Loans growth in 9 months lifts BPI January-September income

Quick Summary:

A record high third-quarter performance boosted the Bank of the Philippine Island’s (BPI) net income in the January to September period this year.

However, operating expenses reached P59.4 billion, a 22.1-percent growth due to higher costs for manpower, transaction processing and technology; leading to a 47.2-percent cost-to-income ratio.

On a sequential quarter-on-quarter basis, the NPL ratio increased only 10 basis points to 2.3 percent, with sufficient NPL coverage at 111.17 percent.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Bank Loans Grew Income Total Percent Growth Stood Year-on-year Billion Ratio

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 16:04:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23106309

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

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