DESPITE higher operating expenses, Ayala-led Bank of the Philippine Islands (BPI) still booked double-digit growth in its net income for 2024. In a statement, the BPI said its net income grew 20 percent to P62 billion in 2024 while its fourth-quarter net income posted an eight percent growth to P14.
DESPITE higher operating expenses, Ayala-led Bank of the Philippine Islands still booked double-digit growth in its net income for 2024.
The BPI said its net income still grew due to its P170.1-billion worth revenue, which grew 23 percent compared to 2023. “ driven by higher income from the credit card, wealth management and bancassurance businesses, as well as gains from securities trading,” BPI said. The BPI said organic loan growth was at 13 percent driven by the growth in both institutional and non-institutional segments.
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