Net profit in 9 months

BDO’s lending operations picked up pace with a 19 percent increase in gross customer loans to 1.2 trillion on sustained growth across its target markets.

Likewise, the Bank’s total deposits rose by 12 percent to 1.6 trillion, led by the 16 percent hike in low-cost deposits. As such, net interest income (NII) rose by 12 percent year-on-year to 41.8 billion.

The third quarter results now incorporate the completion of BDO’s acquisition of One Network Bank (ONB) in July this year, thereby adding over 20 billion to BDO’s total loans and deposits.

The Bank’s fee-based service income contributed 13.9 billion to noninterest income, followed by trading and foreign exchange income at 6.3 billion. Overall, the Bank’s gross operating income went up by 11 percent to 65.6 billion.

Despite increased business volumes and sustained branch expansion, BDO managed the growth of its operating expenses at 11 percent.

The Bank continued to prudently manage its balance sheet and set aside provisions amounting to 2.7 billion. Gross nonperforming loan (NPL) ratio stood at 1.2 percent as against 1.4 percent a year-ago while NPL cover settled at 182 percent, after the consolidation of ONB.

BDO’s total capital increased to 192 billion, with both the Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET1) ratio comfortably above the regulatory minimum under the Basel III framework at 13.4 percent and 11.4 percent, respectively.

BDO’s robust business franchise, focused growth strategy and solid capital base place the Bank in a good position to tap growth opportunities while remaining resilient amid domestic and external challenges.

BDO has one of the largest distribu- tion networks, with more than 1,000 operating branches and over 3,000 ATMs nationwide (including ONB). It also has a branch in Hong Kong as well as 27 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.