Facebook + Vera Files + Rappler = Truth?
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‘Vera Files and Rappler’s claim to glory--their membership in The Poynter, an alcohol industry-funded journalism institute. Some conflict of mores and ethos!’
April 26, 2018, 7:45 pm
Bank’s revenues rise 17% to P18B
April 21, 2017
Bank of the Philippine Islands (BPI) said first quarter profit hit P6.25 billion, up 25.6 percent from last year’s P4.98 billion.
Total revenues reached P17.96 billion, up 17.6 percent P15.27 billion.
“Comprehensive income rose 17.6 percent to P6.65 billion,” the company said in a statement.
“Net interest income hit P11.49 billion, up 15.0 percent as asset yields rose along with loan volumes. Non-Interest Income also registered strong growth, rising 22.6 percent to P6.46 billion on higher trading gains, service charges, underwriting fees, and income from asset sales,” the bank said.
Operating expenses totaled P8.73 billion, up 11.2 percent, driven mainly by additional manpower, regulatory costs, and spending on operational infrastructure.
“The bank continues to invest in processes and information systems that enhance customer experience and security. With asset quality strong, provisions were at P1.2 billion, an increase of only 2.4 percent,” BPI said.
Cost-to-income ratio improved to 48.6 percent, compared to 51.4 percent in 2016. Return on asset (ROA) and return on equity (ROE) were 1.5 percent and 15.0 percent, up 0.14 and 1.89 percentage points, respectively.
Total loans stood at P1.03 trillion, rising 19.9 percent year-on-year. Gross 90-day NPLs fell to 1.5 percent from 1.7 percent, while reserve cover rose to 123.7 percent from 114.2 percent. Total Deposits stood at P1.44 trillion, up 10.7 percent year-on-year, with low-cost float deposits at 73.9 percent of total.
BPI said its total securities amounted to P303.02 billion, largely flat compared to year-ago balances.
Held-to-maturity securities, at P263.79 billion, continue to account for a significant share of the Bank’s investment portfolio, reflecting the Bank’s continued conservative stance given the prospects of higher interest rates in the future.
Total assets stood at P1.73 trillion, up 12.4 percent. Capital was at P171.85 billion, up 10.2 percent.
Total revenues reached P17.96 billion, up 17.6 percent P15.27 billion.
“Comprehensive income rose 17.6 percent to P6.65 billion,” the company said in a statement.
“Net interest income hit P11.49 billion, up 15.0 percent as asset yields rose along with loan volumes. Non-Interest Income also registered strong growth, rising 22.6 percent to P6.46 billion on higher trading gains, service charges, underwriting fees, and income from asset sales,” the bank said.
Operating expenses totaled P8.73 billion, up 11.2 percent, driven mainly by additional manpower, regulatory costs, and spending on operational infrastructure.
“The bank continues to invest in processes and information systems that enhance customer experience and security. With asset quality strong, provisions were at P1.2 billion, an increase of only 2.4 percent,” BPI said.
Cost-to-income ratio improved to 48.6 percent, compared to 51.4 percent in 2016. Return on asset (ROA) and return on equity (ROE) were 1.5 percent and 15.0 percent, up 0.14 and 1.89 percentage points, respectively.
Total loans stood at P1.03 trillion, rising 19.9 percent year-on-year. Gross 90-day NPLs fell to 1.5 percent from 1.7 percent, while reserve cover rose to 123.7 percent from 114.2 percent. Total Deposits stood at P1.44 trillion, up 10.7 percent year-on-year, with low-cost float deposits at 73.9 percent of total.
BPI said its total securities amounted to P303.02 billion, largely flat compared to year-ago balances.
Held-to-maturity securities, at P263.79 billion, continue to account for a significant share of the Bank’s investment portfolio, reflecting the Bank’s continued conservative stance given the prospects of higher interest rates in the future.
Total assets stood at P1.73 trillion, up 12.4 percent. Capital was at P171.85 billion, up 10.2 percent.
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‘Our children should be taught by our example that health and well-being, prevention of illnesses, and longevity are all achievable through living a healthy lifestyle.’