In the nine months to September, BPI set aside a total of P21.06 billion for estimated losses associated with the ongoing pandemic, 4.6 times more than the P4.58 billion earmarked in the same period last year.
This brought the Ayala-led bank’s nine-month earnings tot P17.17 billion, down 22.1%. Revenues went up 9.7% to P77.88 billion while net interest income rose 11.8% toP54.4 billion amid a 5.7% rise in average asset base.
Non-interest income increased by 5.1% to P23.48 billion, largely coming from robust securities trading gains.
Total loans inched up to P1.38 trillion, with growth led by the mortgage and corporate loan segments at 8.7% and 2.6%, respectively.
Meanwhile, total deposits increased by 4% to P1.68 trillion, boosted by CASA deposits which grew by 14.7%.