MANILA -The Ayala Groups' Bank of the Philippine Islands (BPI) saw profits soar in the first quarter of 2023 as total loans expanded by 13.6 percent to P1.7 trillion amid optimism on the economy's growth prospects for the year. From January to March this year, BPI saw net income rise 52 percent to P12.1 billion, translating to a return on equity of 15.4 percent. Revenues also increased by more than 25 percent to P31.7 billion. 'The solid performance was attributable to average asset base expansion, margin growth, and lower provisions,' the country's third-largest lender said in a stock exchange filing on Thursday.

https://business.inquirer.net/396824/bpi-net-income-surged-52-to-p12-1b-in-q1

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