{"id":330113,"date":"2024-10-29T01:24:04","date_gmt":"2024-10-28T17:24:04","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330113"},"modified":"2024-10-29T01:24:15","modified_gmt":"2024-10-28T17:24:15","slug":"trade-the-news-bdos-net-profit-jumps-12-in-9m-2024","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-bdos-net-profit-jumps-12-in-9m-2024\/","title":{"rendered":"Trade the News: BDO\u2019s net profit jumps 12% in 9M 2024"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>BDO Unibank Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>BDO<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 180.18<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

BDO Unibank Inc. (BDO) reported a 12 percent year-on-year (YoY) growth in net profit to P60.6 billion in the first nine months of 2024.<\/p>\n\n\n\n

In a disclosure to the Philippine Stock Exchange (PSE), the bank said its growth in net income was driven by the sustained contribution of its core intermediation and fee-based service businesses.<\/p>\n\n\n\n

Annualized Return on Common Equity (ROCE) stood at 15 percent in the nine-month 2024 period.<\/p>\n\n\n\n

Regina Capital Development Corporation Managing Director Luis Limlingan said BDO’s earnings are in line with expectations and that “net income rose by roughly 11.78 percent year-on-year in the third quarter.”<\/p>\n\n\n\n

“BDO\u2019s double-digit earnings growth reflects the overall strength of the country’s universal banks on the back of continued economic expansion and favorable business fundamentals,” said Chinabank Capital Corporation Managing Director Juan Paolo Colet.<\/p>\n\n\n\n

He added that “we expect the bank to sustain its performance in the fourth quarter and end the year with more than P80 billion in net income.”<\/p>\n\n\n\n

BDO said its Gross Customer Loans increased 13 percent YoY on broad-based growth across all market segments, while total deposits expanded 10 percent YoY.<\/p>\n\n\n\n

Current Account\/Savings Account (CASA) deposit ratio remained steady quarter-on-quarter (QoQ) at 69 percent.<\/p>\n\n\n\n

Non-Interest Income rose strongly by 16 percent YoY with robust growth in fees and service charges, treasury and forex gains and income from insurance operations.<\/p>\n\n\n\n

Asset quality improved YoY and QoQ with Non-Performing Loan (NPL) ratio declining to 1.82 percent and NPL coverage increasing to 178 percent.<\/p>\n\n\n\n

Shareholders’ equity strengthened 13 percent YoY on continued profitable operations, with Book Value Per Share growing 13 percent YoY to P106.48.<\/p>\n\n\n\n

The bank said it remains well-positioned to capitalize on emerging opportunities and sustain long- term growth and profitability with its strong business franchise, solid balance sheet and extensive distribution network.<\/p>\n\n\n\n

(News Source: Manila Bulletin<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330113","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330113"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330113\/revisions"}],"predecessor-version":[{"id":330115,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330113\/revisions\/330115"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}