Negosyante News

November 5, 2024 5:24 pm

BDO Reports ₱12.3 Billion Net Income in Q3

IMG SOURCE: Page One

Banco De Oro (BDO) reported a net income of ₱12.3 billion in the third quarter, bringing its earnings for the first 9 months of the year to ₱16.6 billion, a 48% fall for the same period last year.

In a statement, BDO said “The delinquency problem on loans have not yet peaked, interest rate caps on credit cards will be instituted soon and there are added costs in doing business as a result of necessary precautions inherent in the Bank’s operations,”

The bank added “The Bank remained supportive of its borrowing clients, ensuring continued access to their credit facilities to help them manage their funding requirements during these challenging times, notwithstanding loan payment deferments under Bayanihan I and II.”

 

Source: ABS-CBN

Comments are closed for this article!

Subscribe to Our Newsletter and get a free pdf:

Sign Up for negosyante news

and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!

* indicates required