This accounted for 83 percent of earnings last year, when it posted an all-time industry high of P73.4 billion.
According to BDO, its performance during the first three quarters of 2024 resulted in an annualized return on common equity of 15 percent for the period.
Growing loans
Customer loans grew by 13 percent, and total deposits rose by 10 percent, with a steady current and savings account ratio at 69 percent.
Non-interest income saw a strong 16 percent boost, driven by higher fees, treasury and foreign exchange gains, and insurance income.
Lower risk of debt defaults
BDO’s asset quality improved, with its non-performing loan ratio (NPL) dropping to 1.82 percent and NPL coverage increasing to 178 percent.
Shareholders’ equity rose by 13 percent, pushing book value per share to P106.48, the banking giant said.