BDO UNIBANK, Inc.’s net profit grew by 2% in the first quarter, with gains from robust loan growth partly tempered by higher provisioning as it guards against potential risks amid the uncertain global environment due to the Middle East conflict.
The Sy-led bank’s earnings climbed to P20.1 billion in the first three months from P19.7 billion in the same period last year, it said in a disclosure to the stock exchange on Friday.
This translated to a return on equity of 12.76, down from 13.77% in the same period last year. Return on average assets also declined to 1.47% from 1.64%.
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