trending Market Intelligence /marketintelligence/en/news-insights/trending/2vZgqzeOSWk6ggzF78XnXQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Bank of the Philippine Islands posts 24.6% YOY rise in H1 net income

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Bank of the Philippine Islands posts 24.6% YOY rise in H1 net income

Bank of the Philippine Islands reported a 24.6% year-over-year increase in net income for the six months ended June 30.

The bank on Aug. 1 said net income for the first half rose to 13.74 billion Philippine pesos from 11.03 billion pesos in the year-ago period.

Net income for the second quarter came to 7.01 billion pesos, up 46.8% year on year.

The bank's total revenues for the first half rose 23.3% to 45.90 billion pesos, while net interest income rose 24.1% to 32.36 billion pesos. Noninterest income went up 21.5% year on year to 13.54 billion pesos, driven by increases in securities trading gains and fee-based income.

The lender's operating expenses grew 14.4% to 24.28 billion in the first half, mainly due to continued technology spend, continued build-out of new microfinance branches, as well as one-time manpower expenses related to the recently concluded collective bargaining agreements.

Provision for loan losses for the period, which included specific reserves for South Korean shipbuilder Hanjin Heavy Industry Co. Ltd., amounted to 3.48 billion pesos.

At the end of June, the Philippine lender's nonperforming loan ratio remained flat at 1.86% from the end of 2018.

The bank's capital adequacy ratio as of June 30 came to 16.44%, while its common equity Tier 1 ratio clocked in at 15.55%.

As of July 31, US$1 was equivalent to 50.84 Philippine pesos.