BPI delivers record earnings in first quarter of 2024 | ABS-CBN
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BPI delivers record earnings in first quarter of 2024
BPI delivers record earnings in first quarter of 2024
ABS-CBN News
Published Apr 23, 2024 12:21 PM PHT
Bank of the Philippine Islands n Makati on January 19, 2021. Jonathan Cellona, ABS-CBN News
Bank of the Philippine Islands n Makati on January 19, 2021. Jonathan Cellona, ABS-CBN NewsMANILA -- Bank of the Philippine Islands (BPI) delivered record earnings in the first quarter of 2024.
MANILA -- Bank of the Philippine Islands (BPI) delivered record earnings in the first quarter of 2024.
The Ayala-led lender disclosed to the stock exchange that its net income climbed 25.8 percent to reach P15.3 billion, as higher revenues offset the impact of higher operating expenses and provision for losses.
The Ayala-led lender disclosed to the stock exchange that its net income climbed 25.8 percent to reach P15.3 billion, as higher revenues offset the impact of higher operating expenses and provision for losses.
Revenues jumped to P39.5 billion, driven by P29.8 billion in net interest income as the Ayala-led bank continued to enjoy the high interest rate environment.
Revenues jumped to P39.5 billion, driven by P29.8 billion in net interest income as the Ayala-led bank continued to enjoy the high interest rate environment.
Operating expenses, which rose to P18 billion, was mostly used for manpower, technology, marketing campaigns, and transaction-related processing fees.
Operating expenses, which rose to P18 billion, was mostly used for manpower, technology, marketing campaigns, and transaction-related processing fees.
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Total assets reached P3.1 trillion, higher by 14.7 percent from last year's figures. Deposits, meanwhile, grew 12.8 percent to P2.4 trillion.
Total assets reached P3.1 trillion, higher by 14.7 percent from last year's figures. Deposits, meanwhile, grew 12.8 percent to P2.4 trillion.
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