BDO UNIBANK, Inc. expects to sustain its profit growth in 2025 on continued core business expansion amid expectations of rate cuts from the Philippine central bank.

“We’re hoping to sustain our net income growth because our earnings come more from our core businesses, no extraordinary items, so that should be sustainable,” BDO President and Chief Executive Officer (CEO) Nestor V. Tan told BusinessWorld on the sidelines of a BDO event on Friday.

The Sy-led bank’s net income grew by 13.26% year on year to P21.18 billion in the third quarter, driven by the continued growth of its core businesses. This brought BDO’s nine-month net income to P60.62 billion, climbing by 12.47% from a year ago.

“We see slow and steady growth. We expect to have a good economic environment,” Mr. Tan added.

The Monetary Board will hold its last policy review of the year on Dec. 19. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. has said it is possible to deliver a 25-basis-point (bp) rate cut at the meeting.

The central bank has cut the policy rate by 50 bps since it started its easing cycle in August, bringing its key interest rate to 6%.

Meanwhile, BDO on Friday held a time capsule-laying ceremony to mark the start of construction of its BDO Corporate Center in Makati City.

The financing for the twin-building will come from the bank’s working capital, Mr. Tan said. “It’s our office so whatever we pour into here will be savings on rent and similar things. It’s planning for our expansion.”

The complex will be one of BDO’s three main offices, alongside the existing BDO Corporate Center Ortigas and the still to be completed BDO Corporate Center Cebu. — Aaron Michael C. Sy