Makati City -- Bank of the Philippine Islands (BPI) full-year (FY) net income for 2015 was P18.23 billion, 1.1% higher than the P18.04 billion earned in 2014. Total revenues rose by 6.4% to P59.36 billion, driven by net interest income, which rose 11.0% to P38.64 billion. Comprehensive income was P16.69 billion, down 7.1%.
Revenues. The Bank’s trading performance weathered a volatile year, with FX and securities trading marking gains of P2.86 billion. Non-interest income was P20.72 billion, down 1.2%.
Operating expenses. Operating expenses grew to P31.87 billion, or +6.4%, the same pace as revenues.
Profitability. The bank’s cost-to-income ratio remained at 53.7%. ROA was 1.3%, down 0.1% from the prior year; ROE was 12.3%, down 1.4%.
Total loans and deposits. Both total loans and total deposits grew to record levels in 2015. Total loans stood at P872.86 billion, up 9.1% on a 78%-22% corporate-retail mix. Gross 90-day NPLs were 1.6%, up slightly from 1.5%. Loan loss cover was 110.2%, not counting the value of collateral. Total deposits stood at P1.28 trillion, up 8.5% year-on-year. CASA ratio at the end of the year was 72.3%.
Total assets. Total assets ended at P1.52 trillion, 4.6% or P66.16 billion above that of last year.
Investment securities. Investment securities closed at P295.18 billion, a 6.7% increase year-on-year. The bank’s investment securities was mostly held-to-maturity (HTM), at P244.81 billion.
Total capital. Capital, net of all cash dividends declared at year-end, was P150.28 billion, up 4.3%. CAR ended at 13.6%; CET1, 12.7%.
Re-disseminated by The Asian Banker