Member News: BPI to pour more emphasis on SMEs

The Bank of the Philippine Islands (BPI) ramped up its net income by 25.6 percent in the first three months this year, earning P6.25 billion in profit in the process.
The lender on Thursday also reported total loans of P1.03 trillion, or 19.9 percent higher than last year, as well as total deposits of P1.44 trillion reflecting 10.7-percent growth for the period. At its annual stockholders meeting at Fairmont in Makati City, BPI also disclosed a 12.4-percent increase, or P191.76 billion more assets compared to the first quarter of 2016. Thus, total capital grew by 10.2 percent, or P1.73 trillion additional resources. It’s portfolio of soured or nonperforming loans improved by 1.5 percent.