• May 03, 2016
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BPI posts net income of P5.0B in 1Q2016

Makati City, Philippines -- Bank of the Philippine Islands (BPI) first quarter 2016 net income was P4.98 billion, 1.3% higher than the P4.92 billion earned in the same period last year on strong results from core lending business, non-interest income, and securities trading. Comprehensive income was P5.65 billion, +12.6%.

Revenues. Total revenues at P15.27 billion, was up +4.9%, as net interest income posted a 6.0% increase to P10.0 billion. Non-interest income grew 2.8% to P5.27 billion with securities and FX trading combining for a P1.2 billion gain or +22.1%.

Operating expenses. Operating expenses ended at P7.85 billion, or +7.3%, mainly driven by increases in regulatory and marketing-related costs.

Profitability. The Bank’s cost-to-income ratio was 1.1% higher than last year at 51.4%. ROA was 1.3%, down 0.2% from the prior year; ROE was 13.1%, down 0.8%.

Total loans and deposits. Total loans stood at P861.22 billion, +18.1% on a 78%-22% corporate-retail mix. Gross 90-day NPLs slightly decreased to 1.69%, from 1.70%. Reserves cover was 114.2%. Total deposits stood at P1.30 trillion, +12.1% year-on-year. CASA ratio at the end of the first quarter was 72.6 %.

Total assets. Total assets ended at P1.54 trillion, +8.6% or P122.70 billion above that of the same period last year.

Investment securities. Investment securities was at P301.84 billion, a 15.6% increase year-on-year. The Bank’s investment portfolio continues to be heavily-weighted in held-to-maturity (HTM) securities, at P253.79 billion.

Total capital. Capital was P155.99 billion, up 7.1%. CAR ended at 13.9%; CET1, 13.0%.

Re-disseminated by The Asian Banker