BDO posts ₱20.1B Q1 profit on loan growth

MANILA, Philippines — Sustained growth across core businesses lifted BDO Unibank Inc.’s net income to ₱20.1 billion in the first quarter of 2026, up 2% from a year earlier, the bank said.

The country’s largest lender said its performance was driven by strong expansion in lending activities, with gross customer loans rising 16% year-on-year to ₱3.8 trillion, reflecting broad-based growth across all market segments.

Net interest income increased 11% during the period, while total deposits grew 15%.

Growth in current and savings accounts accelerated to 7%, the bank said.

Non-interest income climbed 6%, supported in part by a 27% increase in insurance operations.

Despite the gains, BDO said net income growth was moderated by higher provisions, which it described as a pre-emptive move in response to evolving geopolitical risks.

Asset quality continued to improve, with the bank’s non-performing loan (NPL) ratio declining to 1.68% from 1.77% in the same period last year.

NPL coverage stood at 132%, among the highest in the industry, the bank said.

Pre-provision operating profit and loans both posted mid-teen growth, underscoring what the bank described as resilient operational performance.

BDO’s capital position remained solid, with its common equity tier 1 (CET1) ratio at 13.3%.

Shareholders’ equity rose 9%, while book value per share increased 8% to ₱119.36.

Return on average common equity stood at 12.8% for the quarter.

The bank said its diversified business model and strong financial position would support long-term growth as it seeks to capture emerging opportunities in a dynamic operating environment.