BDO Jan-March net grows 6% to P19.7B

BDO Unibank Inc. on Friday reported a net income of P19.7 billion for the first quarter of 2025, up 6.48 percent from P18.5 billion in the same period last year, on continued strong performance across the group.

In a disclosure, BDO said that gross customer loans in the period rose to P3.3 trillion, reflecting brand-based growth across all market segments. Deposits expanded 6 percent to P3.8 trillion and its current account/savings account ratio stood at 70 percent, it added.

Net interest income, meanwhile, grew 6 percent, supported by improved earning assets, while noninterest income surged 21 percent on higher fee-based income.

BDO said that it trimmed nonperforming loans (NPL) by 1.77 percent from a year earlier, while NPL coverage stood at 143 percent based on updated Bangko Sentral ng Pilipinas guidelines that exclude provisions appropriated in retained earnings.

"Using the old reporting standard, NPL coverage would have been 179 percent in the first quarter of 2025," the bank said.

Amid economic uncertainties arising from US President Donald Trump's tariff and trade policies, BDO said that it was maintaining a positive outlook as the Philippines "is expected to remain resilient, being a domestic and consumption-based economy."

"BDO remains well-positioned to navigate potential risks and achieve sustainable growth and profitability with its strong business franchise, market leadership and robust capital position," the bank added.

It said shareholders' equity in the first quarter rose 12 percent on continued profitable operations, with book value per share growing 12 percent to P111.13, while its common equity tier 1 ratio stood at 14.4 percent, up from 13.6 percent recorded in the same period last year.

BDO shares added P1.00, or 0.62 percent, to close at P161.00 each on Friday amid a firmer finish of 1.79 percent for the benchmark Philippine Stock Exchange index.