The Bank of the Philippine Islands (BPI) has reported a slight increase in its first-quarter net income, reaching P16.9 billion, marking a 1.7 percent rise. The Ayala-led financial institution attributed this growth to robust loan expansion, improved net interest margins, and a significant boost in fee-based revenue, which helped offset rising operational costs.
In a recent disclosure, BPI highlighted that its earnings saw a 4.9 percent sequential increase from the previous quarter. Total revenues surged by 13.9 percent to P50.9 billion, driven largely by a 13.7 percent jump in net interest income.
Non-interest income also performed strongly, climbing 14.5 percent to P11.8 billion, fueled by higher credit card fees, foreign exchange gains, and trading activities. However, operating expenses rose by 15.8 percent to P23.5 billion, pushing the cost-to-income ratio to 46.2 percent.
Provisions for potential losses stood at P5.5 billion, while the non-performing loan ratio was reported at 2.42 percent, with a coverage ratio of 87.15 percent. The bank's total assets grew by 13 percent to P3.7 trillion, with loans increasing by 13.5 percent to P2.6 trillion.
Deposits also saw healthy growth, rising 10.4 percent to P2.8 trillion. BPI confirmed that its capital ratios remain well above the regulatory requirements, underscoring the bank's financial stability amid evolving economic conditions.