BDO resources hit P1 trillion in 2010

BDO resources hit P1 trillion in 2010

abs-cbnNEWS.com
Posted at 02/01/2011 6:50 PM | Updated as of 02/01/2011 6:50 PM


MANILA, Philippines - Top lender Banco de Oro Unibank Inc.'s (BDO) consolidated resources has breached the P1-trillion mark at the end of 2010.

This represents a 16% increase from the previous year's level of P862 billion, BDO said in a statement.

"The growth was driven by the steady performance of the bank's various businesses. As such, BDO is also on track to attain its net income goal of P8.1 billion for the full year of 2010," it said.

In the first 9 months of 2010, BDO posted a net income of P6.4 billion, up 58% year on year, on the back of sustained growth in business volumes and 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, deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management, and remittances.

The bank has one of the largest distribution networks in the country, with over 700 branch licenses and more than 1,400 ATMs.

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