BPI nets record P62 billion in 2024

BPI nets record P62 billion in 2024

BPI nets record P62B

Contributed Photo /BPI

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.

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This was on the back of BPI’s net interest income jumping by 22.3 percent to P127.6 billion.

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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.

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Meanwhile, 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.

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TAGS: BPI, net profit

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