BPI reports net income of P17.5B in 9 months of 2021
MANILA, Philippines—Ayala-led Bank of the Philippine Islands reported a net profit of P17.5 billion in the first nine months of 2021, up by 1.8 percent year-on-year, as provisioning for probable loan losses declined.
This nine-month performance accounts for about 73 percent of earnings that market consensus expects BPI to deliver for the full year.
Total revenues for the January to September period declined by 6 percent year-on-year to P71.6 billion.
Net interest income fell by 5.6 percent year-on-year to P51.2 billion, as net interest margin contracted, while non-interest income also slipped by 7 percent to P20.5 billion on lower trading income.
On the other hand, the bank booked provisioning expense of P10.3 billion, lower by 49.9 percent year-on-year as the ratio of bad loans to total loans eased to 2.73 percent from 2.98 percent.
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