BDO, BPI post higher earnings

Posted on August 01, 2011 09:39:14 PM | BREAKING NEWS

TWO OF the country's largest banks posted higher earnings in the first semester.

In separate disclosures to the stock exchange this morning, Banco de Oro Unibank, Inc. (BDO) and the Bank of the Philippine Islands (BPI) said they saw their net profit rise by 19% and 12%, respectively, in the first six months of the year.

BDO, the country's largest in terms of assets, said it booked a net income of P5 billion, up from P4.2 billion a year ago. BPI the third largest, said it recorded a net income of P6.2 billion, rising from P5.6 billion a year earlier.

BDO attributed the first-half outcome to its "strong business franchise" and a diversified revenue stream while BPI reported it saw an improvement in both net interest and non-interest income.

BDO shares finished at P64.35 apiece today, gaining 0.62%, while BPI shares closed at P61 each, adding 2.2%.