BPI net income dips to $532.8m in H1 2026

It increased provisions by 84%, whilst operating expense are 13.8% higher.

Bank of the Philippine Islands (BPI) has recorded a net income of $532.38m (PHP32.8b) in the first six months of 2026, lower by 0.4% year-on-year (YoY) compared to the same period a year earlier.

Southeast Asia’s oldest bank reported strong revenue growth but noted higher operating expenses and provisions during the period.

Operating expenses rose 13.8% YoY to $788.85m (PHP48.6b) on higher manpower, technology, and business volume-related costs, BPI said in a filing at the Philippine Stock Exchange.

BPI booked $215.88m (PHP13.3b) in provisions, 84% YoY higher, as expected credit losses (ECL) rose due to “deteriorating macroeconomic conditions and outlook.”

The non-performing loan (NPL) ratio was 2.42% in Q2, flat compared to the previous quarter. NPL coverage ratio expanded to 92.98%.

Return on equity (ROE) is 13.8% and return on assets (ROA) is 1.8% as of June.

Total assets rose 9.6% YoY to $60.06b (PHP3.7t), whilst total loans grew 12.4% YoY to PHP2.7t.

Institutional loans rose 8.7%, whilst non-institutional loans climbed 21.2%, led by SMEs (74.5% growth), credit cards (28.9% growth), and personal loans (21.4% growth).

Total deposits are 9.2% YoY higher to $45.55b (PHP2.8t), and loan-to-deposit ratio is 93.6%.

Common equity tier 1 (CET1) ratio is 14%, whilst capital adequacy ratio is 14.8%.

BPI distributed PHP2.58 per share in cash dividends in June, up 24% YoY.

The bank recently waived interbank transfer fees across its mobile apps and digital banking platforms.

(US$1 = PHP 61.62, as of 16 July 2026)