BDO reports 12% income rise in H1

Sy-led BDO Unibank Inc. (BDO) grew its net income by 12 percent year-on-year (YoY) to P23.9 billion in the first half after the resilience and growth in its core businesses pushed its bottom line.

The bank informed the stock exchange on Monday that its customer loan portfolio also increased by nine percent, driven by an 11 percent improvement in CASA deposits which now comprise 85 percent of total deposits.

Non-interest income likewise improved to P34.3 billion due to its substantial expansion in fees and insurance premiums. Pre-provision operating profit was up to P39.2 billion — reflecting the strength of core income sources amid the tempered rise in operating expenses.

BDO said it would continue to roll out new digital capabilities and self-service technologies across branches to make banking services more accessible, easier to use, and operationally efficient.
The branch innovations include:

• Paperless straight-through processing capability.

• Covering 80 percent of branch transactions.

• Card-less automated teller machine transactions using biometrics (fingerprint scan or facial recognition) and QR codes.

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