year (YoY) to ₱60.6 billion in the first nine months of 2024, driven by the sustained contribution of its core intermediation and fee-based service businesses. Annualized Return on Common Equity (ROCE) stood at 15% in the 9M 2024 period.

Gross Customer Loans increased 13% YoY on broad-based growth across all market segments, while total deposits expanded 10% YoY. Current Account/Savings Account (CASA) deposit ratio remained steady quarter-on-quarter (QoQ) at 69%.

Non-Interest Income rose strongly by 16% YoY with robust growth in fees and service charges, treasury and forex gains and income from insurance operations.

Asset quality improved YoY and QoQ with Non-Performing Loan (NPL) ratio declining to 1.82% and NPL coverage increasing to 178%.

Shareholders’ equity strengthened 13% YoY on continued profitable operations, with Book Value Per Share growing 13% YoY to ₱106.48.

BDO remains well-positioned to capitalize on emerging opportunities and sustain long-term growth and profitability with its strong business franchise, solid balance sheet and extensive distribution network. (MCN)