BPI eyeing relevance in Southeast Asian growth


Ayala-led Bank of the Philippine Islands (BPI) on Thursday said that it is looking to increase its relevance not just in the country but regionwise.

In a press briefing on Thursday, BPI President Cezar Consing said that as the Association of Southeast Asian Nations (Asean) integration in 2015 is coming, the bank aims to be relevant in not just in the Philippines but also in the region’s context.

“That means we have to be strong not only in the Philippines, that means we have be meaningful into the region. How do we achieve that? There are many ways and that is something that we at the management team look at all the time,” he said.

Furthermore, Consing said that it is a very exciting time to go in the Philippines, now that the growth rates were in a good position and the banking system is doing well.

“As a country, the amount of debt relative to the gross domestic product is still small relative to the rest to the region. If we can get rates up, if we can get per capita income up, the amount of business that will generate and the amount of opportunity for the banks like us will be considerable,” he said.

Consing also hopes that come Asean 2015, the country will become more relevant, and eventually lead the region.

For the first half of 2013, BPI registered a net income of P12 billion, a 27-percent increase over the P9.4 billion made during the same period in 2012.

Its total assets reached P1.02 trillion at the end of the first half of 2013, while its loan portfolio grew by 17 percent year-on-year.

Meanwhile, the bank’s capital adequacy ratio as of June 30 stood at a strong 14.3 percent.

“With the first-half figure, I think we weathered market volatility quite well,” Consing said.


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