BDO 2012 profit jumps 36% to P14-B

MANILA, Philippines – BDO Unibank Inc. said Tuesday, February 26 its 2012 profit grew double digits from 2011 and beyond the bank’s target owing to higher loans and trading gains.

In a statement, BDO, a unit of SM Investments Corp. of mall tycoon Henry Sy, said its net income rose 36% in 2012 from 2011 to P14.3 billion, exceeding its P12.5 billion guidance for the year.

BDO, one of the country’s largest lenders, has a network of 760 branches and over 1,900 ATMs nationwide.

Below are details of the bank’s 2012 financial report:

• Net interest income or income from loans grew 7% to P36.2 billion. Consumer loans rose 15% to P769 billion.
• Non-interest income or income from trading gains and fees went up 18% to P24.6 billion. Gains from treasury activities amounted to P8.2 billion.
• Gross non-performing loan ratio or the proportion of bad loans to total portfolio “declined” to 2.8%.
• BDO’s capita base stood at P157 billion, with its capital adequacy ratio at 19.1%, higher than the 10% regulatory minimum

– Rappler.com