BDO earnings back to pre-pandemic levels, 9M 2021 profits at P32.4B

2021 October – BDO Unibank, Inc. (BDO) delivered a net income of P32.4 billion in 9M 2021 compared to P16.6 billion a year-ago, on the Bank’s resilient business franchise and normalized provisions.


Key Highlights of the Bank’s performance are as follows:

  • Earnings normalize to pre-pandemic levels, shows stable quarter on quarter business performance with loan growth turning positive;
  • Asset quality remains stable with NPL ratio at 3.1% and NPL coverage at 101%;
  • Digital investments continue with a series of new product launches;
  • Outlook turns positive with increasing vaccination rates and improving mobility.


Gross customer loans outpaced the industry with a 5% year-on-year (YoY) increase while total deposits went up by 6% YoY, driven by the 14% YoY expansion in Current Account/Savings Account (CASA) deposits that now comprise 85% of total deposits. Non-interest income increased by 13% YoY while trading and forex gains normalized to P2.8 billion.


The Bank sustained investments in its IT/digital infrastructure and expanded its digital capabilities to further elevate customer experience and raise productivity. The Bank launched early this year its mobile wallet BDO Pay. In addition, BDO clients can now enjoy paperless in-branch transactions, card-less ATM transactions using biometrics and QR codes, and fully digital account opening.


Total capital base strengthened to P422.3 billion, with Common Equity Tier 1 (CET1) ratio at 13.8%, well above regulatory minimum. The Bank’s Book Value per common share went up to P94.76 as of end-September 2021 vs. P84.82 in the same period last year, for a 12% growth. Return on Average Common Equity (ROE) for the 9M2021 was higher at 10.72% from 5.97% in the same period last year.


More significantly, the Bank has now vaccinated 95% of its employees against COVID-19, thus raising the level of safety for clients and Bank personnel.


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