The Bank of the Philippine Islands (BPI) reported a net income of PHP4.427 billion for the second quarter of 2014, representing increases of 21% and 23% respectively from the second quarter of 2013 and the first quarter of 2014. For the first half of 2014, BPI recorded a net income of PHP8.03 billion, a 33% decline from 2013. BPI's net interest income increased by 13% in 2014 relative to the same period in 2013 due to sustained growth in its core lending business, with net loans increasing 23% and total deposits exceeding PHP1 trillion for the first time. However, non-interest income decreased 32% reflecting BPI's reduced reliance on securities trading. BPI ended
The Bank of the Philippine Islands (BPI) reported a net income of PHP4.427 billion for the second quarter of 2014, representing increases of 21% and 23% respectively from the second quarter of 2013 and the first quarter of 2014. For the first half of 2014, BPI recorded a net income of PHP8.03 billion, a 33% decline from 2013. BPI's net interest income increased by 13% in 2014 relative to the same period in 2013 due to sustained growth in its core lending business, with net loans increasing 23% and total deposits exceeding PHP1 trillion for the first time. However, non-interest income decreased 32% reflecting BPI's reduced reliance on securities trading. BPI ended
The Bank of the Philippine Islands (BPI) reported a net income of PHP4.427 billion for the second quarter of 2014, representing increases of 21% and 23% respectively from the second quarter of 2013 and the first quarter of 2014. For the first half of 2014, BPI recorded a net income of PHP8.03 billion, a 33% decline from 2013. BPI's net interest income increased by 13% in 2014 relative to the same period in 2013 due to sustained growth in its core lending business, with net loans increasing 23% and total deposits exceeding PHP1 trillion for the first time. However, non-interest income decreased 32% reflecting BPI's reduced reliance on securities trading. BPI ended
The Bank of the Philippine Islands (BPI) reported a net income of PHP4.427 billion for the second quarter of 2014, representing increases of 21% and 23% respectively from the second quarter of 2013 and the first quarter of 2014. For the first half of 2014, BPI recorded a net income of PHP8.03 billion, a 33% decline from 2013. BPI's net interest income increased by 13% in 2014 relative to the same period in 2013 due to sustained growth in its core lending business, with net loans increasing 23% and total deposits exceeding PHP1 trillion for the first time. However, non-interest income decreased 32% reflecting BPI's reduced reliance on securities trading. BPI ended
8ank of Lhe hlllpplne lslands ('8l' or Lhe '8ank') reporLed a neL lncome of 4.427 bllllon for Lhe second quarLer of 2014, represenLlng lncreases of 21 and 23, respecLlvely, relaLlve Lo Lhe second quarLer of 2013 and flrsL quarLer of 2014. lor Lhe flrsL half of 2014, Lhe 8ank recorded a neL lncome of 8.03 bllllon, a 33 decllne relaLlve Lo 1P 2013. 1hls performance LranslaLed Lo an 8CL and 8CA of 12.9 and 1.3, respecLlvely.
1he 8ank's neL lnLeresL lncome lncreased by 13 ln 2014 P1 relaLlve Lo Lhe same perlod ln 2013, as Lhe 8ank susLalned growLh ln lLs core buslness. neL loans closed aL 697 bllllon, represenLlng a 23 lncrease. 1oLal deposlLs exceeded 1 Lrllllon for Lhe flrsL Llme, closlng ouL aL 1,072 bllllon, represenLlng a 30 lncrease over Lhe prlor year. 1he 8ank's sLrong performance ln lLs core lendlng buslness arose from lLs larger average asseL base. lurLhermore, neL lnLeresL marglns lmproved from 3.0 ln 2014 C1 Lo 3.1 ln 2014 C2.
non-lnLeresL lncome was posLed aL 9.2 bllllon, or a 32 decrease relaLlve Lo Lhe prlor year, reflecLlng Lhe 8ank's reduced rellance on securlLles Lradlng. 1he 8ank's comblned poslLlons ln held-for-Lradlng (Pl1) and avallable-for-sale (AlS) securlLles decreased by 31 from 106 bllllon aL Lhe end of second quarLer 2013 Lo 31 bllllon aL Lhe end of same perlod ln 2014.
CperaLlng expense was up by 10 as Lhe 8ank conLlnues Lo lnvesL ln lLs lnfrasLrucLure and poslLlons lLself for fuLure growLh. lLs cosL-Lo-lncome raLlo was 34 ln 2014 P1. noLwlLhsLandlng Lhe lncrease ln loan porLfollo, asseL quallLy conLlnued Lo lmprove wlLh Lhe 8ank's gross 90-day nL raLlo dropplng Lo 1.83 from Lhe 2.03 a year ago. 8eserve cover, on an l8S-compllanL basls, was 103.
1he 8ank ended Lhe quarLer wlLh a caplLal level of 132 bllllon. lLs 8asel lll CaplLal Adequacy 8aLlo (CA8) was 13.4 whlle CL1 1 raLlo was 14.3.
1oday, we celebraLe Lhe 163 rd Annlversary of our foundlng, Mr. Cezar . Conslng, 8l's resldenL and CLC sald. We are very pleased wlLh Lhe sLrengLh of our franchlse and Lhe sLrong prospecLs LhaL Lhe hlllpplne economlc envlronmenL affords us."