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BDO emerges as the country’s Stongest Bank for the second straight year

Still No. 1!

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BDO Unibank, Inc. keeps its #1 position in the local banking industry after The Asian Banker named it 2019’s Strongest Bank by Balance Sheet in the Philippines for the second straight year.

According to the strictest evaluation, banks are rated on a scale of 0-5 and ranked based on the following performance indicators: scale, balance sheet growth, risk profile, profitability, asset quality, and liquidity.

The Asian Banker underscored BDO’s healthy balance sheet and profit as well as its low non-performing loan (NPL) ratio and high loan loss reserves to gross NPLs ratio.

In the recent report presented by BPO on its Q3 earnings, BDO posted a P32.1 billion from the previous level of P21.5 billion in the same period last year. The bank credits its net income to the expansion of its recurring core revenues, complemented by the sustained increase in fee incomes and life insurance premiums. It translates to a Return on Common Equity (ROCE) of 12.5%, compared to 9.5% in 9M18.

While its nine-month net income brings it closer to its full-year earnings guidance of P38.5 billion, the bank remains steadfast in capitalizing on the country’s solid economic pace and growth opportunities in underserved and emerging markets, leveraging its focused growth strategy, strong business franchise, solid balance sheet, and extensive geographic reach.

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The Asian Banker evaluates strength “based on a belief that a strong bank demonstrates long-term profitability from its core businesses.” Through its yearly Strongest Banks by Balance Sheet, the Singapore-based publication provides financial intelligence by assessing banks and financial holding companies in emerging and mature markets with a substantial amount of activity in commercial banking.

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Manoy.

aka Tito Spidey is the founder and admin at Tech Patrol.

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