BPI sees PH economy growing at 5% level
Bank of the Philippine Islands (BPI) remains bullish about its 2026 performance as its top executive sees the domestic economy bouncing back to a 5-percent growth level.
Despite the absence of elections boosting consumer spending, and with the series of typhoons taming demand, BPI president and chief executive officer TG Limcaoco still believes the slower third-quarter economic data was just a “one-off.”
“It might spill a little to Q4 (fourth quarter) as the sentiment continues …, as the government tries to understand its spending,” Limcaoco said.
“But I think as we roll into next year, we should hopefully get back to a 5-percent handle,” he told reporters on the sidelines of a company event on Tuesday.
Asked about what it would mean for the Ayala-led bank, Limcaoco said it “should bode well for us.”
“Our big thrust really is about expanding into the consumer base. So as long as that consumer remains resilient and confident, that’s good for us,” he added.
In the first nine months, BPI’s earnings rose 5.2 percent to P50.5 billion. This, as its revenues climbed 13.2 percent to P142.3 billion.
Net interest income also improved by 16.2 percent to P109.1 billion.
Gross loans reached P2.4 trillion, 13 percent higher than last year.
The Bangko Sentral ng Pilipinas is expected to continue reducing its policy rate to prop up the economy.
