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MarketScreener Homepage  >  Equities  >  Philippines Stock Exchange  >  BDO Unibank, Inc.    BDO   PHY077751022

BDO UNIBANK, INC.

(BDO)
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BDO Unibank : First-Half Net Profit Plunges on Covid-19 Provisions

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07/26/2020 | 10:45pm EDT

By Ben Otto

BDO Unibank Inc.'s first-half net profit plunged 79% as the Philippine bank booked provisions due to the Covid-19 pandemic.

Net profit was 4.3 billion Philippine pesos ($87.2 million), down from PHP20.1 billion in the same period a year earlier, BDO Unibank said in a stock-exchange filing Monday.

The bank booked PHP22.4 billion in total provisions in anticipation of potential delinquencies due to the pandemic, and said that "by recognizing the provisions up front, the bank can now focus on growing its business" as movement restrictions related to Covid-19 are gradually relaxed.

It added that core business had "held up well" in the period, with pre-provision operating income rising 17% on year.

Noninterest income was PHP24.8 billion, while net interest rose 17% on year, it said.

The lender said its solid balance sheet and sustained business growth would help it weather the coronavirus crisis.

 

Write to Ben Otto at ben.otto@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
BANK OF THE PHILIPPINE ISLANDS -1.93% 73.5 End-of-day quote.-16.38%
BDO UNIBANK, INC. 0.11% 92 End-of-day quote.-41.77%
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Financials
Sales 2020 183 B 3 778 M 3 778 M
Net income 2020 27 358 M 566 M 566 M
Net Debt 2020 - - -
P/E ratio 2020 14,8x
Yield 2020 1,48%
Capitalization 403 B 8 321 M 8 340 M
Capi. / Sales 2020 2,21x
Capi. / Sales 2021 2,08x
Nbr of Employees 38 510
Free-Float 32,2%
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Technical analysis trends BDO UNIBANK, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 115,86 PHP
Last Close Price 92,00 PHP
Spread / Highest target 46,8%
Spread / Average Target 25,9%
Spread / Lowest Target -7,61%
EPS Revisions
Managers
NameTitle
Nestor V. Tan President, Chief Executive Officer & Director
Teresita T. Sy-Coson Chairman
Joseph A. Gotuaco Executive VP & Head- Central Operations Group
Frederic Mark S. Gomez Senior Vice President-Information Technology
Jesus A. Jacinto Vice Chairman
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