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Enjoy the latest deals this Christmas on BDO Pay

'Tis the season to be shopping to avoid the Christmas rush! Thanks to the convenience of shopping totally cashless and cardless through the BDO Pay app, shopping for Christmas gifts will have a different kind of rush, not the frenetic kind. BDO Pay, through its Scan to Pay feature, minimizes the hassle in paying for transactions by linking the shopper’s BDO Savings Account, Checking Account or Credit Card with the mobile app. This eliminates the need for 'loading up' their e-wallet account and spending for transfer fees, making purchases faster, easier, and more secure. Mixing and matching to get the latest deals  Aside from the convenience of cashless and cardless shopping, BDO Pay lets shoppers enjoy BDO Deals on the app, allowing them to take advantage of exclusive promos, rewards, and rebates available for their cards and accounts.  For example, shoppers can use BDO Pay to charge their groceries to their bank account; and then charge to their credit card to treat their ...
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BDO 1Q income up 13% to ₱11.7 billion

BDO Unibank, Inc. (BDO) posted a 13% year-on-year (YoY) increase in net income to P11.7 billion for the 1Q 2022, driven by the Bank’s core businesses.    

 

Loan portfolio rose by 7% to P2.4 trillion on strong demand from corporate borrowers, the recovery in the middle market, and the resilience of the consumer segment. Deposits went up to P2.8 trillion driven by the 11% YoY increase in Current Account/Savings Account (CASA) deposits, now comprising ~86% of total deposits. This resulted in net interest income of P33.9 billion, 6% higher than a year-ago. 

 

Non-interest income increased by 9% to P16.7 billion, driven by fees and insurance premiums. Trading and forex gains were in line with normalized business levels. 

 

Operating expense (OPEX) growth was manageable at 3% YoY to P31.8 billion. 

 

Asset quality continued to improve with NPL ratio down to 2.72% from 2.81% last year. The Bank maintained its conservative credit and provisioning policy with provisions at P3.7 billion compared to P2.9 billion a year-ago, resulting in higher NPL coverage at 120.8%

 

Total capital base strengthened to ₱429.9 billion, with the Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET1) Ratio both increasing to 14.6% and 13.5%, respectively, comfortably above regulatory minimum. 

 

BDO’s Return on Common Equity (ROCE) for the 1Q 2022 increased to 11.09% from 10.56% in the same period last year. The Bank’s Book Value per common share rose to P96.47 as of end-March 2022 for a 7% year-on-year growth.

 

BDO’s sustained earnings performance, robust business franchise, and solid capital base place the Bank in a good position for long-term sustainable growth. 

 

About BDO

 

BDO is a full-service universal bank which provides a wide range of corporate and retail services such as traditional loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, cash cards, credit cards, and online and non-online brokerage services.  

 

BDO has the country’s largest distribution network, with over 1,500 consolidated operating branches and more than 4,400 ATMs nationwide.  It also has 16 international offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.

 

The Bank also offers digital banking solutions to make banking easier, faster, and more secure for its clients.

 

BDO 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 December 31, 2021. For more information, please visit www.bdo.com.ph

 


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