The underscored the bank’s ability to sustain profitability amid tight competition and rising costs.
Strong revenue momentum
Total revenues rose 13.2 percent to P142.3 billion, driven by a 16.2 percent jump in net interest income to P109.1 billion, supported by an 8.7 percent increase in earning assets and a 30-basis-point improvement in net interest margin to 4.6 percent.
Non-interest income climbed 4.2 percent to P33.3 billion, led by credit cards, wealth management, and trading gains.
Despite a 10.3 percent rise in operating expenses to P65.5 billion, the cost-to-income ratio improved to 46 percent, reflecting better efficiency.
Healthy balance sheet and regional expansion
• BPI had total assets of P3.5 trillion, up 9.3 percent year-on-year.
• Loans rose 13.3 percent to P2.4 trillion, driven by non-institutional lending.
• Deposits climbed 7.7 percent to P2.7 trillion, with a current and savings account ratio of 61 percent and a loan-to-deposit ratio of 90.3 percent.
• Total equity reached P474.8 billion, with a Common Equity Tier 1 ratio of 14.9 percent and a Capital Adequacy Ratio of 15.8 percent, both above regulatory standards.
A few more key details
The bank capped the quarter with the launch of BPI Wealth Singapore in October, expanding its presence in Asia’s major financial hubs.
Confidence in its performance also remained solid, as S&P Global Ratings reaffirmed BPI’s BBB+ credit rating with a stable outlook, matching the Philippine sovereign grade.
—Edited by Miguel R. Camus
