BDO Unibank, Inc. (BDO) reported a 12% year-on-year (YoY) rise in net income to ₱60.6 billion for the first nine months of 2024, driven by robust growth in its core intermediation and fee-based businesses. This performance brought the annualized Return on Common Equity (ROCE) to 15% for the period.

The bank saw a 13% YoY increase in Gross Customer Loans, reflecting expansion across all market segments, and a 10% YoY growth in total deposits, with the CASA deposit ratio steady quarter-on-quarter at 69%. Non-Interest Income also rose 16% YoY, buoyed by strong gains in fees and service charges, treasury and forex activities, and insurance income.

Asset quality showed improvement, with the Non-Performing Loan (NPL) ratio declining to 1.82% and NPL coverage up to 178%. Additionally, Shareholders’ Equity grew 13% YoY, bolstering Book Value Per Share to ₱106.48.

With a solid balance sheet, BDO remains well-positioned to seize emerging opportunities and sustain growth through its extensive distribution network.