Banco de Oro Unibank of the Sy family had an awesome performance last year when it achieved a high of P25.055 billion in its profit. The largest bank in the country in terms of assets also reported a history in local banking when it achieved a major breakthrough by surpassing the P2 trillion mark in assets at the end of 2015.
In its disclosure to the Philippine Stock Exchange, the bank reported that its profit grew to 10 percent to P25 billion. BDO’s performance in 2015 surpassed its competitors Metropolitan Bank and Trust Company (P18.6 billion) and the Bank of the Philippine Islands (P18.3 billion).
The bank also reported an increase in its net earnings by 17 percent from P46.11 billion to P56.9 billion. BDO has shown its muscle in the consumer market when its consumer loans reached P1.3 trillion, indicating a 17 percent upsurge, higher than the industry growth of 13 percent.
Non-interest income experienced an 8% increase to P31.9billion from P29.4 billion coming from service fees, commissions and other bank-related transactions. It has shown financial stability as its capital base stood at P200 billion ‘for the year.
Furthermore, BDO’s capital adequacy ratio (CAR) was pegged at 13.3 percent, much higher than the Bangko Sentral ng Pilipinas’ 10 percent requirement under the international Basel 3 framework. BDO also allotted P3 billion as a standby cover for bad debts incurred in 2015. It also managed to limit its exposure to non-performing loans (NPLs) at 166%. It was also even able to trim the share of gross NPLs, to 1.2% for the year from 1.3% in 2014.
The banking giant has over 1,000 operating branches and more than 3,000 automated teller machines nationwide, alongside an offshore branch in Hong Kong and remittance centers across the globe.