posted a net income of P12.1 billion for the first quarter of 2023, up 52% from the same period last year, driven by growth in its asset base and margins as well as lower provisions.
Non-interest income went up by 18.6% to P7.6 billion, which BPI attributed to higher credit card billings and charges, gains in securities trading, and fees from investment banking project finance deals. BPI said its asset quality remained strong, as its non-performing loan ratio improved to 1.82% from 2.38%. The bank’s NPL coverage ratio reached 176.71%.
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