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.
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.
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.