BPI nets P33B in H1 2025
BPI said its net income rose to P33.0 billion in the first half, as revenues grew 14.0% to P92.6 billion. Net interest income climbed 16.2% to P71.2 billion, while non-interest income rose 7.4% to P21.4 billion led by credit cards, insurance, and wealth management.
Operating expenses for the first half increased 11.7% to P42.7 billion, as the bank spent on technology, business volume-related expenses, and manpower structural increases.
Provisions for the period stood at P8.3 billion to reflect a 141.7% increase from the previous year, with the non-performing loan (NPL) ratio at 2.25%, and the NPL coverage ratio at 97.1%.
Total assets climbed 9.3% to P3.4 trillion, while gross loans increased 14.1% to P2.4 trillion on the back of the growth across all portfolios, led by non-institutional loans.
The bank in April said it was looking at loan growth of 12% to 13% this year, with non-institutional loans accounting for 30% of the total portfolio. —VBL, GMA Integrated News
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
3 days ago
- GMA Network
Cebu Pacific becomes PH's first carrier with 100-strong fleet
Gokongwei-led budget carrier Cebu Pacific on Friday announced its latest historic milestone as it becomes the first local carrier to operate a 100-strong fleet after receiving the delivery of its latest aircraft — a brand new A330neo. 'Reaching 100 aircraft is more than a milestone — it reflects our unwavering commitment to make air travel accessible to more Filipinos,' said Xander Lao, Cebu Pacific president and chief commercial officer. 'With a larger fleet, we're able to operate more efficiently, enhance connectivity across the country and the region, and pass on the benefits of scale through even lower fares,' said Lao. The airline's 100-aircraft milestone came amidst increasing demand for air travel. In June alone, Cebu Pacific said it flew a total of 2.2 million passengers, up 7.9% from the same month last year. From January to June 2025, the airline said it has flown 13.9 million passengers, up 21% from 11.5 million in the first half of 2024. Cebu Pacific said the latest A330neo aircraft is also the 12th aircraft of its kind to join its fleet, reinforcing the airline's position as the largest A330neo operator in the Asia-Pacific. The 459-seater aircraft, which arrived in Manila from Airbus' facility in Toulouse, France, is the second of four A330neos expected to join Cebu Pacific's fleet this year — the first of which arrived on March 28. The airline is expecting a total of seven aircraft to be delivered in 2025. Cebu Pacific's fleet is diversified with a mix of 12 Airbus A330s, 40 Airbus A320s, 26 Airbus A321s, and 22 ATR turboprop aircraft. —LDF, GMA Integrated News
GMA Network
5 days ago
- GMA Network
SEC gives registration, filing discounts to MSMEs
The Securities and Exchange Commission (SEC) on Thursday announced it is providing discounted rates on certain transactions to micro, small, and medium enterprises (MSMEs). In a statement, the SEC said it issued Memorandum Circular No. 8, series of 2025. 'MSMEs are the backbone of our business sector, accounting for more than 99% of all businesses in the country and generating millions of jobs for our fellow Filipinos,' said SEC Chairperson Francis Lim. 'This policy represents our strong resolve to help bring down the barriers to entry of small businesses to ensure they can grow, thrive, and continuously contribute to economic growth,' he added. Under the latest memorandum circular, the SEC grants a 20% discount on registration fees to MSMEs that seek to register as a corporation. MSMEs seeking to increase their capital stock through an amendment of their articles of incorporation will be given a 25% discount on filing fees. The discounted rates will be effective until the end of the year, or on December 31, 2025. The agency is also giving a 50% discount for the registration of securities for MSMEs who will tap the capital market as it aims to further reduce friction costs for firms going public. The discount will be effective until June 30, 2026. The SEC said that its latest memorandum circular adopts the classification of MSMEs based on asset size provided under Republic Act 9501, or the Magna Carta for Micro, Small and Medium Enterprises. Under the law, micro-sized businesses have assets of up to P3 million, up to P15 million for small businesses, and up to P100 million for medium-sized enterprises. For an increase in capital stock and securities registration filings, the president or treasurer of the applicant company shall issue a signed certification of qualification stating that the company's total assets, exclusive of the land on which the particular business entity's office, plant, and equipment are situated, it said. Earlier this month, the SEC reduced the rates for corporate data requests by 50% under Memorandum Circular No. 6, series of 2025. It has also committed to strict timelines for the processing of applications for permits, licenses, registrations, certificates, clearances, and other authorizations, in a bid to eliminate delays and remove backlogs, through the issuance of Memorandum Circular No. 7, series of 2025. —VBL, GMA Integrated News
GMA Network
5 days ago
- GMA Network
BPI nets P33B in H1 2025
Ayala-led lender Bank of the Philippine Islands (BPI) on Thursday reported a 7.8% increase in its net income in the first six months of the year. BPI said its net income rose to P33.0 billion in the first half, as revenues grew 14.0% to P92.6 billion. Net interest income climbed 16.2% to P71.2 billion, while non-interest income rose 7.4% to P21.4 billion led by credit cards, insurance, and wealth management. Operating expenses for the first half increased 11.7% to P42.7 billion, as the bank spent on technology, business volume-related expenses, and manpower structural increases. Provisions for the period stood at P8.3 billion to reflect a 141.7% increase from the previous year, with the non-performing loan (NPL) ratio at 2.25%, and the NPL coverage ratio at 97.1%. Total assets climbed 9.3% to P3.4 trillion, while gross loans increased 14.1% to P2.4 trillion on the back of the growth across all portfolios, led by non-institutional loans. The bank in April said it was looking at loan growth of 12% to 13% this year, with non-institutional loans accounting for 30% of the total portfolio. —VBL, GMA Integrated News
