Metro Manila (CNN Philippines, April 20) — Ayala-led Bank of the Philippine Islands (BPI) started the year on a positive note with its profit climbing by 52% in the first quarter.
In a disclosure on Thursday, the lender said net income reached ₱12.1 billion driven by “asset base expansion, margin growth, and lower provisions.”
It also realized a 25.1% increase in total revenues in the January-March period reaching ₱31.7 billion on the back of the 27.2% jump in net interest income.
As of end-March, BPI said its total loans amounted to ₱1.7 trillion, up 13.6%, on higher loan growth in the corporate, credit card, and auto portfolios.
Total deposits, meanwhile, grew 13.6%% to ₱2.1 trillion.
BPI finished the quarter with total assets standing at ₱2.7 trillion.
