• By The Financial District

BPI Nets P17.5B

The Bank of the Philippine Islands posted a net income of P17.5 billion for the period January to September 2021, up 1.8%, from the same period last year, driven by lower provisions.


Photo Insert: One service that sets BPI apart from other local banks is the Cash Acceptance Machine (CAM).



Total Revenues for the nine-month period declined by 6.0% to P71.6 billion. Net Interest Income was lower by 5.6% to P51.2 billion, as NIM contracted by 21 bps from 3.51% to 3.31% brought about by a decline in yields across loan portfolios and treasury assets.


While Non-Interest Income was down by 7.0% to P20.5 billion on lower trading income, this was cushioned by a 27.2% increase in fee income, reflecting the strong recovery across all business lines.



Total Operating Expenses as of September 30, 2021, reached P36.5 billion, up 3.5% driven by higher technology costs as the bank continues to invest in digitalization. The cost-to-Income Ratio stood at 50.95%.


The bank booked Provisions of P10.3 billion, lower by 49.9% than the P20.5 billion booked over the same period last year. NPL ratio declined from 2.98% to 2.73%, with NPL Coverage ratio increasing from 100.45% to 130.72%.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Total Loans as of September 30, 2021, was P1.4 trillion, a 0.9% increase year-on-year, due to higher mortgage, credit card, and microfinance loans. Total Deposits were up 6.6% at P1.8 trillion.


Notably, CASA grew 12.1%, offsetting the 11.0% decrease in time deposits. The Bank’s CASA ratio was 80.1%, while the Loan-to-Deposit Ratio was 77.2%. Total Assets stood at P2.3 trillion, up 3.3% year-on-year.


Banking & finance: Business man in suit and tie working on his laptop and holding his mobile phone in the office located in the financial district.

Total Equity increased to P291.8 billion, with an indicative Common Equity Tier 1 ratio of 16.81% and a Capital Adequacy Ratio of 17.69%, both well above regulatory requirements. Return on Equity was 8.3%, while Return on Assets was 1.1%.



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