Bloomberg News

Banco De Oro Nine-Month Profit Rises 19% to 7.6 Billion Pesos

November 02, 2011

Nov. 3 (Bloomberg) -- Banco De Oro Unibank Inc., the Philippines’ largest lender by assets, said profit in the first nine months of the year rose 19 percent to 7.6 billion pesos, boosted by non-interest income.

Net interest income improved “slightly” to 25.7 billion pesos, while non-interest income increased 16 percent to 15.3 billion pesos, the lender said in a disclosure to the stock exchange today.

Customer loans rose 24 percent to 620.8 billion pesos, while deposits increased 15 percent, the bank said. Its non- performing loan ratio fell to 3.9 percent from 4.7 percent as of end-2010, it said.

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net


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