BDO Unibank Inc. announced on August 1 that it was able to grow its net profit by 12 percent in the first half of the year, owing largely to the strong performance of its core businesses during the period.
“BDO’s established business franchise, healthy capital position and sustainable earnings performance reinforce the Bank’s resilience against prevailing macro headwinds and put it in a good position to capitalize on the country’s structural opportunities for long-term sustainable growth,” the bank said in a disclosure to the Philippine Stock Exchange.
Pre-provision operating profit was also up to P39.2 billion, which the bank said is reflective of the strength of core income sources amid a tempered rise in operating expenditures.
Source: Insurance Report (insurancereport.net)
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