Bank of the Philippine Islands (BPHLF) Q3 2026 Earnings Report
BPHLF Q3 2026 EPS Results
- Actual EPS
- $0.05
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.06
BPHLF Q3 2026 Revenue Results
- Actual Revenue
- $481.56M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- -58.89%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/22/2026
- Time
- Before Open
- Conference Call
- Thursday, October 22, 2026
BPHLF Upcoming Earnings
Bank of the Philippine Islands's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly constructive, with strong revenue momentum, double-digit loan and deposit growth, solid capitalization, improving quarterly provisions and substantial digital, agency-banking and strategic growth initiatives. However, management acknowledged meaningful pressure from a weak macroeconomic environment, higher provisions, rising NPLs concentrated in SME and microfinance, NIM compression, elevated funding costs and slower growth in selected segments. The positive operating performance and strategic progress significantly outweighed the disclosed challenges.
Company Guidance
Management expects credit costs “at around the 100 basis point area,” loan growth “roughly at around the 10% area,” and asset growth “something along the lines of about that,” while remaining flexible to evolving market conditions; NIMs should receive support from further rate rises, with policy-rate impacts calculated after 1 year, and management’s outlook is that rates begin to turn in the second half next year. SME is expected to exit this year with growth of “probably low 20s year-on-year,” while funding is being kept short, including a 1.75-year SIBOL Bonds tenor.
- Robust Nine-Month Revenue and Operating ProfitRevenue reached PHP 156.3 billion, up 9.8% year-on-year, while pre-provision operating profit reached a record PHP 82.6 billion, up 7.5%. Net interest income increased 11% to PHP 121.1 billion, supported by robust loan growth and resilient NIMs.
- Strong Third-Quarter Net Income RecoveryThird-quarter net income was PHP 16.1 billion, up 1% from the previous quarter. Third-quarter provisions declined to PHP 6.5 billion, down 16.5% quarter-on-quarter, while credit cost improved to 96 basis points, down 24 basis points from the prior quarter.
- Broad-Based Loan and Deposit GrowthGross loans reached PHP 2.75 trillion, up 2.9% quarter-on-quarter and 13.6% year-on-year, with expansion across all segments. Deposits increased to PHP 2.97 trillion, up 4.3% quarter-on-quarter and 11% year-on-year, with a CASA ratio of 57.8%.
- Strong Balance Sheet and Capital PositionTotal assets reached PHP 3.85 trillion, up 3.2% quarter-on-quarter and 10.8% year-on-year. The indicative CET1 ratio was 13.9%, CAR was 14.7%, and CET1 capital was PHP 411 billion, up 0.8% from the prior quarter and 1.9% from the prior year.
- Fee Income Growth Driven by Core BusinessesNine-month fee income rose 15.5% year-on-year, driven by higher transaction volumes, an expanded customer base and increased deal activity. Cards grew 15.6%, wealth management fees increased 13.4%, and insurance revenues grew 13.6%.
- Expansion of Wealth Management FranchiseAssets under management increased to PHP 2.16 trillion, up 19% year-on-year. Management said the wealth franchise is now clearly the market leader and highlighted plans and activity involving new Singapore and Hong Kong offices, new products and increased focus on corporate pensions, payroll and PERA offerings.
- Customer Base and Digital Productivity ExpansionThe customer base expanded to 19.8 million, more than doubling since 2022. Transaction volume has grown nearly threefold since 2020, with 95.6% of transactions conducted through digital and electronic platforms and 4.4% over the counter.
- Improved Branch Productivity and Operating LeverageBranch personnel spent 46% of their time on sales and advisory activities, compared with 30% in 2021. Branch-generated fees from cross-selling loans, insurance and investment products are tracking toward a five-year CAGR of 21%. The nine-month cost-to-income ratio was 47.1%.
- Digital Account Opening AccelerationThe National ID eVerify feature on the BPI app increased digital account opening by 32% during the two months after its launch from July to August. National ID applications increased from 47% to 83% of total digital applications.
- Teachers' Loan Business MomentumTeachers' loan releases reached PHP 20.9 billion in the first nine months of 2026, up 87.4% year-on-year. Borrower count increased to 65,000, up 54.3%, while outstanding balances rose to PHP 23.6 billion, up 72.3%. Market share expanded to 10.8%, an increase of 6 percentage points since the business was acquired.
- BanKo and Legazpi Savings Bank MergerThe merger between BPI Direct BanKo and Legazpi Savings Bank took effect on October 1, with BanKo as the surviving entity. Management said the merger enhances reach in the teachers' loan segment through BPI and BanKo's branch networks and digital capabilities.
- Agency Banking GrowthBPI's agency banking network reached 34 brands and more than 7,000 partner stores, including over 1,400 accepting cash-in and cash-out transactions. Cash-in and cash-out transactions grew 433% year-on-year to 259,000 in the third quarter, while products sold reached 377,000, up 122%.
