BPI says 9-month net income reaches P17 billion

ABS-CBN News

Posted at Nov 02 2016 08:28 PM

MANILA - Bank of the Philippine Islands (BPI) on Wednesday said net income in the first nine months of the year grew 25.6 percent on the back of higher interest and non-interest earnings.

Net income amounted to P17.38 billion from January to September this year, P4.54 billion higher from the P13.84 billion booked in the same period last year, the bank said in a statement.

The bank's net interest income grew 9.1 percent to P31.28 billion while total loans increased 19.4 percent to P931.12 billion.

“We are doing some very innovative things with both clients and our own organization to build this momentum. Our shareholders can expect us to continue to achieve volume and topline growth within a context of strong risk and cost discipline,” BPI president and chief executive Cezar Consing said.

BPI shares were down 2.47 percent to P98.60 on Wednesday.