BDO's profit returns to pre-pandemic levels

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Metro Manila (CNN Philippines, October 25) — The net income of the Sy-led BDO Unibank in the first nine months of 2021 has bounced back to pre-pandemic levels.

In a disclosure on Monday, the leading lender said earnings in the first nine months reached ₱32.4 billion versus the ₱16.6 billion recorded a year ago "on the bank's resilient business franchise and normalized provisions."

BDO said it has posted "stable" quarter-on-quarter business performance, buoyed by loan growth.

Gross customer loans emerged stronger than the industry with a 5% year-on-year increase. Total deposits, meanwhile, jumped 6%.

Non-interest income climbed 14% year-on-year, while trading and forex gains normalized at ₱2.8 billion.

BDO said it continued to pour investments into its digital infrastructure "to further elevate customer experience and raise productivity."

Digital upgrades include paperless in-branch transactions, card-less ATM transactions using biometrics and QR codes, and fully digital account opening.

The bank also said 95% of its employees are now fully vaccinated against COVID-19.

BDO has over 1,500 operating branches and more than 4,400 ATMs across the Philippines, on top of over 15 international offices.