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Saturday, August 03, 2019

BDO news: BDO earns P20.2 Bn in 1H 2019


BDO Unibank, Inc. (BDO) sustained its momentum as it delivered P20.2 billion in earnings for the first six months of the year on strong recurring earnings from its core businesses, solid growth in fee income and normalization of trading & forex gains. 

Net interest income increased by 24% to P56.9 billion as net interest margins (NIMs) improved to 3.99 per cent from 3.50 per cent last year. Gross customer loans grew by seven (7) per cent to P2.0 trillion, as the Bank continued to generate double-digit growth in the consumer and middle market segments. Meanwhile, total deposits went up by three (3) per cent to P2.4 trillion, reflective of customers’ shift to higher-yielding fixed income investments, primarily bank-issued bonds. The Bank’s CASA ratio, however, was maintained at 70 per cent. 
Non-interest income was up 29 per cent to P29.5 billion as fee-based income and insurance premiums posted double-digit growth. Further, trading and forex gains normalized to P3.6 billion on favorable capital market conditions. 
Operating expenses grew by 21 per cent in line with the Bank’s continuing expansion, with 53 domestic branches and offices opened in the 1H 2019, as well as higher volume-related expenses. Taxes and licenses and policy reserves at BDO Life increased by 51 per cent. Excluding volume-related expenses, opex growth would have risen by 14 per cent in line with the Bank’s investment in branches and business development offices nationwide. 
Provisions amounted to P3.0 billion as the Bank maintained its conservative credit and provisioning policies. Gross non-performing loan (NPL) ratio was steady at 1.2 per cent while NPL cover remained high at 163.2 per cent. 
Total capital grew to P350.8 billion, with Capital Adequacy Ratio (CAR) and Common Equity Tier 1 Ratio at 14.2 per cent and 12.6 per cent, respectively, higher quarter-on-quarter and remaining comfortably above regulatory requirements. 
With expectations of better economic prospects going forward, BDO will continue to build on its business franchise and extensive distribution network to tap new growth areas and underserved markets. 

Azrael Coladilla is the blogger and founder of Azrael's Merryland Blog. This blog started as a personal blog in 2003, and then converted the blog into a lifeblog about his interest and reporting about pop culture, lifestyle, entertainment, technology, food, travel, toys, outdoor adventure, internet and social media. Awarded as the 2009 Most Influential Blogger for Luzon, Philippines, awarded by the Philippine Blog Awards. He is the founder of several online communities - Manila Bloggers Network, Philippine Bloggers Network, Oh My Food! community, Cavite Bloggers, Travel and Blog Community, and Philippine ToyCon. Azrael's Merryland Blog is included in a list of top 50 Blogs in the Philippines , ranked 65th in Top 100 Blogs that Matter , 49 must read lifestyle blog in the Philippines. and rank 40th in 100 Top Philippine Blogs by Feedspot.
He loves to travel, explore, discover, eat new food, document and record his life, meet new people, do photography and collect Transformers toys.
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MY SCHEDULE

Feb 28 - Axe event in Makati
March 2-3 - out of town
March 9-10 - hotel staycation
March 16-17 - Batangas trip
March 20-24 - Batanes trip
March 25 - Azrael and Lace wedding anniversary
March 30-31 - hotel staycation
April 18-22 - Singapore trip
June 28-30 - Toycon 2019