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BDO to remain cautious amid risks

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Bdo Unibank Inc. News

BDO Unibank Inc., the country’s largest bank, will remain cautious this year despite strong profit growth in 2023 and in the first quarter of the year.

In a press briefing, Nestor Tan, president and CEO at BDO Unibank Inc., said the bank’s guarded optimism stems mostly from external risks in commodity prices amid geopolitical tensions, citing the conflict in the Middle East and its impact on global oil prices.MANILA, Philippines —

He said the BSP may likely move close or in lockstep with the US Federal Reserve as the interest rate differential between the two central banks may impact the foreign exchange market. Despite the aggressive rate hikes, Tan said BDO is projecting a nine to 10 percent increase in loan disbursements this year.

Tan said BDO expects NPLs to remain under control and loan provisioning would be stable for this year. Credit quality will also likely improve. The stock market snapped its brief two-day winning streak as it returned in the loss column on renewed concerns over escalating...

 

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