MANILA -- Bank of the Philippine Islands (BPI) said its net income climbed to P16.6 billion in the first quarter of 2025, up 9 percent from the P15.3 billion seen in the same period last year.

In a disclosure to the stock exchange, the Ayala-led lender said this is because revenues soared by 13.1 percent to P44.7 billion, offsetting an uptick in operational expenses.

BPI said revenues jumped as net interest income jumped 15.3 percent, while non-interest income increased by 6.3 percent to P10.3 billion on the back of higher credit cards fees and transaction-based service charges.

Operating expenses reached P20.3 billion, 12.7 percent higher year-on-year, because of more expenses on manpower, technology, and business volume-related expenses.                      

Total loans hit P2.3 trillion, up 13.2 percent from last year's numbers. Assets, meanwhile, stood at P3.3 trillion.

BPI's net income climbed to a record P62 billion in 2024.

BPI sees record P62-B net income