BPI profits at P18.2 billion; revenues hit P59.4B for 2015

The Bank of the Philippine Islands (BPI) generated a net income of P18.23 billion in 2015 from P18.04 billion the year before.

Total revenues achieved a 6.4-percent increase to P59.36 billion, attributed to a higher net interest income: P38.64 billion, up by 11 percent from 2014.

BPI’s trading performance weathered a volatile year, with FX and securities trading marking gains of P2.86 billion, and with investment securities closing at P295.18 billion, and held-to-maturity clinching up P244.81 billion, or 6.7 percent better than 2014’s figure.

Total loans increased by 9.1 percent at P872.86 billion on a 78 percent-22 percent corporate-retail mix.

Gross 90-day nonperforming loans were 1.6 percent, up slightly from 1.5 percent. Loan loss cover was 110.2 percent, not counting the value of collateral.

Total deposits stood at P1.28 trillion, up 8.5 percent year-on-year. CASA ratio at the end of the year was 72.3 percent.

“Last year, we worked to strike a balance between growth and profitability. Amidst volatile markets, we focused on margins and fees. We organized the bank around clients, recognizing that they are key to our success,” said Cezar P. Consing, BPI president and CEO.

BPI measures profitability in terms of bank’s cost-to-income ratio remained at 53.7 percent.

Return on assets was 1.3 percent in 2015, down 0.1 percent from the year prior; return on equity was 12.3 percent, down 1.4 percent.

BPI’s disclosure also reported that non-interest income was P20.72 billion, down 1.2 percent. Comprehensive income was P16.69 billion, down 7.1 percent. Operating expenses grew to P31.87 billion, or over 6.4 percent, the same pace as revenues.

BPI’s total assets reached P1.52 trillion, 4.6 percent or P66.16 billion more that in 2014.

Capital, net of all cash dividends declared at year-end, was P150.28 billion, up 4.3 percent. CAR ended at 13.6 percent; CET1, 12.7 percent.

Last year marked the introduction of new services and initiatives that further enhanced BPI’s standing as a leading banker to Filipinos and their communities.

BPI Electronic Services introduced value-added features that enhance customer security and experience, such as SMS and e-mail notification of automated-teller-machine withdrawals; Viber mobile chat; and the BPI Express Mobile app for Windows smartphones.

BPI also introduced in 2015 what it called the Pera (Personal Equity and Retirement Accounts) accreditation, a retirement planning instrument for Filipinos as a complement to social security. This has been accredited by the Bangko Sentral ng Pilipinas t

BPI also increased financial services to overseas Filipinos, through a partnership with the Western Union Co. and the launch of a full-service branch at the Philippine Overseas Employment Administration (POEA) office.

The bank assumed full ownership of BanKO and developed a new program targeted at Self-Employed Micro Entrepreneurs (SEMEs). RIZA LOZADA