Sy-led BDO Unibank Inc., (BDO) has achieved a remarkable 35 percent increase in net income, totaling P53.9 billion during the first nine months of 2023, compared to P40 billion in the same period in 2022.
This remarkable growth was attributed to a 21 percent surge in total net revenues, reaching P195 billion in January to September 2023, compared to P161 billion during the same period in 2022, resulting in a 15.1 percent Return on Common Equity for 2023, up from 12.4 percent in 2022.
Net interest income increased by 27 percent, totaling P137 billion in the first nine months of 2023, customer loans expanded by 8 percent to P2.7 trillion, and deposits grew by 12 percent to P3.4 trillion.
BDO remains confident about its future prospects, despite ongoing macroeconomic challenges, and continues to invest in underserved markets and technology.
