The Bank of the Philippine Island (BPI) posted a net income of P8.5 billion last year, up 33 percent from the P6.4 billion posted in 2008.
With a return on equity of 13 percent, BPI remained to be the most profitable bank among its peer banks.
Capital adequacy ratio was 14.7 percent, comfortably above the Bangko Sentral ng Pilipinas’ 10 percent minimum requirement.
BPI’s share price ended at P48, a 25 percent improvement over P38.50 at end 2008. Together with the regular cash dividend of P1.80 per share, total shareholder return amounted to 29 percent for the year.
BPI’s market capitalization rose to P156 billion, still the largest in the banking industry.
BPI chairman Jaime Augusto Zobel De Ayala, expressed his appreciation for the bank’s continued growth and said that in BPI, sustainability issues and relevance to the communities the bank serves are among the important considerations.