Photo caption: BPI aims to deliver outstanding customer journeys through its digital client engagement platforms.

Performance Highlights

Outlook and Strategy

The Philippine economy expanded by 5.6% in 2021 after contracting by 9.6% in 2020. Economic activity rebounded amid easing restrictions and improving mobility. The availability of vaccines and treatments contributed to the recovery of consumer confidence as well.

Household consumption rose by 4.2% in 2021 as e-commerce continued to expand. The continuous inflow of remittances and the decline in unemployment rate have also provided a boost in consumer spending. On the other hand, investment spending continues to lag the 2019 level but managed to rebound by 19% in 2021. The private sector has been conservative with its capital expenditures amid the uncertainties of the pandemic and the upcoming elections.

If the growth momentum is sustained, economic output will likely return to pre-pandemic levels by the third quarter of 2022. A full-year growth of 6.5 to 7.5% is expected in 2022.

Inflation was faster in 2021 at 3.9% compared to 2.4% in 2020 (base year 2018) amid supply constraints and improving demand. Average inflation in 2022 is expected to settle near the 4% target of the BSP due to existing and emerging inflationary pressures such as higher oil and electricity prices. Furthermore, global supply chain issues may increase the cost of imported products. As a result, the BSP may need to adjust its policy rate, to avoid the de-anchoring of inflationary expectations as the policy rate has remained below inflation for nearly two years. Aside from this, an adjustment may be needed as a response to the rate hikes of the Federal Reserve. Expectations of tighter dollar liquidity in the coming months might exert pressure on the Peso and the BSP’s dollar reserves if the policy rate is kept at 2.0%.

Meanwhile, government borrowing is another factor that could push interest rates higher in 2022. With government revenues still lagging behind expenditures, the budget deficit will likely remain substantial.

Achieve asset growth in high-margin businesses

Continued focus on SME, consumer, and microfinance lending

Strengthen funding franchise

Grow deposits and improve CASA ratio

Branch optimization

Strategically expand branch network

Increase digital platform active users

Increase active users of online banking platforms for retail and business clients



Strong balance sheet and continued growth and optimization of deposit franchise and loan book

Manufactured and Intellectual

Reliable, secure, and expanding network of delivery infrastructure in both traditional and digital platforms


Energized, enabled, and engaged employees with diverse talents

Social and Relationship

Beacon of stability and credibility upon which trust is built and sustained among our clients and global banking partners


Efficient use of resources through environmental management systems to minimize our impact on the environment

How We Create Value


Building a better Philippines – one family, one community at a time


We are your trusted financial adviser, nurturing your future, and making life easier

Business Operations

  • Corporate Banking
  • Business Banking
  • Consumer Banking
  • Asset Management
  • Microfinance
  • Global Markets Enterprise Services
  • Enterprise Services

BPI Sustainability Strategies

Responsible Banking

  • Financing Sustainable Development
  • Financial Inclusion
  • Supporting Nation Building

Responsible Operations

  • Environmental Sustainability
  • Social Responsibility

Corporate Governance and Risk Management

The Value We Create


2021 Achievements

2021 Financial Performance

2022 Priorities

Achieve asset growth in high-margin business

Delivery of superior shareholder returns in a manner that is transparent and equitable.

SME Loans: ₱59.8 billion

Consumer Loans ₱308.7 billion

Microfinance Loans: ₱5.5 billion

Cumulative loans disbursed: ₱27 billion

Growth to continue in 2022 led by Consumer Loans, notably credit card and personal loans

Strengthen funding franchise

A community of 8.6 million clients that has access to the formal financial system. Distributed ₱1.48 trillion in net customer loans

Financial Inclusion:

₱27 billion microfinance loans disbursed through BanKo to date

58 financial education trainings conducted through BPI Foundation

Financing Sustainable Development ₱600 billion outstanding loans towards industries identified to contribute to the UN Sustainable Development Goals

Supporting Nation Building ₱312 billion loans disbursed to SMEs to date

₱21.5 billion raised through COVID Action Response Bonds issuance

Deposits growth rate: 13.9%

CASA ratio: 77.0%

Growth to continue in 2022, primarily in CASA

Branch optimization

Employees A workplace that fosters learning and development, career advancement, and sustainable engagement.

₱18.4 billion total payments to employees

₱119,224 total training hours provided to employees

New bank branches: None

Branch Co-location: 56

New BanKo branches: 3

Optimization of branch network to continue post-BPI and BFSB merger, and as transactions migrate to digital channels

New BanKo branches: 13

Increase digital platform active users

3.2 million unique active users of BPI Online and Mobile App

Online Mobile Banking: 3.2 million

Bizlink/BizKo: 24,716 corporate clients

Online/Mobile Banking: 24% growth

Bizlink/Bizko Banking: 97% growth


In 2021, BPI realized a net income of ₱23.9 billion, higher by 11.5 percent against 2020. The aggressive provisioning undertaken by the Bank in 2020 allowed for the recognition of significantly lower provisions in 2021 which drove the increase in earnings, in addition to the record fee income.

The Bank’s comprehensive income increased to ₱21.3 billion, largely due to the net income recorded for the year, increases in actuarial gains on retirement plan, and remeasurement of liabilities.


Total revenues declined by 4.2 percent to ₱97.4 billion. Net interest income stood at ₱69.6 billion, lower by 3.7 percent, as NIM contracted by 19 bps driven by lower yields across most loan portfolios and treasury assets. Non-interest income declined by 5.5 percent due to lower trading income but this was tempered by a 23.2 percent boost in fee income.


Operating expenses were higher by 5.4 percent, driven by higher technology cost in line with the Bank’s continued digitalization thrust. Compensation and fringe benefits also posted a 2.9 percent increase; occupancy and equipment-related expenses was up 9.6 percent; and other operating expenses were up 4.2 percent. This brought Cost-to-Income ratio to 52.1 percent compared to 47.2 percent in 2020.

Asset Quality

The bank booked provisions of ₱13.1 billion, 53.1 percent lower compared to last year. NPL ratio was at 2.49 percent, with NPL coverage ratio at 136.1 percent.


Total Assets stood at ₱2.4 trillion, higher by 8.4 percent year-on-year, as total funding increased by 9.7 percent.

Total loans ended at ₱1.48 trillion, a 4.9 percent increase year-on-year, with all segments posting growth.

Treasury securities increased by 20.1 percent.

Total deposits increased by 13.9 percent versus 2020. CASA and time deposit grew 10.3 percent and 28.2 percent, respectively. The bank’s CASA Ratio was 77.0 percent, while the loan-to-deposit ratio was 75.5 percent. Other Borrowings declined by 37.5 percent due to the maturities of Peso and CHF bonds issued by BPI Parent and decline in short-term interbank borrowings.


The bank paid ₱8.1 billion cash dividends or ₱1.80 per share to its shareholders in 2021. All three major international credit rating agencies reaffirmed their investment grade credit ratings for the Bank:

S&P at BBB+, which is the same as the Philippine Sovereign, Moody’s at Baa2, and Fitch at BBB-.