BPI: Economy in ‘great shape’ despite risks

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Bank of the Philippine Islands of the Ayala Group is optimistic about its 2024 performance despite the “higher-for-longer-longer” interest-rate environment amid the sustained strong consumers demand and spending.

“This does not necessarily mean it will bad for consumers or corporates. They just have to make a mental adjustment in their heads that we are back where it was pre-pandemic,” Limcaoco said. Total revenues climbed 24.6 percent in the first quarter to P39.5 billion, led by by a 23.5-percent increase in net interest income to P29.8 billion. It reported an 18.5-percent increase in the average daily balance of loans and a 25-basis-point rise in net interest margin to 4.19 percent.

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MlaStandard /  🏆 20. in PH

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