BPI nets record P62 billion in 2024
MANILA, Philippines — Bank of the Philippine Islands (BPI) booked a record P62 billion in net profit last year, up by 20 percent, as its loan portfolio expanded.
In a stock exchange filing on Monday, the Ayala-led bank said its revenues swelled by 23 percent to P170.1 billion.
This was on the back of BPI’s net interest income jumping by 22.3 percent to P127.6 billion.
READ: BPI posts record-high P48 billion earnings in first 9 months
Total loans ended at P2.3 trillion, up by 18.2 percent, buoyed by BPI’s merger with the Gokongweis’ Robinsons Bank Corp.
Article continues after this advertisementMeanwhile, noninterest income reached P42.6 billion, representing a 25.3-percent surge on gains from its credit card, wealth management and bancassurance businesses.
As of end-December, the country’s third largest bank saw its total assets rise by 14.9 percent to P3.3 trillion.