BDO net profit up 12% in Jan.–Sept. 2024

Sy-led lender BDO Unibank Inc. on Monday reported double-digit growth in its net profit for the first nine months of the year, on the back of the sustained contribution of its core intermediation and fee-based service businesses.

In a regulatory filing, BDO said its net profit climbed to P60.6 billion, while its annualized return on common equity (ROCE) stood at 15% during the period.

Gross customer loans climbed 13%, while total deposits expanded by 10% year-on-year, with the current account/savings account (CASA) deposit ratio steady at 69%.

Non-interest income increased by 16%, driven mainly by higher fees and services charges, treasury and foreign exchange gains, ang income from insurance operations.

The lender ended the period with over 1,700 consolidated operating branches and over 5,700 teller machines across the country. It also has 16 international offices in Asia, Europe, North America, and the Middle East. — BM, GMA Integrated News