BANCO DE ORO UNIBANK, INC. (BDO)
For the first nine months of 2012, BDO Unibank, Inc. (BDO) posted a 38% rise in unaudited net income amounting to Php10.5 billion from Php7.6 billion during the same period last year.
Fee-based income increased to Php10.0 billion, driven by growth from the service businesses. Trading and foreign exchange gains jumped 50% to Php7.0 billion. Overall, total non-interest income increased 23% to Php18.9 billion. Gross customer loans increased 17% to Php724.0 billion, while total deposits rose to Php860.0 billion. This led to an improvement in net interest income to Php26.8 billion.
BDO’s gross non-performing loan (NPL) ratio as of end-September 2012 was at 3.1%. The bank’s gross NPL coverage was at 124%. Provisions set aside during the period amounted to Php4.2 billion.
With the conclusion of a US$1.0 billion stock rights offer in July 2012, BDO’s capital base expanded to Php152.0 billion, making BDO the country’s largest-capitalized bank. As of end-September 2012, BDO’s Capital Adequacy Ratio (CAR) and Tier 1 Capital ratios remain comfortably above the regulatory minimums, at 20.3% and 15.2% respectively.
CHINA BANKING CORPORATION (China Bank)
China Bank posted a consolidated net income of Php5.0 billion for full year 2011, translating to a creditable return on equity of 13.7% and a return on assets of 2.0%. The bank’s gross loan portfolio grew by 32% to Php150.0 billion, with its NPL ratio improving to 2.9% in 2011 from 3.9% in 2010.
Total resources amounted to Php262.2 billion while total deposits reached Php216.1 billion. China Bank’s total capital funds reached Php39.3 billion in 2011, 10.8% more than in 2010. Its financial position remains solid with a CAR of 17.8%.