BDO posts P42.8 billion net income in 2021

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BDO Unibank said Monday its net income for the year 2021 reached P42.8 billion, higher by 51 percent compared to the previous year.

Meanwhile, its net income for the first quarter of 2022 rose 13 percent to P11.7 billion, the bank said in a disclosure to the stock exchange.

“These positive results were achieved on the bank of the bank’s strong core businesses,” BDO said.

Its loan portfolio rose by seven percent to P2.4 trillion on the back of strong demand from corporate borrowers, recovery of the middle market and resilience of the consumer segment as of the first quarter, the bank earlier said.

Deposits also rose to P2.8 trillion driven by the 11 percent year-on-year increase in current/savings account deposits during the period, it added. (PR)

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