Bank of Philippine Islands Q1 Net Profit Surges 52%

Bank of the Philippine Islands

reported a 52% rise in its first-half net profit. The bank's net profit jumped to 9.4 billion pesos ($225 million) in the period, versus PHP6.2 billion, in the year-ago period. Its revenue surged 24% in the period. Its net interest income in same period climbed 9%. Its loan portfolio rose 17% y/y to PHP480 billion in the first half. The bank's net profit in the second quarter gained 8% y/y to PHP3.6 billion.