BDO on Track to Meet PhP8.1B Net Income Goal for 2010

Banco De Oro Unibank Inc.‘s (PSE: BDO) consolidated resources has breached the PhP1-trillion mark at the end of 2010, a 16% increase from the previous year’s level of PhP862 billion. The growth was driven by the steady performance of BDO’s various businesses. As such, BDO is also on track to attain its net income goal of PhP8.1 billion for the full year of 2010.

BDO has been aggressive in pursuing diverse opportunities to expand its product offerings and services, thus resulting to stable margins. It aims to continuously do well by leveraging on its operating scale and maintaining good growth in its core businesses. As of end September 2010, BDO posted a net income of PhP6.4 billion, up 58% over the same period in 2009, on the back of sustained growth in business volumes amid a tempered hike in operating expenses.

BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management, and remittances. Through its subsidiaries, it offers leasing and financing, investment banking, private banking, bancassurance, insurance brokerage, and stock brokerage services. BDO has one of the largest distribution networks with over 700 branch licenses and more than 1,400 ATMs, nationwide.


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