BPI posts P39.6 billion net income in 2022; up by 66 percent

ABS-CBN News

<p>MANILA - The Bank of the Philippine Islands said it ended 2022 with a full year net income of P39.6 billion, up 66 percent compared to the previous year due to strong loan growth and lower provisions, among others.</p><p>Excluding the impact of the one-off gain from the property sale in the second quarter, net income stood at P35.9 billion or up 50.2 percent, the bank said in a disclosure to the stock exchange.</p><p>In the fourth quarter, BPI said its net income reached P9.1 billion, higher by 41.4 percent year-on-year and down 10.3 percent quarter-on-quarter.</p><p>BPI said it generated a record P118.5 billion in revenues, up by 21.7 percent.</p><p>As of Dec. 31, 2022, total loans stood at P1.7 trillion, higher by 15.3 percent led by growth in the credit card, corporate or SME and auto portfolios, the bank said.</p><p>Several banks have reported a notable increase in lending activities as the economy continues to reopen and recover from the impact of the COVID-19 pandemic.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/02/23/bank-and-shop-bpi-partners-with-lazada">BPI partners with Lazada; brings financial services to online marketplace</a></li>	<li><a href="https://news.abs-cbn.com/business/04/28/22/bpi-prepared-to-compete-with-digital-banks-ceo">BPI says ready to compete with digital banks; hikes tech spending for 2022</a></li>	<li><a href="https://news.abs-cbn.com/business/08/01/22/return-of-consumer-confidence-driving-loan-growth-bpi">Despite rising interest rates, return of consumer confidence driving loan growth: BPI</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2183280" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Bank of the Philippine Islands said it ended 2022 with a full year net income of P39.6 billion, up 66 percent from the previous year. 

BPI posts P39.6 billion net income in 2022; up by 66 percent | ABS-CBN

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BPI posts P39.6 billion net income in 2022; up by 66 percent

BPI posts P39.6 billion net income in 2022; up by 66 percent

ABS-CBN News

Published Feb 06, 2023 10:26 AM PHT

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