The Bank of the Philippine Islands (BPI) reported its highest earnings to date, showcasing strong financial growth and leadership in digital and sustainable banking. In its 2025 Annual Stockholders Meeting, the bank highlighted record-breaking profit, a rapidly expanding client base, and bold strides in financial inclusion and environmental initiatives that reflect its future-forward strategy.
BPI capped off 2024 with its strongest performance to date, marking a pivotal year of transformation, customer growth, and inclusive impact. Revenue soared 23% to Php 170.14 billion, supported by loans growth, margin expansion, securities trading gains, and growth in businesses. With full-year net income reaching a record Php 62.0 billion—up 20% year-on-year—the Bank reinforced its position as one of the country’s most resilient and forward-looking financial institutions.
“Our results demonstrated once again the continued progress we are making to improve value creation for our stakeholders. Not only did we deliver extraordinary results, we also made significant progress on the key priorities outlined in our strategy,” said BPI President and CEO Jose Teodoro “TG” Limcaoco.
This remarkable growth reflects not only the expansion of BPI’s customer base but also the Bank’s unwavering commitment to making financial services more accessible through innovation, inclusion, and a stronger digital presence nationwide.
“Our clients remain at the heart of everything that we do. In 2024, we welcomed over five million new clients, bringing our client base to 16 million, double our client count in 2021, an enormous increase by any measure and a testament not only to the continued trust and confidence of our clients, but also of the reach and scope of our digital platforms,” said BPI Chairman Jaime Augusto Zobel de Ayala.
Not only did BPI gain customers, the Bank also maintained for the second consecutive year its top spot in Net Promoter Score (NPS) among full-scale banks in the Philippines, reflecting robust customer satisfaction.
Digitalization, Financial Inclusion, Sustainability
On the digital front, BPI reported 7 million mobile app enrollees and 4.2 million active users in 2024, supported by continued enhancements in its suite of platforms, including BPI App, VYBE by BPI, BPI Trade, BPI Wealth Online, Banko App, BPI BizKo, and BPI BizLink.
BPI also expanded its reach to underserved markets through its microfinance arm, BPI Direct BanKo, and Legazpi Savings Bank (LSB). In 2024, BanKo extended Php 21.7 billion in new loans, reflecting a 45.4% growth year-on-year, while its app saw 500,000 new registered users, underscoring its success in delivering financial services through hyperlocal, tech-enabled solutions. LSB, meanwhile, provided access to essential financial services to public school teachers and personnel.
BPI also facilitated partnerships with prominent retailers, demonstrating the use of technologies to bring banking-type services outside major cities and municipalities. There are now over 20 partners and nearly 6,500 partner doors where one can apply for BPI deposits, loans, and insurance.
In 2024, BPI further strengthened its commitment to sustainability. It raised Php 33.7 billion through Sustainability, Environmental, and Equitable (SEED) Bonds to support projects that drive positive environmental and social impact. It also established a board-approved Exclusion List, which guides the bank’s financial activities and enumerates excluded sectors.
As he concluded his report to shareholders, Limcaoco noted that, beyond the numbers and the milestones, what sets the BPI apart is its people’s shared commitment to purpose and values. By being N.I.C.E.—being Nurturing, acting with Integrity, being Customer Obsessed, and pursuing Excellence, the bank met the challenges and embraced opportunities with unwavering dedication.
“The momentum we have built is strong, and if we stay focused, determined, and continue to do our best, there is no limit to what we can achieve. Let us take on 2025 with enthusiasm and confidence, knowing that our best days are still ahead of us,” Limcaoco said.
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