earnings reports

BDO net income up 51% to P42.8 billion in 2021

Ralf Rivas
BDO net income up 51% to P42.8 billion in 2021

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BDO says its earnings in 2021 reflect resiliency despite pandemic-related headwinds affecting loan activity

MANILA, Philippines – Sy-led BDO Unibank posted a net income of P42.8 billion in 2021, as bad loan buffers normalized and non-interest income jumped.

In a stock exchange filing on Thursday, February 24, BDO said its profits in 2021 were 51% higher than the P28.2 billion posted in 2020.

Non-interest income increased by 11%, while loan growth accelerated by 6%.

Total deposits rose 8%, while current and savings accounts deposits expanded 13%.

“This reflects the bank’s operational resiliency notwithstanding COVID-19-related headwinds depressing loan activity for much of 2021,” BDO said.

Total capital base increased to P424.5 billion while the capital adequacy ratio was at 14.6%, above the regulatory minimum. 

BDO is the Philippines’ largest bank in terms of total assets, loans, deposits, and trust funds. – Rappler.com

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.