MikeLigalig.com

By JAMES A. LOYOLA
Manila Bulletin

Bank of the Philippine Islands (BPI) posted a 13.4 percent hike in unaudited net income to P12.8 billion in 2011 from the P11.3 billion reported in the previous year.

In a disclosure to the Philippine Stock Exchange, the bank said this result translated to a Return on Equity of 15.2 percent and a Return on Assets of 1.6 percent.

BPI president and CEO Aurelio R. Montinola III commented, “2011 was both challenging and exciting. Despite Eurozone troubles, below 2010 Philippine GDP growth, and low interest rates, BPI performed creditably.”

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