BDO posts P5.57-B profit in Q2

Posted at 08/06/14 2:18 PM

MANILA, Philippines – BDO Unibank Inc., the country's biggest lender by assets, posted an increase in its net income for the second quarter of the year.

In a disclosure to the stock exchange, BDO said its net income attributable to parent equity holder jumped 35 percent to P5.57 billion in the second quarter of 2014 from P4.11 billion in the same period a year ago.

The bank’s gross revenues from April to June grew to P22.7 billion from P20.5 billion in the second quarter of last year.

Its net income in the first six months of 2014, however, is down 22 percent to P11.05 billion due to extraordinary trading gains booked during the same period in 2013.

"As the Philippine economy copes with changes in the political, global and environmental landscapes, BDO continues to build on its primary business strengths in order to capitalize on new opportunities and further solidify its market leadership," BDO earlier said.