BDO Unibank, Inc. (BDO) reported a 10 percent hike in its net income to an all-time high of P25.0 billion last year, matching the Bank’s earnings guidance for 2015 despite the challenging operating environment, on the back of robust growth across all business segments. In a disclosure to the Philippine Stock Exchange, the Bank said it achieved another milestone last year as it became the first domestic bank to reach the P2.0 trillion mark in total assets. The sustained expansion in lending, deposit-taking and fee-based businesses drove the Bank’s solid performance last year with net interest income amounting to 57.0 billion. BDO’s customer loan portfolio grew 17 percent to P1.3 trillion, outpacing the industry’s growth of 13 percent. Total deposits grew by 12 percent to P1.7 trillion, underpinned by the faster 19 percent jump in low-cost deposits. Non-interest income rose to P31.9 billion, with fee-based service income contributing P19.4 billion [...]
