BPI profit up 8% on non-interest gains

Xinhua Financial News Service
Last updated 10:39am (Mla time) 01/30/2007

MANILA, Philippines -- Bank of the Philippine Islands posted eight percent growth in earnings last year, driven mainly by higher non-interest income, particularly from securities and foreign exchange trading, fees and charges.

Consolidated net profit last year came in at P9 billion compared to P8.4 billion in the previous year, the country's second largest lender in terms of assets said.

BPI did not provide quarterly results.

"The improvement in net income came mainly from the nine percent growth in total revenues," BPI said in a statement.