The Bank of the Philippine Islands (BPI.PH) said Thursday that 2012 net profit rose 27% on the back of double-digit growth in its loan portfolio and fee-based income. <\/p>\n
BPI, the country's third-largest lender by assets, said in a statement that its unaudited net profit last year rose to 16.3 billion Philippine pesos ($401.5 million) from PHP12.8 billion in 2011 as its net loan portfolio increased 16% to PHP527 billion. <\/p>\n
Net interest income rose 6% due to an interest margin contraction, while fee-based income was up 25% due to higher trading gains on securities sold. <\/p>\n
BPI said total assets rose 17% to PHP985 billion. Total deposits rose 18% to PHP802 billion while assets under management climbed 11% to PHP743 billion. <\/p>\n
Write to Cris Larano at cris.larano@dowjones.com<\/a> <\/p>\n Order free Annual Report for Bank of the Philippine Islands <\/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 2013 Dow Jones Newswires <\/p>\n <\/p>\n See the original post: <\/p>\n Bank Philippine Islands: 2012 Net Profit PHP16.30 Billion, up 27%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Bank of the Philippine Islands (BPI.PH) said Thursday that 2012 net profit rose 27% on the back of double-digit growth in its loan portfolio and fee-based income. Continue reading