BDO Unibank Inc. moved up two notches to #7 in Business World’s Top 1000 Corporations by Gross Revenue in the Philippines, emerging as the highest-ranked bank on the annual list for 2018.
The local business newspaper ranks companies based on their gross revenue for the most recent year. It reviews audited financial statements, which cover the fiscal year ending between May and December of the previous year, and between January and April of the current year, submitted to the Securities and Exchange Commission for private firms and the Commission on Audit for government-owned and –controlled corporations.
The bank in 2018 delivered a record net income of P32.7 billion, up 17 percent from its previous year’s earnings, surpassing its P31-billion guidance for the year and making BDO the first Philippine bank to breach the P3-trillion mark in total assets.
BDO’s income in the first nine months of 2019 surged to P32.1 billion from P21.5 billion year-on-year, driven by the bank’s expansion of recurring core revenues, complemented by the sustained increase in fee incomes and life insurance premiums.
