Bank of the Philippine Islands (BPI) registered net income of P33 billion for the first half of 2025, a 7.8- percent improvement over the P30.6 billion earned in the same period last year, the bank said.
BPI said the increase was driven by strong revenue growth, partially tempered by the increases in operating expenses and provisions.
Total revenues for the first half of the year stood at P92.6 billion, up 14 percent from last year. This was driven by the 16.2 percent increase in net interest income to P71.2 billion, on the back of the 8.3 percent increase in the average earning asset base, and a 32-basis point expansion in net interest margin to 4.58 percent. Non-interest income reached P21.4 billion, up 7.4 percent from last year, driven by the underlying strength of the Bank’s fee businesses led by credit cards, insurance, and wealth management.
Operating expenses reached P42.7 billion, up 11.7 percent year-on-year, due to spending on technology, business volume-related expenses, and manpower structural increases. Despite the increase in opex, cost-to-income ratio improved by 96 bps to 46.2 percent, owing to robust revenue generation.
The Bank booked provisions of P7.3 billion, a 141.7 percent hike from last year. The NPL ratio was at 2.25 percent, with the NPL coverage ratio at 97.1 percent. Based on BSP Circular 941, the Bank’s NPL coverage ratio translates to 123.8 percent.
Total assets reached P3.4 trillion, up 9.3 percent year-on-year. Gross loans reached P2.4 trillion, up 14.1 percent from last year, due to robust growth across all portfolios, led by strong growth from non-institutional loans.
Total deposits grew P2.6 trillion, up 6.5 percent year-on-year. The Bank’s CASA stood at P1.6 trillion, up 2.8 percent, with a CASA Ratio of 62.4 percent, while the Loan-to-Deposit Ratio reached 90.9 percent. Total equity stood at P453.5 billion, up 11.5 percent year-on-year, with an indicative Common Equity Tier1 Ratio of 14.5 percent and a Capital Adequacy Ratio of 15.3 percent, both well above regulatory requirements.
