BPI Shines Bright: Celebrating a Record Year and Steady Growth Into 2025
The Ayala-led Bank of the Philippine Islands (BPI) continues to set new benchmarks for success, recently presenting its stockholders with an impressive account of its strong performance throughout 2024 and a promising start to 2025.
In the first quarter of 2025, BPI reported an outstanding net income of ₱16.6 billion—a 9% increase from the ₱15.3 billion achieved during the same period last year and an 18.3% growth compared to the sequential quarter. Higher revenues largely drove this performance, offsetting increased operating expenses and provisions for losses. These results translate into a return on equity of 15.35% and return on assets of 2.05%, reinforcing the bank’s robust standing in the financial sector.
The annual stockholders meeting held last April 21st marked a celebration of the institution’s remarkable journey through 2024, which was hailed as a transformative year for BPI. The bank achieved unprecedented milestones in financial performance, customer growth, and sustainability. With revenues soaring by 23% to ₱170.14 billion and a full-year net income reaching a record-breaking ₱62 billion—a 20% year-on-year growth—BPI solidified its position as one of the Philippines’ 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, but we also made significant progress on the key priorities outlined in our strategy,” shared BPI President and CEO Jose Teodoro “TG” Limcaoco.
Driving this remarkable growth is BPI’s steadfast commitment to innovation, financial inclusion, and an enhanced digital presence nationwide. The bank welcomed over five million new clients in 2024, doubling its client base to an impressive 16 million compared to 2021. This growth underscores the trust and confidence placed in BPI’s services and highlights the reach and scope of its digital platforms.
“Our clients remain at the heart of everything that we do,” emphasized BPI Chairman Jaime Augusto Zobel de Ayala. “The enormous increase in our client base reflects not only the continued trust of our customers but also our ability to create accessible financial solutions.”
Another notable achievement was BPI’s sustained leadership in customer satisfaction, as evidenced by its top ranking in Net Promoter Score among full-scale banks in the Philippines for the second year in a row.
During the annual stockholders meeting, the stockholders elected the 15-man board of directors, to wit:
Jaime Augusto Zobel de Ayala, Cezar P. Consing, Jose Teodoro K. Limcaoco, René dG. Bañez, Rizalina G. Mantaring, Cesar C. Purisima, Fernando Zobel de Ayala, Mario Antonio V. Paner, Restituto C. Cruz, Janet Guat Har Ang, Karl Kendrick T. Chua, Emmanuel de Dios, Jaime Z. Urquijo, Mariana Beatriz E. Zobel de Ayala and Wilfred T. Co. Restituto C. Cruz, a retired Deputy Governor of the Bangko Sentral ng Pilipinas replaced Ma. Dolores Yuvienco, who ended her 9-year term as independent director. Mariana Beatriz E. Zobel de Ayala stepped into the shoes of Aurelio R. Montinola III who wound down his decades-long engagement with BPI as Director and former President/CEO.
In the organizational meeting held immediately after the stockholders meeting, the following were elected as officers:
Jaime Augusto Zobel de Ayala, Chairman; Cezar P. Consing, Vice Chairman; Jose Teodoro K. Limcaoco, President/CEO; Dino R. Gazmen, Treasurer; Ma. Lourdes P. Gatmaytan, Corporate Secretary; Shiena Angela D. Aquino and Alice G. Realuyo, Assistant Corporate Secretary.
As BPI advances into 2025, it remains committed to driving sustainable financial growth while delivering exceptional value and accessibility to its ever-growing customer base. Truly, the bank’s journey embodies a story of resilience, transformation, and unwavering trust from stakeholders.
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