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Ayala-led Bank of the Philippine Islands saw double-digit growth in its bottom line in the first half of 2024 on the back of strong revenues.In a disclosure to the Philippine Stock Exchange on Thursday, BPI reported a net income of P30.6 billion, up 21.5% year-on-year.The bank booked total revenues of P81.2 billion, up 23.8% year-on-year, boosted by 22.2% growth in net interest income to P61.3 billion.Non-interest income, meanwhile, jumped by 28.7% to P19.9 billion on the back of a 28.
0 billion and foreign exchange gains of P2.2 billion, up 58.6%.BPI said strong fee income performance was led by higher service charges, bancassurance income, and credit card fees.The bank’s total loans stood at P2 trillion, up 18% year-on-year, driven by sustained growth across all portfolios led by personal loans, up 128.7%, business banking, up 87.9%, and microfinance, up 67.2%.Total deposits amounted to P2.5 trillion, up 14.4% year-on-year.
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