Bank of the Philippine Islands (BPI.PH) said Wednesday its first-half net profit surged 52% to 9.4 billion pesos ($225 million) from PHP6.2 billion a year earlier, supported by a 24% improvement in revenues. <\/p>\n
Net interest income in the January-June period rose 9% and fee-based income gained 51%, the bank said in a statement to the stock exchange. <\/p>\n
The lender's loan portfolio totaled PHP480 billion in the first half, a 17% increase from a year earlier. <\/p>\n
Net profit for the second quarter rose 8% to PHP3.6 billion from a year earlier. <\/p>\n
Write to Cris Larano at cris.larano@dowjones.com<\/a> and Rhea Sandique-Carlos at rhea.sandique-carlos@dowjones.com<\/a> <\/p>\n Order free Annual Report for BANK OF THE PHILIPPINES (BPI) <\/p>\n Visit http:\/\/djnweurope.ar.wilink.com\/?ticker=PHY0967S1694<\/a> or call +44 (0)208 391 6028 <\/p>\n Subscribe to WSJ: http:\/\/online.wsj.com?mod=djnwires<\/a> <\/p>\n Copyright 2012 Dow Jones Newswires <\/p>\n<\/p>\n More here: <\/p>\n Bank of the Philippine Islands 1st Half Net Profit up 52% at PHP9.4 Billion<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bank of the Philippine Islands (BPI.PH) said Wednesday its first-half net profit surged 52% to 9.4 billion pesos ($225 million) from PHP6.2 billion a year earlier, supported by a 24% improvement in revenues. Net interest income in the January-June period rose 9% and fee-based income gained 51%, the bank said in a statement to the stock exchange. Continue reading