Bank of Philippine Islands Q4 net up 7%

2009 full year 33% unaudited income rise is part of BPI’s recorded earnings growth.

The Bank of the Philippine Islands (BPI) registered strong business volume and revenue growth in 2009.

According to a BPI statement, the full year unaudited income rose to P8.5 billion ($184.32 million), 33 percent higher than 2008 and equivalent to a 13 percent return on equity and 1.3 percent return on assets.

The bank's net income for the fourth quarter of 2009 was also 7 percent better than 2008 and the unaudited total resources ended at P725 billion ($15.72 billion) or 9 percent higher than the previous year.

The bank's total funds managed by the increased to P187 billion ($4.05 billion) or 22 percent increase. The total funds now stand over P1 trillion ($21.68 billion).

View the full story in the Philippine Daily Inquirer.

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