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BPI net income up 21% in 2016

GMA News Online logo GMA News Online 2/16/2017 Sollorano, Vic
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Bank of the Philippine Islands (BPI) on Thursday said its full-year 2016 net income reached P22.05 billion, up 20.9 percent from P18.23 billion a year earlier.

The Ayala-led lender said its comprehensive income stood at P21.74 billion, up 30.2 percent.

Total revenues amounted to P66.55 billion, up 12.1 percent as net interest Income increased by 9.7 percent at P42.38 billion.

Non-interest income totaled P24.17 billion, up 16.7 percent on the back of strong gains in securities portfolio and higher fees from core transactional and bancassurance businesses.

Total loans stood at P1.04 trillion, up 19.2 percent, with a 79:21 corporate-retail mix. Its gross 90-day non-performing loans fell to 1.5 percent from 1.6 percent.

Total deposits reached P1.43 trillion, up 12.2 percent with the current account, savings account (CASA) ratio at 73.5 percent.

 

The bank’s operating expenses reached P34.94 billion, up 9.6 percent, driven mainly by spending on general infrastructure, as well as collective bargaining costs.

Total assets amounted to P1.73 trillion, up 13.8 percent.

With BPI’s capital at P165.13 billion, up 9.9 percent, the bank’s capital adequacy ratio stood at 13.0 percent and common equity tier 1 ratio at 12.1 percent. — Ted Cordero/VDS, GMA News

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