6 months BPI posts P23-B income MB |Biz
By James A. Loyola Bank of the Philippine Islands (BPI) reported a 3 percent improvement in income last year to P23.08 billion with comprehensive income amounting to P21.88 billion. In a disclosure to the Philippine Stock Exchange, the bank said its total revenues increased by 10.6 percent to P78.52 billion, driven by 16.2 percent growth in net interest income, which reached P55.84 billion. The increase in net interest income was a result of a 9.0 percent increase in average asset base, and a 21-basis point expansion in net interest margin (NIM). Yield on interest- earning assets improved by 49 ... more