Bank of the Philippine Islands (BPI) achieved a record net income of P62 billion in 2024, up 20% year on year, fueled by strong revenue growth across its diversified business. Total revenue surged 23% to P170.1 billion, buoyed by a 22.3% rise in net interest income to P127.6 billion. This growth was driven by a 16.8% rise in the average asset base and a 22-basis-point increase in net interest margin to 4.31%. Non-interest income climbed 25.3% to P42.6 billion, underpinned by strong performance in credit cards, wealth management, and bancassurance, along with securities trading gains. Operating expenses rose 21.3% to P83.8 billion, reflecting higher investments in manpower, technology, and transaction volumes. Despite the increase, BPI improved its cost-to-income ratio to 49.3%. Loan growth reached 18.2%, including the acquisition of Robinsons Bank, with strong performance in business and consumer lending.