BDO Unibank, Inc. (BDO) posted a net income of ₱82 billion for 2024, reflecting a 12 percent annual increase from ₱73.4 billion in 2023. This was attributed to solid performance across its core businesses, with a return on common equity of 15.14 percent.
The bank saw a 13 percent annual rise in gross customer loans, reaching ₱3.2 trillion, and a 6 percent increase in total deposits to ₱3.8 trillion, supported by a strong 71 percent CASA ratio. Net interest income and non-interest income grew by 8 percent, driven by a larger earning asset base and expansion in service businesses.
BDO maintained solid asset quality with a non-performing loan (NPL) ratio of 1.83 percent, lower than the industry average of 3.27 percent. It continued its expansion efforts, opening 71 branches, mostly in rural and provincial areas, bringing its total network to 1,791 branches. This aligns with the bank’s strategy of enhancing customer reach, particularly in underserved markets.
Digital investments complement the physical expansion, ensuring BDO remains competitive and innovative in a changing banking landscape. The bank also raised ₱119 billion through its second and third ASEAN Sustainability Bonds, reinforcing its commitment to sustainable finance and development.
BDO’s strategic focus on broadening its services, strengthening its balance sheet, and pursuing sustainability initiatives positions it for continued long-term growth and profitability.
