Net income edged up to P40.7 billion from P40.6 billion a year earlier, while return on equity stood at 12.7 percent.
Lending stays strong
Loans grew 15 percent to P3.9 trillion, faster than the industry’s pace, as demand increased across corporate, commercial and consumer banking.
Net interest income rose 11 percent, while deposits increased 13 percent, including a 4 percent rise in low-cost checking and savings accounts.
Healthier loan book
The bank set aside more funds as a precaution against future risks even as the share of bad loans fell to 1.64 percent from 1.75 percent a year earlier, reflecting continued improvement in asset quality.
Profit before those provisions rose 12 percent as operating expenses grew at a slower pace than revenues.
Strong capital base
Shareholders’ equity increased 8 percent, lifting book value per share to P121.78, while BDO maintained one of the banking industry’s strongest capital positions, giving it room to support future lending and growth.
—Edited by Miguel R. Camus
