THE Sy-led BDO Unibank Inc. posted a P40.7-billion net income in the first half of 2026, slightly higher than P40.6 billion in the same period last year, driven by the ‘continued strength’ of its core business segments.
‘The bank sustained strong operating momentum, delivering mid-teens loan growth, double-digit growth in pre-provision operating profit and improved asset quality,’ read a statement the lender issued last Monday.
According to the bank, provisions were increased as a ‘prudential measure’ against ‘evolving risks.’ The lender didn’t provide details on what these risks were.
Net interest income rose 11 percent year-on-year as gross customer loans expanded 15 percent to P3.9 trillion, supported by double-digit growth across all segments.
Meanwhile, total deposits climbed 13 percent while current and savings account (CASA) grew 4 percent. Non-interest income increased 4 percent, led by a 14 percent rise in insurance operations.
According to the bank, operating expense growth remained ‘contained’ at a single-digit pace, resulting in a 12-percent increase in pre-provision operating profit.
Asset quality continued to improve, with nonperforming loan (NPL) ratio declining to 1.64 percent from 1.75 percent in the same period last year.
NPL coverage stood at 132 percent. Credit cost increased to 67 basis points, reflecting management’s ‘proactive approach’ to potential risks, the bank said.
Shareholders’ equity rose 8 percent, with book value per share increasing to P121.78. The bank’s common equity Tier 1 (CET1) ratio stood at 13.1 percent.
‘Backed by strong business fundamentals, a healthy balance sheet, and its market leadership position, BDO remains well-positioned to navigate prevailing uncertainties and capture opportunities in an evolving business environment,’ the bank noted.
BDO said it has the country’s largest distribution network, with over 2,000 consolidated operating branches and more than 7,900 teller machines nationwide.
It also has 13 international offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.
The bank said it ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of March 31, 2026.