AYALA-LED Bank of the Philippine Islands (BPI) booked P18.23 billion in net income last year, 1.1 percent higher than the P18.04 billion it reported in 2014, on higher loans and deposits.
In a disclosure to the Philippine Stock Exchange Friday, BPI said its total revenues rose by 6.4 percent to P59.36 billion, “driven by net interest income, which rose 11.0 percent to P38.64 billion.”
Comprehensive income, however, eased 7.1 percent to P16.69 billion. Return on equity fell to 12.3 percent.
Total loans stood at P872.86 billion, up 9.1 percent from a year earlier, of which corporate loans accounted for 78 percent while retail loans made up 22 percent.
The bank’s non-performing loan (NPL) ratio rose slightly to 1.6 percent from 1.5 percent previously, while loan loss cover was at 110.2 percent.
Total deposits stood at P1.28 trillion, up 8.5 percent year-on-year, while the current account and savings account (CASA) ratio at the end of the year was at 72.3 percent.
The bank said its trading performance weathered a volatile year, with foreign exchange and securities trading marking a gain of P2.86 billion. Its non-interest income was P20.72 billion, down 1.2 percent from 2014.
BPI’s operating expenses grew to P31.87 billion, or up 6.4 percent, the same pace as revenue growth. Its capital adequacy ratio was at 13.6 percent while common equity tier 1 ratio stood at 12.7 percent.
Meanwhile, the lender’s total assets ended at P1.52 trillion, 4.6 percent or P66.16 billion above that of the previous year.
“Last year, we worked to strike a balance between growth and profitability,” said Cezar Consing, BPI president and chief executive officer.