The Sy family’s BDO Unibank, Inc. (BDO) reported a 12% increase in net profit to ₱60.6 billion for the first nine months of 2024, driven by the sustained performance of its core banking and fee-based services.
Annualized Return on Common Equity (ROCE) for the period stood at 15%.
Gross customer loans expanded 13% YoY, supported by broad-based growth across all market segments. Total deposits grew 10% YoY, with the Current Account/Savings Account (CASA) deposit ratio remaining steady at 69%.
Non-interest income surged 16%, primarily driven by robust growth in fees and service charges, treasury and forex gains, and income from insurance operations.
Asset quality continued to improve, with the non-performing loan (NPL) ratio declining to 1.82% and NPL coverage increasing to 178%.
Shareholders’ equity strengthened 13% due to continued profitability, resulting in a 13% increase in book value per Share to ₱106.48.
BDO remains well-positioned to capitalize on future opportunities and sustain long-term growth and profitability, backed by its strong franchise, solid balance sheet, and extensive distribution network.
