banks in the Philippines

BDO nets P73.4 billion in 2023

Ralf Rivas

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BDO nets P73.4 billion in 2023


BDO delivers higher-than-expected earnings in 2023

MANILA, Philippines – The Sy family’s BDO Unibank posted a net income of P73.4 billion in 2023 – a 28.5% jump from last year’s P57.1 billion – on the back of growth from its core business.

BDO’s net interest income reached P186.4 billion as loans from customers increased by 9% to P28.5 trillion. Meanwhile, total deposits went up by 11% to P3.5 trillion.

Non-interest income reached P84 billion on the back of fee-based, treasury, and foreign exchange businesses.

The bank’s non-performing loan ratio, a measure of souring debt, continued to decline to 1.85%.

The latest earnings figures were above analyst estimates.

“This was above COL estimates at 106% of our full-year forecast, while in line with consensus estimates at 100.2%. On our part, the outperformance was due to higher-than-expected revenues,” COL Financial said in a research note to investors. –

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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.