MANILA, Philippines – BDO Unibank saw its net income increase by 33% to P57.1 billion in 2022, despite inflation and volatilities in foreign exchange and interest rates.

In a stock exchange filing on Monday, February 27, BDO said its gross customer loans went up by 9% on broad-based growth due to the economic reopening.

The Sy-led bank’s total deposits rose by 14%, with net interest income growing by 14% to P149.2 billion.

Meanwhile, non-interest income saw a 17% increase to P71.5 billion due to improved fee income, foreign exchange, and fixed income client-flow businesses.

“While macroeconomic challenges remain with persistent inflation and foreign exchange and interest rate volatility, BDO believes that its established business franchise and strong balance sheet will allow the bank to surmount near-term risks and capitalize on structural growth opportunities to attain long-term sustainable growth,” BDO said.

On the same day, BDO announced an increase in its regular quarterly cash dividends on common shares to P0.75 per share starting in the first quarter of 2023, which is payable on March 31. 

“This higher dividend payout compares favorably with the P0.30 per share quarterly dividend in the past, as the bank recognizes the importance of providing a stable and sustainable dividend stream consistent with its commitment to shareholders, and its financial performance,” BDO said. – Rappler.com