In 2024, the Bank delivered another year of solid performance with record full year net income of Php 62.0 billion, up 20% year-on-year, driven by revenues which was partly offset by higher operating expense and provisions.
Total assets stood at Php 3.3 trillion, up 14.9% year-on-year. Total loans stood at Php 2.3 trillion, a 18.2% increase over the previous year, inclusive of the portfolio acquired from the merger with Robinsons Bank Corporation, while Total deposits stood at Php 2.6 trillion, up 13.9% year-on-year.
Asset quality remains robust with NPL ratio was at 2.13%, with the NPL coverage ratio at 106.2% as of the end of the year.
Financial Operating Highlights
| Consolidated | |||
|---|---|---|---|
| 2023 | 2024 | Change | |
| BALANCE SHEET (in Php mn) | YoY | ||
| Assets | 2,888,372 | 3,318,813 | 14.90% |
| Liquid Assets | 1,198,598 | 1,553,229 | 29.59% |
| Treasury Securities | 625,019 | 658,618 | 5.38% |
| Gross Loans | 1,935,339 | 2,287,047 | 18.17% |
| Net Loans | 1,882,007 | 2,238,765 | 18.96% |
| Deposits | 2,295,106 | 2,614,802 | 13.93% |
| Equity (1) | 357,204 | 430,469 | 20.51% |
| INCOME STATEMENT (in Php mn) | |||
| Net Interest Income | 104,350 | 127,586 | 22.27% |
| Non-Interest Income | 33,971 | 42,553 | 25.26% |
| Net Revenues | 138,321 | 170,139 | 23.00% |
| Operating Expenses | 69,110 | 83,796 | 21.25% |
| Pre-provision Profit | 69,211 | 86,342 | 24.75% |
| Impairment Losses | 4,000 | 6,600 | 65.00% |
| Net Income (1) | 51,687 | 62,049 | 20.05% |
| FINANCIAL PERFORMANCE INDICATORS | |||
| Profitability | In bps | ||
| Return on Equity | 15.35% | 15.07% | -28 |
| Return on Assets | 1.93% | 1.98% | 5 |
| Margins and Liquidity | |||
| Net Interest Margin | 4.09% | 4.31% | 22 |
| Net Loans to Deposit Ratio | 82.00% | 85.62% | 362 |
| Cost Efficiency | |||
| Cost to Income Ratio | 49.96% | 49.25% | -71 |
| Cost to Average Assets Ratio | 2.58% | 2.67% | 10 |
| Asset Quality | |||
| NPL Ratio (2) | 1.84% | 2.13% | 29 |
| NPL Cover | 156.08% | 106.22% | -4,986 |
| Capital and Leverage | |||
| Tier 1 Ratio | 15.29% | 13.79% | -150 |
| CET 1 Ratio | 15.29% | 13.79% | -150 |
| Capital Adequacy Ratio | 16.18% | 14.49% | -169 |
| Leverage Ratio | 10.95% | 10.75% | -20 |
| DISTRIBUTION NETWORK AND MANPOWER | YoY | ||
| Branches/International Offices | 1,189 | 1,266 | 77 |
| ATMs | 2,086 | 2,581 | 495 |
| Employees | 19,522 | 22,603 | 3,081 |
| Officers | 7,659 | 9,084 | 1,425 |
| Staff | 11,863 | 13,519 | 1,656 |
| SHAREHOLDER INFORMATION | YoY | ||
| Market Value | |||
| Share Price | 104 | 122 | 17.53% |
| Market Capitalization (in Php mn) | 513,311 | 643,196 | 25.30% |
| Valuation | |||
| EPS, Basic and Diluted | 10.90 | 11.78 | 8.10% |
| Book Value per Share | 72.23 | 81.65 | 13.04% |
| Price-Earnings Ratio | 9.93 | 10.37 | 4.38% |
| Price to Book Value | 1.44 | 1.49 | 3.98% |
| Dividends | |||
| Cash Dividends Paid to Common Shareholders (in Php mn) | 15,933 | 20,878 | 31.03% |
| Cash Dividends per Common Share | 3.36 | 3.96 | 17.86% |
| (1) Attributable to equity holders of BPI | |||
| (2) Based on BSP circular 941 | |||
View our Historical Financial Operating Highlights
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Financial Statements
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