BDO Unibank Inc. (BDO) has delivered P21.4 billion in profits in the first six months of 2021 on the back of a strong sustainable earnings stream and normalized provisions. Customer loans remained flat at P2.3 trillion compared to the same period last year.
Total deposits grew to P2.7 trillion led by the 13 percent rise in current account/savings account (CASA) deposits, resulting in a CASA ratio of 84 percent. Net interest income totaled P64.4 billion, with net interest margin at 4.06 percent for the period.
Non-interest income went up to P29.7 billion, led by fee-based income which grew by 20 percent to P16.1 billion, and insurance premiums contributing P9.2 billion, up by 31 per cent. Trading and forex gains normalized to P2 billion. (PR)