BPI posts record P62 billion net income in 2024

Bank of the Philippine Islands (BPI) reported a record net income of ₱62 billion in 2024, a 20% increase driven by its expanding loan portfolio.

The bank's total loans grew by 18.2% to P2.3 trillion, with organic loan growth from internal clients reaching 13%.

BPI's merger with Robinsons Bank on January 1, 2024, allowed it to integrate clients and access Robinsons Bank's 189 branches, including those of Legazpi Savings Bank.

Total revenues climbed 23% to ₱170.1 billion, with net interest income surging by 22.3% to P127.6 billion.

Provisions for bad loans rose by 65% to P6.6 billion amid elevated interest rates, while the non-performing loans (NPL) ratio stood at 2.13%.

BPI achieved a return on equity of 15.1% and a return on assets of 2% for the full year 2024.