BPI net profit jumps

Net profit of the Ayala-led Bank of the Philippine Islands grew by 29.5 percent to P22.03 billion as a result of lending, treasury and fee-based businesses.

In the third quarter of 2019 alone, BPI’s net profit rose by 38.6 percent to P8.29 billion, the bank told the Philippine Stock Exchange in a disclosure on Wednesday, Oct. 16.

Total revenue for the nine-month period increased by 24.8 percent to P71 billion, driven by a 19.8-percent growth in net interest income which reached P48.66 billion./TSB