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Monday, April 14, 2014

BPI to focus on growing its loan portfolio

The Bank of the Philippine Islands (BPI) will focus on growing its loan portfolio despite the expected increase in interest rates, a bank official said Sunday.

"The overall strategy is to increase our loan book," said BPI global market strategist Antonio Paner.

“The remaining funds available for investments would be placed in relatively shorter tenors as we expect interest rates to eventually rise," he said.

Paner said BPI has allocated a sizeable amount to invest in short-term vehicles.

"As our loan-to-deposit ratio increases, the amount of funds available for investment contracts," he said.

BPI's earnings reached a record P18.8 billion at end-2013 on the back of better deposit levels and lending transactions, with an 18.1-percent return on equity and a 1.9-percent return on assets.

Source: GMA News

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