The Bank of the Philippine Islands (BPI) reported net income of P48.9 billion for the first nine months of 2026, supported by sustained loan expansion, stronger fee-based revenues and continued business activity, while higher operating costs and credit provisions tempered earnings.
Total revenues rose 9.8 percent year-on-year to P156.3 billion. Net interest income increased 11 percent to P121.1 billion, reflecting a 10.7 percent expansion in average earning assets and a net interest margin of 4.6 percent. Non-interest income climbed 5.8 percent to P35.2 billion, led by a 15.5 percent increase in fee income from credit cards, wealth management and insurance.
Operating expenses grew 12.5 percent to P73.7 billion, outpacing revenue growth and bringing the cost-to-income ratio to 47.1 percent. Provisions rose 69.2 percent to P19.9 billion, although third-quarter provisioning declined 16.5 percent from the previous quarter. The non-performing loan ratio edged up to 2.50 percent, while NPL coverage stood at 89.6 percent.
BPI’s total assets reached P3.9 trillion, up 10.8 percent year-on-year. Loans expanded 13.6 percent to P2.7 trillion, with non-institutional lending growing 18.9 percent. Small and medium enterprise loans surged 46.7 percent, followed by credit cards at 27.2 percent and personal loans at 21.7 percent. Deposits increased 11 percent to P3.0 trillion.
Capital remained above regulatory requirements, with an indicative Common Equity Tier 1 ratio of 13.9 percent and a capital adequacy ratio of 14.7 percent. Return on equity was 13.6 percent, while return on assets reached 1.8 percent.
Effective October 1, the merger of BPI Direct BanKo and Legazpi Savings Bank took effect, reinforcing the bank’s microfinance and teachers’ lending strategy. The results highlight BPI’s growth momentum, alongside cost pressures and credit risks that warrant continued monitoring.