- Agency Network Increasing Branch-equivalent CapacityAgency banking transaction volumes during the quarter were equivalent to the activity of approximately 76 traditional branches. Management said deposit-withdrawal partner stores were equivalent to 79 branches as of September and expected the figure to be closer to 90 branches in October.
- Higher-Yielding Non-Institutional Loan StrategyNon-institutional loans increased to PHP 885 billion, up 18.9% year-on-year, and continued to shift the loan mix toward higher-yielding segments. Non-institutional loans generated a third-quarter risk-adjusted NIM of 8.7%, compared with around 5.9% for institutional loans.
- Growth Across Consumer Loan ProductsMortgage loans increased 10.8% to PHP 322 billion, credit card loans increased 27.2% to PHP 277 billion, personal loans increased 21.7% to PHP 53 billion, auto loans increased 12% to PHP 142 billion, and microfinance loans increased 11.5% to PHP 18 billion. Teachers' loans grew 67.9% year-on-year, motorcycle loans grew 19.1%, and SME loans grew 46.7% to PHP 74 billion.
- Selective Consumer Growth and EV FinancingManagement identified continued consumer growth opportunities while emphasizing selective onboarding and a focus on depositor customers. EV financing represented 30% of auto-loan releases and reached 35% in the most recent month, while management said auto-loan NPLs remained lower.
- Risk and Collection InitiativesBPI tightened underwriting parameters for personal and microfinance loans, expanded collection efforts, added collectors, enhanced predelinquency reminders and loan repackaging, and adjusted scoring. SME NPL formation moderated from 16% to 13.2% following credit-parameter adjustments and strengthened collection strategies.
- Reserve Coverage and Credit Cost ImprovementYear-to-date credit cost was 101 basis points. NPL coverage was stated at 89.6%, increasing to 113% including surplus general loan-loss provisions and to 164% including collateral. Including general loan-loss provisions, ECL coverage was 127%.
- Technology, AI and Infrastructure InitiativesBPI continued investing in technology, digital channels, AI and process transformation. Copilot had been rolled out to most employees, branch-level policy and product tools were in use, and an AI auto-agent pilot reduced an application process from one or two days to 27 minutes. Management also said a new managed-services contract should save about 40%, while a second-largest vendor agreed to cut charges 30% on manpower and API libraries.
- Sustainability, Inclusion and Corporate RecognitionBPI became the first Philippine bank to achieve dual ISO certification for information security and privacy information management, joined PCAF, supported solar and battery-storage financing, expanded banking access in Sultan Kudarat, and launched student-loan and educator initiatives. It also received employer, sustainability and governance recognitions, including the Five-Arrow Award for corporate governance.
- Leadership Transition PlanManagement announced that Ginbee Go will assume leadership of BPI in April following a six-month transition period with TG Limcaoco. Limcaoco said the bank had accomplished its prior strategic objectives by the end of 2025, including digitalization, revamped branches, a consumer book exceeding 30% of the loan book and leadership in sustainability.
- Forward Guidance for Growth and Credit CostsManagement expects credit costs at around the 100 basis point area, loan growth roughly at around the 10% area and asset growth along similar lines, while noting that conditions remain volatile and the bank must remain flexible.
- Institutional Banking GrowthInstitutional loans increased by PHP 1.86 trillion, up 11.3% year-on-year. Growth came across opportunities including energy, renewables, construction and real estate outside Metro Manila, with management noting strength in the corporate sector.
- Hedged Foreign-Currency Funding OpportunityManagement said borrowing in U.S. dollars and swapping into pesos remained economically attractive for funding the peso book, citing broad 10-year rates near 5% in the U.S. and 8.2% locally, with an interest-rate differential of roughly 1%. Treasury said such funding is hedged until close and is not an open position.
BPHLF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | ―- | 0.05 | ― | ― |
| Oct 22, 2026 | 2026 (Q3) | ―0.05 | 0.06 | -15.52% (-0.01) | |
| Jul 15, 2026 | 2026 (Q2) | ―0.05 | 0.06 | -10.91% (-0.01) | |
| Apr 20, 2026 | 2026 (Q1) | ―0.05 | 0.05 | 0.00% (+0.00) | |
| Feb 02, 2026 | 2025 (Q4) | ―0.05 | 0.05 | 13.04% (+0.01) | |
| Oct 15, 2025 | 2025 (Q3) | ―0.06 | 0.06 | 0.00% (+0.00) | |
| Jul 16, 2025 | 2025 (Q2) | ―0.06 | 0.05 | 10.00% (+0.01) | |
| Apr 21, 2025 | 2025 (Q1) | ―0.05 | 0.05 | 3.85% (+0.00) | |
| Feb 03, 2025 | 2024 (Q4) | ―0.05 | 0.05 | -2.13% (-0.00) | |
| Oct 17, 2024 | 2024 (Q3) | ―0.06 | 0.05 | 18.37% (+0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
