BDO Unibank’s net income up 12% to PHP82b on service businesses’ growth

NPL ratio is 1.83% and coverage is 145%.

BDO Unibank, Inc. has recorded a net income of PHP82b in 2024, up 12% year-on-year (YoY).

Net interest income and non-interest income both grew 8% during the year, which the Philippine bank attributed to the expansion in earning assets and growth of its service businesses.

Non-performing loan (NPL) ratio was 1.83%, lower than the industry average of 3.27%. NPL coverage is 145% as of end-Q4 2024, compared to 144% the previous quarter.

Gross customer loans grew 13% YoY to PHP3.2t. Total deposits rose 6% YoY to PHP3.8t.

The bank opened a total of 71 branches across the Philippines in 2024. It has 1,791 branches as of end-2024.