The bank set aside ₱13.3 billion to cover loans it expects may not be repaid, citing a weaker macroeconomic outlook.
The Bank of the Philippine Islands (BPI) has nearly doubled its provisions for possible loan losses amid volatile economic conditions, setting aside more funds to cover loans that it expects may not be repaid.
BPI said it booked ₱13.3 billion in provisions for expected credit losses in the first half of 2026, marking an 84% increase from the same period last year.
The bank said expected credit losses increased amid “deteriorating macroeconomic conditions and outlook.” Nonperforming loans remained unchanged, with a ratio of 2.42% quarter-on-quarter.
Along with the higher provisions, the bank reported a slight decline in net income to ₱32.8 billion for the first semester, down 0.4% from last year’s ₱33.0 billion.
Despite higher total revenues of ₱104.0 billion, up 12.4%, growing costs and higher expected credit losses weighed on profits.
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