BPI, AUB post record-high 9-month income

Ayala-led Bank of the Philippine Islands (BPI) and Rebisco-led Asia United Bank (AUB) both saw their earnings reach record-high from January to September, driven by robust revenues and loan portfolio.

- Louise Maureen Simeon

In separate regulatory filings, BPI said its net income for the nine-month period increased by more than 24 percent to a record P48 billion from P38.6 billion in the same period last year as revenues improved by 25 percent to P125.8 billion.

For the third quarter alone, BPI recorded its highest quarterly income of P17.4 billion, rising by nearly 30 percent due to a strong revenue expansion of 26 percent to P44.6 billion.

BPI said its net interest income grew by 22 percent to P93.8 billion following a 22-basis-point increase in net interest margin to 4.29 percent.

The bank said non-interest income rose by 32.4 percent to P31.9 billion from securities trading gains of P3 billion while fee income also widened 28 percent to P26.4 percent on higher service charges, credit card fees and bancassurance income.