iTech Solution
  • Blog
  • About iTech Solution
  • Contact Me
  • Disclaimer

Bank of the Philippine Islands FY 2023 Net Income Hit PHP51.7B, Up 31%

2/2/2024

Comments

 
Bank of the Philippine Islands FY 2023 Net Income Hit PHP51.7B, Up 31%
The Bank of the Philippine Islands reported its highest full-year net income of P51.7 billion, up 30.5% from the previous year's P39.6 billion, because of record revenues and lower provisions that offset an increase in operating expenses.
Net income would increase by 44.1%, excluding the one-time gain from the 2022 property sale. Fourth-quarter net income was P13.1 billion, up 44.3% year on year, because of better revenue growth and reduced provision recognition. The bank's strong financial success is due to its improved client franchise and greater customer engagement, which resulted in record volumes and market share gains in various areas. In 2023, the return on equity was 15.35%, while the return on assets was 1.93%.

Total revenues increased 16.7% year on year to P138.3 billion, attributed to a 22.7% growth in net interest income to P104.4 billion as the average asset base expanded 7.7% and the net interest margin improved 50 basis points to 4.09%. Non-interest revenue increased 1.5% to P34.0 billion on the back of record trading income gains of P5.2 billion, up 37.0% year on year, offset by a 3.0% fall in fee income to P28.8 billion. Without the impact of the 2022 one-time transaction, fee income would increase by P4.1 billion, or 16.6%, due to higher fees from credit cards, other service charges, and bancassurances.

Operating expenses rose 19.2% to P69.1 billion, driven by rising labor, technology, and marketing costs, resulting in a cost-to-income ratio of 50.0%.

The bank recorded provisions of P4.0 billion, a 56.4% decrease from last year. Asset quality is solid, with an NPL ratio of 1.84% and sufficient NPL coverage of 156.1% at the end of the year.

Total loans stood at P1.9 trillion, up 10.5% from the previous year, owing to significant growth across all portfolios. Total deposits amounted to P2.3 trillion, up 9.5% year on year, primarily due to an increase in time deposits, which offset the fall in CASA. The CASA ratio was 67.0%, with a loan-to-deposit ratio of 82.0%.

Total assets hit P2.9 trillion, representing a 10.9% increase year on year. Total equity amounted to P357.2 billion, with an indicative Common Equity Tier 1 ratio of 15.3% and a capital adequacy ratio of 16.2%, both significantly higher than statutory standards.
​
The merger of BPI and Robinsons Bank Corporation became effective on January 1, 2024, with BPI as the surviving corporation. This merger would broaden the reach and improve the overall banking experience of its consumers by using synergies between the BPI Group and Gokongwei ecosystems.
Comments
    ​PLACE YOUR ADS HERE
     Join and Subscribe to my Newsletter.
    It's FREE!

      EMAIL SUBSCRIPTION

    Subscribe to Newsletter
    ABOUT THE 
    ​
    BLOGGER
    www.itechsolutionph.com
    Hi, I'm Ralph Gregore Masalihit!
     
    An RFP Graduate (Registered Financial Planner Institute - Philippines).

    A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
    ​
    ​Currently, I'm working my way toward time and financial freedom.
    CONNECT
    ​WITH ME
    ​Follow me on
    LINKEDIN
    ​FACEBOOK x
    itechsolutionph.com


    Tweets by itechsolutionph
    ​PLACE YOUR
    ADS HERE
    PLACE YOUR
    ADS HERE

    Categories

    All
    Adobe
    AI
    Amazon
    Amazon Web Services
    AMD
    Artificial Intelligent
    ASP
    Business
    CIMB
    Cloud
    Computer Programming
    Computer Troubleshooting
    Computer Virus
    Corporate
    Cybersecurity
    Domain Name
    E Books
    E-books
    Entrepreneur
    Facebook
    Finance
    GCash
    GCredit
    Google
    Google Adsense
    Google Analytics
    Google Philippines
    Information Technology
    Instagram
    Internet
    Investments
    Linux
    Macintosh
    Malware
    Meta
    Microsoft
    Monetization
    MySQL
    Nod.ai
    NVidia
    Oracle
    Oracle Certified
    PLDT
    Programming Language
    Search Engine Optimization
    SEO
    SERP
    Smart Communication
    Smartphone
    SQL
    SQL Server
    Tech Innovators
    Technology
    VBScript
    Web Hosting
    Website Builder
    Weebly
    Windows

    Archives

    July 2025
    June 2025
    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023

Copyright © 2011 - 2025 iTech Solution. All Rights Reserved.

For comments and suggestions, please send your email to the Web Administrator.

Should any problems arise with regard to your viewing experience, please report it to us. Thank you!


Designed and Developed by iTech Solution

  • Blog
  • About iTech Solution
  • Contact Me
  • Disclaimer