Posted on November 03, 20111 10:26:00 AM
Profits of Sy-led Banco de Oro Unibank, Inc (BDO) climbed by around 19^ in the January to September period on the back of the bank's strong performance across all business segments amid a difficult environment here and abroad.
In a disclosure to the stock exchange this morning, the bank said it earned P7.6 billion in nine months ending in September, higher than the P6.4 billion it booked in the same period last year.
"The bank managed to post a record performance despite the difficult operating environment here and overseas," BDO said in the statement.
Its net interest income inched up by 1.38% to P25.7 billion in the nine-month period from P25.35 billion last year.
The bank's non-interest income, meanwhile, grew by 16% to P15.3 billion.
On the expenditure side, the bank's operating expenses went up by around 5% to P27 billion from P25.78 billion a year ago as it "contained expense growth at manageable levels."
"BDO will continue to maintain cautious stance due to the current economic developments in Europe and the US," the bank said.
BDO's non-performing loans--the ratio of soured loans to total loans--stood at 3.9% improving from 4.7% as of end-2010.
The bank's capital adequacy ratio--a measure of its financial strength--was at 15%, well-above the central bank's 10% minimum requirement. -- Ann Rozainne R. Gregorio
Profits of Sy-led Banco de Oro Unibank, Inc (BDO) climbed by around 19^ in the January to September period on the back of the bank's strong performance across all business segments amid a difficult environment here and abroad.
In a disclosure to the stock exchange this morning, the bank said it earned P7.6 billion in nine months ending in September, higher than the P6.4 billion it booked in the same period last year.
"The bank managed to post a record performance despite the difficult operating environment here and overseas," BDO said in the statement.
Its net interest income inched up by 1.38% to P25.7 billion in the nine-month period from P25.35 billion last year.
The bank's non-interest income, meanwhile, grew by 16% to P15.3 billion.
On the expenditure side, the bank's operating expenses went up by around 5% to P27 billion from P25.78 billion a year ago as it "contained expense growth at manageable levels."
"BDO will continue to maintain cautious stance due to the current economic developments in Europe and the US," the bank said.
BDO's non-performing loans--the ratio of soured loans to total loans--stood at 3.9% improving from 4.7% as of end-2010.
The bank's capital adequacy ratio--a measure of its financial strength--was at 15%, well-above the central bank's 10% minimum requirement. -- Ann Rozainne R. Gregorio
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