Bank of the Philippine Islands (BPI) reported PHP16.9 billion in
net income for the first quarter of 2026, 1.7 percent higher than the P16.6 billion earned from last year, and up
by 4.9 percent on the sequential quarter.
In a disclosure to the Philippine Stock Exchange, BPI said that earnings growth was driven by sustained loan portfolio expansion, wider net interest margins, and stronger fee-based income, leading to a return on equity (ROE) of 14.3 percent
and return on assets (ROA) of 1.9 percent.
Total revenues for the first quarter of the year reached P50.9 billion, up 13.9 percent year-on-year, strengthened
by net interest income growth of 13.7 percent. This was driven by an 11.9 percent increase in the average earning asset base and a 7-basis point expansion in net interest margins to 4.57 percent. Non-interest income rose to P11.8
billion, up 14.5 percent, fueled by higher credit card fees, forex and trading income gains, as well as stronger
deal activity.
Operating expenses ended at P23.5 billion, up 15.8% year-on-year, due to higher volume-related
technology, and manpower costs. Cost-to-income ratio stood at 46.2 percent.
The Bank recorded provisions of PHP5.5 billion for the first quarter. NPL ratio stood at 2.42 percent, with the NPL
coverage ratio at 87.15 percent.
Total assets stood at PHP3.7 trillion, up 13.0 percent year-on-year. Total loans increased by 13.5 percent year-on-year to
PHP2.6 trillion, with broad-based portfolio growth. Institutional loans rose by 8.9%, while non-institutional
loans rose at a faster rate of 24.9%, led by Business Banking, up 96.3 percent, Credit Cards, up 33.3 percent, and Personal Loans, up 26.9 percent.
Total deposits also grew 10.4 percent year-on-year to PHP2.8 trillion, bringing the Loan-to-Deposit Ratio to 91.95 percent. Total equity stood at PHP479.5 billion, up 6.9 percent year-on-year, with an indicative Common Equity Tier1 Ratio of 13.94 percent and a Capital Adequacy Ratio of 14.8 percent, both well above regulatory
requirements.
In March 2026, BPI led Philippine companies on TIME and Statista’s Asia-Pacific’s Best Companies of 2026
list, ranking 10th out of 500 companies. BPI also placed 7th and was the only bank included in the Top 20
companies recognized as a Great Place to Work® in the Philippines.
