BDO posts P20.1B profit in Q1

BDO Unibank reported a modest rise in first-quarter earnings, posting a net income of ₱20.1 billion, up 2 percent from ₱19.7 billion in the same period last year, driven by steady growth across its core lending and deposit businesses.

In a disclosure, the bank said net interest income increased by 11 percent, supported by strong expansion in consumer lending. Gross consumer loans climbed 16 percent to ₱3.8 trillion, with double-digit growth recorded across all major segments.

Deposits also rose 15 percent, with current and savings account deposits accelerating by 7 percent, reflecting sustained client inflows and liquidity strength.

BDO further reported improved asset quality, with its non-performing loan ratio easing to 1.66 percent from 1.77 percent a year earlier, signaling healthier loan performance.

BDO president and CEO Nestor Tan said the results reflect the bank’s broad-based franchise strength.

“In summary, good business growth across the board reflects the strength of the BDO franchise. The balance sheet is healthy so good position for growth, adequate capital, no skeletons in the closet in terms of delinquencies. Very good productive capacity across the board,” he said.

Tan added that the bank’s extensive network—now close to 2,000 branches and branch-like units nationwide—remains central to its financial inclusion strategy.

“We believe that that’s necessary for financial inclusion,” he said.

However, Tan flagged external risks, particularly prolonged geopolitical tensions in the Middle East, which could weigh on inflation, consumer spending, and corporate investment activity.

He warned that uncertainty in global oil markets and supply chains could eventually affect domestic demand and capital expenditures if tensions persist.