BPI logs $766.6m net income in 9M as provisions surge 69.2%

Operating expenses are up 12.5% and fee income also grew.

The Bank of the Philippine Islands (BPI) reported a net income of $766.61m (PHP48.9b) in the first nine months of 2026, according to its latest bourse filing.

Total revenues rose 9.8% year-on-year (YoY) to $2.45b (PHP156.3b) during the period, whilst net interest income expanded by 11% YoY to $1.9b (PHP121.1b).

Non-interest income grew 5.8% YoY to $551.84b (PHP35.2b), bolstered by fee income rising 15.5% on higher contributions from credit cards, wealth management, and insurance, according to BPI.

Operating expenses rose 12.5% YoY to $1.16b (PHP73.7b), which BPI credited to manpower, technology, and business volume-related costs. Cost-to-income ratio is 47.1%.

Provisions booked rose 69.2% YoY to $311.96m (PHP19.9b) in 9M 2026, although Q3 provisioning eased 16.5% compared to the preceding quarter, BPI said.

Non-performing loan (NPL) ratio rose to 2.5%, and NPL coverage ratio is 89.6%.

Total assets rose 10.8% YoY to PHP3.9t, with total loans growing 13.6% YoY to $42.33b (PHP2.7t). Institutional and non-institutional loans hit double-digit growth, with loans to small and medium enterprises (SMEs), credit cards, and personal loans all expanding during the period.

Total deposits rose 11% to $47.03b (PHP3t).

Common equity tier 1 (CET1) ratio is 13.9%.

(US$1 = PHP63.79, as of 29 October 2026)