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BDO records P25B net profit for 2015

Unknown 6:35 AM 2015 , P25B , profit , Records

<ul><li style="text-align: justify;">BDO Unibank Inc. posts a record-high net profit of P25 billion for 2015</li> <li style="text-align: justify;">The bank records a 10 percent increase in its gains compared to 2014 data</li> <li style="text-align: justify;">BDO’s customer loan portfolio has also grown by 17 percent</li> </ul>The BDO Unibank Inc. has posted a record-high net profit of P25 billion for the year 2015; getting a 10 percent increase in its gains compared to last year’s numbers. In an article written by Doris Dumlao Abadilla for <a href="http://business.inquirer.net/207749/bdo-nets-record-high-p25b">Philippine Daily Inquirer</a>, it was disclosed that the country’s largest lender was able to survive this year’s challenging operating environment; following a 1.14 percent dip in the combined profits of Philippine banks. “The sustained expansion in lending, deposit-taking and fee-based businesses drove the bank’s solid performance last year,” bank officials said in a statement. BDO’s customer loan portfolio has also grown by 17 percent amounting to P1.3 million; outpacing the combined growth of fellow banks that is merely at 13 percent. The financial corporation led by business tycoon Henry Sy has also recorded a total of P1.7-trillion worth of bank deposits in the previous year; increasing 2014 records by 12 percent and recording a total asset value of over P2 trillion. BDO is 40-percent owned by the SM Investments Corporation (SMIC) while the remaining shares are listed under Multi-Realty Development Corporation, Sybase Equity Investments Corporation, SM Shoemart, and Sysmart Corporation. Originally named as Banco de Oro, BDO Unibank Inc. became the product of the merger signed between SMIC and Equitable PCI Bank in 2005. Meanwhile, Governor Amando M. Tetangco Jr. of the Bangko Sentral ng Pilipinas (BSP) said that global bank growths remained uneven in 2015; resulting to a “divergence in policy responses from major central banks.” “These external headwinds made for some rough sailing for the Philippines in 2015 due to higher risk aversion among investors. Some capital flowed out particularly in the second half of the year, the Philippine stock market took a hit and the peso depreciated. There were similar shifts in financial markets across emerging Asia,” Tetangco said in a recent speech. <a href="http://kickerdaily.com/bdo-records-p25b-net-profit-2015/" rel="nofollow">Kicker Daily News</a>

BDO Unibank Inc. posts a record-high net profit of P25 billion for 2015 The bank records a 10 percent increase in its gains compared to 2014...