BDO UNIBANK, Inc. expects its loan portfolio to continue to grow by single digits this year, its top official said on Tuesday.
In terms of total loan growth this year, “we were in the high single digits for the first half, so we think that that will continue,” BDO President and Chief Executive Officer Nestor V. Tan told reporters on the sidelines of an event in Quezon City on Tuesday.
BDO earlier reported that its total resources grew 7% annually to P3.065 trillion in the six months ended June.
Its net loans and receivables likewise increased 9% to P2.120 trillion in the same period on the back of a 7% increase in the bank’s customer loans.
The Sy-led bank’s net income in second quarter jumped by 43.4% P10.393 billion, bringing its first semester bottom line to P20.140 billion, an 53.6% increase year on year.
When asked if the bank will revise upward its P38.5-billion profit guidance for the year, Mr. Tan said: “Not yet. We’re not sure how the second half will be strong.”
Shares in BDO went down by 1.57% or P2.30 to end at P144.20 each on Tuesday. — Mark T. Amoguis