sbet BPI nets record P62 billion in 2024

Contributed Photo /BPI

MANILA, Philippines — Bank of the Philippine Islands (BPI) booked a record P62 billion in net profit last year, up by 20 percent, as its loan portfolio expanded.

In a stock exchange filing on Monday, the Ayala-led bank said its revenues swelled by 23 percent to P170.1 billion.

Article continues after this advertisement

This was on the back of BPI’s net interest income jumping by 22.3 percent to P127.6 billion.

In a joint statement on Thursday, the group said the fresh funds would support the rollout of its sustainable and renewable energy, water and bulk water supply, and waste management and sustainable fuels.

Preliminary results of the PSA’s July round of the Labor Force Survey (LFS) showed the unemployment rate moved at its highest pace in a year or since the 4.9 percent in July 2023, translating to 2.38 million jobless Filipinos.

FEATURED STORIES BUSINESS BIZ BUZZ: Age just a number at KFC BUSINESS Mixed fuel price adjustments set on Tuesday, February 4 BUSINESS US tariffs: A blow to the world economy

READ: BPI posts record-high P48 billion earnings in first 9 months

damslots

Total loans ended at P2.3 trillion, up by 18.2 percent, buoyed by BPI’s merger with the Gokongweis’ Robinsons Bank Corp.

Article continues after this advertisement

Meanwhile, noninterest income reached P42.6 billion, representing a 25.3-percent surge on gains from its credit card, wealth management and bancassurance businesses.

As of end-December, the country’s third largest bank saw its total assets rise by 14.9 percent to P3.3 trillion.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.sbet

READ NEXT DA declares food security emergency amid rising price of rice Stone of Hope fueling clean energy transition EDITORS' PICK Trump’s proposed universal tariffs cast uncertainty on PH’s exports US tariffs: A blow to the world economy Grammys 2025: Beyoncé finally wins Album of the Year with ‘Cowboy Carter’ Camille Villar bats for computer programming in elementary education Mixed fuel price adjustments set on Tuesday, February 4 Fil-Am chef named semifinalist for 2025 James Beard Award MOST READ Vlogger cop under restrictive custody for alleged rape - PNP INQToday: VP Sara Duterte impeachment raps set to reach Speaker this week – House Dela Rosa last passenger to board chopper which crashed in Nueva Ecija Water service interruptions set in Metro Manila, Rizal Feb 3 to 7 Follow @FMangosingINQ on Twitter --> View comments