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BDO says earnings back to pre-pandemic level in Jan to Sept 2021

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="BDO Automated Teller Machine. BDO/Handout" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/tvpatrol/10/25/bdo-atm-bdo-1.jpg"/><figcaption>BDO Automated Teller Machine. <em>BDO/Handout</em></figcaption></figure></div><p>MANILA - BDO Unibank on Monday said its net income for the first 9 months of 2021 reached P32.4 billion which brought earnings back to pre-pandemic levels.</p><p>The total is higher compared to the P16.6 billion a year ago, BDO said in a disclosure to the stock exchange. </p><p>&quot;Earnings normalize to pre-pandemic levels, shows stable quarter on quarter business performance with loan growth turning positive,&quot; the bank said. </p><p>&quot;Outlook turns positive with increasing vaccination rates and improving mobility,&quot; it added.</p><p>Its non-performing loan ratio is at 3.1 percent but accompanied by NPL coverage of 101 percent, BDO said.</p><p>Gross customer loans grew 5 percent year-on-year while total deposits rose 6 percent, driven by the expansion in current/savings account (CASA) deposits which now comprise 85 percent of total deposits, the bank said. </p><p>The Sy-led lender also said it sustained investments in digital including the launch of its mobile wallet BDO Pay for its clients earlier this year. </p><p>At least 95 percent of its employees are also vaccinated against COVID-19, it said. </p><p>Bangko Sentral ng Pilipinas Governor Benjamin Diokno in September said banks in the country remain &quot;stable&quot; with growing assets but bad loans are expected to remain high. </p><p>The gross NPL ratio was at 4.5 percent as of July but is accompanied by a high NPL coverage ratio of 82.4 percent, BSP data showed. </p><p>President Rodrigo Duterte in February signed the Financial Institutions Strategic Transfer (FIST) law which would cushion banks from bad loans. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/17/21/duterte-signs-fist-bill-into-law-to-cushion-banks-from-bad-loans">Duterte signs FIST bill into law to cushion banks from bad loans</a></li>	<li><a href="https://news.abs-cbn.com/business/09/22/21/ph-banking-system-stable-as-total-assets-grow-bsp">PH banking system &#x27;stable&#x27; as total assets grow despite pandemic: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/07/21/21/banks-still-upbeat-but-expect-bad-loans-to-remain-high-bsp">Banks still &#x27;upbeat&#x27; but expect bad loans to remain high: BSP</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1731832" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

BDO Unibank on Monday said its net income for the first 9 months of 2021 reached P32.4 billion which brought earnings back to pre-pandemic levels.