Press Release
Jul 16, 2025
MAKATI CITY, Philippines—Bank of the Philippine Islands (BPI) registered net income of PHP 33.0 billion for the first half of 2025, a 7.8% improvement over the PHP 30.6 billion earned in the same period last year, driven by strong revenue growth, partially tempered by the increases in operating expenses and provisions.
Total revenues for the first half of the year stood at PHP 92.6 billion, up 14.0% from last year. This was driven by the 16.2% increase in net interest income to PHP 71.2 billion, on the back of the 8.3% increase in the average earning asset base, and a 32-basis point expansion in net interest margin to 4.58%. Non-interest income reached PHP 21.4 billion, up 7.4% from last year, driven by the underlying strength of the Bank’s fee businesses led by credit cards, insurance, and wealth management.
Operating expenses reached PHP 42.7 billion, up 11.7% year-on-year, due to spending on technology, business volume-related expenses, and manpower structural increases. Despite the increase in opex, cost-to-income ratio improved by 96 bps to 46.2%, owing to robust revenue generation.
The Bank booked provisions of PHP 7.3 billion, a 141.7% hike from last year. NPL ratio was at 2.25%, with the NPL coverage ratio at 97.1%. Based on BSP Circular 941, the Bank’s NPL coverage ratio translates to 123.8%.
Total assets reached PHP 3.4 trillion, up 9.3% year-on-year. Gross loans reached PHP 2.4 trillion, up 14.1% from last year, due to robust growth across all portfolios, led by strong growth from non-institutional loans. Total deposits grew PHP 2.6 trillion, up 6.5% year-on-year. The Bank’s CASA stood at PHP 1.6 trillion, up 2.8%, with a CASA Ratio of 62.4%, while the Loan-to-Deposit Ratio reached 90.9%. Total equity stood at PHP 453.5 billion, up 11.5% year-on-year, with an indicative Common Equity Tier1 Ratio of 14.5% and a Capital Adequacy Ratio of 15.3%, both well above regulatory requirements.
In June 2025, the Bank issued its 1.5-year Peso-denominated fixed rate BPI Supporting Inclusion, Nature, and Growth Bonds, or BPI SINAG Bonds, with an aggregate principal amount of PHP 40.0 billion. As the first tranche under the Bank’s PHP 200 billion Bond and Commercial Paper Program, the BPI SINAG Bonds bear an interest rate of 5.85% per annum, paid quarterly. The SINAG Bonds were listed in the Philippine Dealing & Exchange Corp.
BPI was recognized as the Best Corporate Governance Bank by the Global Banking & Finance Review for its exemplary implementation of governance principles that go beyond regulatory compliance. The Bank also secured a SOC 2 Type 1 Attestation Report, which certified that the Bank’s controls meet the Trust Services Criteria of security, availability, processing integrity, confidentiality, or privacy.
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