Total revenues surged 23 percent to P170.1 billion, fueled by a 22.3-percent jump in net interest income to P127.6 billion, as BPI’s asset base grew 16.8 percent and margins widened.
Strong profit indicators
Non-interest income climbed 25.3 percent to P42.6 billion, boosted by gains in credit cards, wealth management, and bancassurance.
BPI’s return on equity stood at 15.1 percent, while return on assets came in at 2 percent, reflecting strong profitability despite higher expenses.
P2.3-trillion loan book
Total loans expanded 18.2 percent to P2.3 trillion, with organic growth at 13 percent, excluding the Robinsons Bank merger.
Institutional lending rose 11.1 percent, while non-institutional loans jumped 41.7 percent, led by business banking (126 percent), personal loans (92.1 percent), and microfinance (62.3 percent).
Loan losses in check
Deposits climbed 13.9 percent to P2.6 trillion, with more funds shifting from time deposits to bonds, bringing total funding to P2.78 trillion, up 14.2 percent.
Despite aggressive expansion, operating expenses rose 21.3 percent to P83.8 billion, driven by investments in manpower and technology.
Loan provisions increased 65 percent to P6.6 billion, keeping the non-performing loan ratio at 2.13 percent, with a 106.2 percent coverage ratio.
BPI closed the year with P3.3 trillion in total assets, P430.5 billion in equity, and capital ratios well above regulatory limits.
