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BPI records slight growth in net income in first 9 months of 2021

Ayala-led Bank of the Philippine Islands (BPI) saw a slight improvement in its bottom line in the first nine months of the year, as the lender booked lower provisions during the period.

In a regulatory filing, BPI said its net income for the first nine months climbed 1.8% to P17.5 billion, while revenues fell 6.0% to P71.6 billion.

Net interest income slipped by 5.6% to P51.2 billion, as net interest margins fell by 21 basis points from 3.51% to 3.31% with yields down across loan portfolios and treasury assets.

The company booked P10.3 billion in provisions, nearly half the P20.5 billion recorded in the comparative period last year. BPI's non-performing loan (NPL) ratio fell from 2.98% to 2.73%, while the coverage ratio was at 130.72%.

The lender ended September with total loans worth P1.4 trillion, up 0.9% from last year due to high mortgage, credit card, and microfinance loans.

Assets stood at P2.3 trillion, up 3.3% from 2020, while total equity climbed to P291.8 billion.

BPI’s principal subsidiaries include BPI Family Savings Bank Inc., BPI Capital Corp., BPI Direct BanKo Inc., BPI International Finance Limited, BPI Remittance Centre Hong Kong Ltd., BPI (Europe) Plc., BPI Century Tokyo Lease & Finance Corp., BPI/MS Insurance Corp., BPI Asset management and Trust Corp., and BPI Investment Management Inc.

The company ended 2020 with 869 branches, including five kiosk branches in the country. It has one branch in Hong Kong, and two branches in London.

It also ended the year with 2,240 automated teller machines, and 467 cash accept machines. — VBL, GMA News