NextGen Day

Sy-led BDO Unibank Inc. is planning an 8 to 10% loan expansion this year in anticipation of the economy’s ongoing recovery.

BDO President and Chief Executive Officer (CEO) Nestor Tan stated their intention to maintain the robust growth of loans, which increased by 8% year-over-year to PHP2.6 trillion in the first quarter of the year.

Tan claimed that stable assets, an increase in low-cost deposits, and an increase in the Bangko Sentral ng Pilipinas (BSP) key policy rates all continue to sustain net interest margins (NIMs).

Due to an increase in fee-based, treasury, and foreign exchange activities, net interest income reached PHP43.3 billion and non-interest income PHP18.9 billion.

The bank’s operations had broad-based development, which helped the bank recorded a net income of PHP16.5 billion.

Tan claimed that bank employees continue to be upbeat about the consistently strong profitability of their businesses.

“I think we have the right franchise, and the right balance sheet to generate income that will allow us to fund our growth,” he said.

On the other hand, he claimed that they are “a little bit more careful” because they are worried “about the collateral damage from rising interest rates, rising inflation.”

Due to the high-interest rates, he continued, “Asset growth won’t be in the mid-teens as we’ve seen in the past, but we may see some improvement in business activities kicks up.”

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