MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) expects higher earnings this year despite the pains caused by its ongoing digital transformation, according to its president and chief executive officer. In a press conference Cezar Consing said the bank sees faster growth in net income this year as the 168-year old bank pursues its digital journey. The bank’s revenue increased by 23.5 percent to P22.78 billion, driven by the 28.8 percent year-on-year growth in net interest income to P16.05 billion. Consing said the hardest part of the digitalization journey has been completed and future upgrades would be much more seamless. She said the digitalization journey would translate to lower costs and better efficiency.

Source: Philippine Star April 25, 2019 16:01 UTC