Sy-led BDO Unibank, Inc. reported flat growth in its net income during the first quarter, as the bank sets sights to rake in P31 billion for 2018.
The bank made P5.9 billion in net profits between January-March, slightly higher than the P5.8 billion which it made during the same period in 2017.
“Additionally, BDO disclosed its earnings guidance of P31 billion for the full-year 2018, as it leverages on its strong business franchise and expands in underserved markets amid a challenging and competitive operating landscape,” the country’s biggest lender said in a disclosure on Friday, April 20.
The country’s biggest bank is also looking to raise P5 billion worth of long-term notes to raise fresh capital to manage debts and fund expansion plans.
The listed lender told the Philippine Stock Exchange on Friday that they have started offering long-term negotiable certificates of deposit (LNTCDs), which will mature in 5.5 years. The latest tranche of debt papers are initially priced at 4.5%, with the final coupon rate to be set as the offer period ends on April 30. — Melissa Luz T. Lopez