BDO Unibank, Inc. has announced a 33 percent increase in its profits to P57.1 billion in 2022 from P42.8 billion in 2021, attributed to the growth of its core businesses.
The bank’s Return on Average Common Equity (ROCE) for the year increased to 13.0 percent from 10.5 percent in 2021, while its gross customer loans increased by 9 percent year-on-year.
Net interest income also grew by 14 percent to P149.2 billion, while non-interest income climbed by 17 percent to P71.5 billion.
The bank also reported a dip in the Non-Performing Loan (NPL) ratio to 1.95 percent and an improvement in the NPL coverage to 167 percent.
The Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET1) Ratio both remained above regulatory minimum levels at 14.5 percent and 13.4 percent, respectively.
As a result, BDO’s Board of Directors approved a new dividend policy, increasing the regular quarterly cash dividends on common shares from P0.30 to P0.75 per share beginning in the first quarter of 2023.
The bank will distribute the new dividend on March 31, 2023.
