AYALA-LED Bank of the Philippine Islands' (BPI) net income for the first nine months of 2024 surged by 24.3 percent to a record P48 billion from P38.6 billion a year earlier, driven by robust revenue growth and sustained positive operating leverage.
AYALA-LED Bank of the Philippine Islands' net income for the first nine months of 2024 surged by 24.3 percent to a record P48 billion from P38.6 billion a year earlier, driven by robust revenue growth and sustained positive operating leverage.The bank told the stock exchange on Thursday that it also recorded its highest quarterly income to date of P17.4 billion, 28.9 percent higher than the year-earlier P13.5 billion.
9 percent, with net interest margin widening by 22 basis points to 4.29 percent, while noninterest net income grew to P31.9 billion from securities trading gains of P3 billion.Fee income was up 28 percent year on year to P26.4 billion, attributed to higher service charges, credit card fees and bancassurance income.For the third quarter alone, BPI posted a 26.3-percent growth in revenues to P44.6 billion from P35.3 billion in the same quarter last year.It said that gross loans grew to P2.
9-Month Income Grows To Record P48B
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