BPI net income hits P30.6 billion in first half | ABS-CBN
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BPI net income hits P30.6 billion in first half
BPI net income hits P30.6 billion in first half
ABS-CBN News
Published Jul 18, 2024 03:15 PM PHT
MANILA -- Bank of the Philippine Islands (BPI) said its net income reached P30.6 billion in the first half of 2024.
MANILA -- Bank of the Philippine Islands (BPI) said its net income reached P30.6 billion in the first half of 2024.
The lender said net income jumped 21.5 percent because of robust revenues and sustained positive operating leverage.
The lender said net income jumped 21.5 percent because of robust revenues and sustained positive operating leverage.
Revenues rose 23.8 percent to P81.2 billion, as net interest income climbed 22.2 percent to P61.3 billion.
Revenues rose 23.8 percent to P81.2 billion, as net interest income climbed 22.2 percent to P61.3 billion.
The Ayala-led bank said operating expenses increased 21.9 percent to P38.3 billion as the firm spent more on manpower, transaction processing costs, and technology.
The Ayala-led bank said operating expenses increased 21.9 percent to P38.3 billion as the firm spent more on manpower, transaction processing costs, and technology.
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Total loans reached P2 trillion, up 18 percent, on the back of sustained growth across personal loans, business banking, and microfinance. Deposits stood at P3.1 trillion, while total assets grew 15.8 percent to P3.1 trillion.
Total loans reached P2 trillion, up 18 percent, on the back of sustained growth across personal loans, business banking, and microfinance. Deposits stood at P3.1 trillion, while total assets grew 15.8 percent to P3.1 trillion.
In the second quarter, BPI booked a net income of P15.3 billion, up 17.5 percent year-on-year, as revenue grew 23 percent to P41.7 billion.
In the second quarter, BPI booked a net income of P15.3 billion, up 17.5 percent year-on-year, as revenue grew 23 percent to P41.7 billion.
Total deposits stood at P2.5 trillion, up 14.4 percent year-on-year
Total deposits stood at P2.5 trillion, up 14.4 percent year-on-year
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