BDO Unibank Inc., the country’s largest lender controlled by tycoon Henry Sy, climbed 12 places to rank 243rd among the world’s biggest in 2016, according to The Banker.
BDO moved up from 255th place in 2015 in the Top 1000 World Banks, compiled by the British financial publication.
BDO was also the highest ranked bank in the Philippines given its strength, size, healthy earnings and stable performance.
BDO posted a record net income of P25 billion in 2015, on robust growth across all business segments. This represented an increase of 10 percent year-on-year, matching the bank’s earnings guidance for 2015 despite the challenging operating environment.
BDO also achieved another milestone by becoming the first domestic bank to reach the P2-trillion mark in total assets.
BDO posted a 13-percent increase in net income in the first half to P13.2 billion from P11.7 billion a year ago.
The bank said this was a result of broad-based improvement across the bank’s businesses and a one-time gain from the consolidation of BDO Life.
Customer loan portfolio grew to P1.4 trillion, outpacing the industry with a 21-percent increase. Total deposits went up 17 percent to P1.8 trillion, driven by the 23-percent jump in low-cost deposits.
Net interest income advanced 17 percent to P31.7 billion. Fee-based service income rose 18 percent to P10.6 billion.