Tuesday, November 25, 2008 BDO profit rises to P1B
BANCO de Oro Unibank Inc. (BDO) said that in the third quarter, it earned a year-to-date net profit of P1.06 billion.
In the same quarter, the bank stood out as No. 1 in assets, deposits, loans, and assets under management. It grabbed the third spot in terms of capital.
BDO’s gross customer loans and receivables expanded 37 percent year-on-year to P397 billion while deposits rose 32 percent year-on-year to P575.3 billion.
BDO’s trust business exhibited strong growth, with assets under management of P319.6 billion, an increase of P67 billion or 26 percent from September last year.
The bank’s total resources stood at P742.7 billion, an increase of 22 percent compared to the same period last year. It’s capital was at P54.6 billion, boosted by a P5 billion preferred share issue in September.
BDO credited its healthy balance sheet to its focused approach to its target market segments, notably the top-tier corporate market, middle market, and retail.
The bank has a nationwide network of 700 branches and more than 1,200 automated teller machines. (PR)
