BPI net income rose 8% to Php 13 B in Q3 ’15

By Joann Santiago

MANILA, Nov. 11 (PNA) — Ayala-led Bank of the Philippine Island (BPI) posted an 8.1 percent year-on-year increase in net income in the third quarter of 2015, boosted by higher revenues.

In a statement, the bank said its net income reached Php 13.8 billion from July to September this year, up from year-ago’s Php 12.8 billion.

It traced this to the 9.1 percent hike in revenues to Php 3.67 billion, lifted by both the net interest income, which amounted to Php 2.98 billion, and non-interest income, Php 0.68 billion

Also contributing to the positive results is the slower growth of operating expense over revenues at Php 22.89 billion, up 6.7 percent year-on-year.

Relatively, loans and deposits also registered annual increases at 11.2 percent and 13.3 percent respectively.

Total loans during the period reached Php 780.07 billion while deposits totaled to Php 1.18 trillion.

The bank’s capital by the end of the quarter amounted to Php 150.44 billion, up 9.3 percent same period last year while assets reached Php 1.41 trillion.

These outcomes enabled the financial institution to have a capital adequacy ratio of 14.9 percent, higher than regulatory requirement of 10 percent. (PNA)