The Bank of the Philippine Island on its disclosure recently announce a statement that the Net Income of P17,5 billion for the period of time before January to September 2021, for the year the percentage is almost the same ,it was 1.8% .

For the past nine-months the total revenues of BPI have decreased by 6.0%. Net Interest Income was reduced by 5.6% to P51.2 billion, as NIM contracted by 21 bps from 3.51% to 3.31% brought about by a decline put across loan portfolios and treasury assets. However, the Non-Interest Income was also down to 7.0% to P20.5 billion on lower trading income, it was 27.2% increase in fee income due to reflecting the robust comeback across all the business lines.

As of September 30, 2021,

The Total Operating Expenses reached P36.5 billion, up to 3.5% motivated by higher technology cost as the bank keeps continuing to invest in digitalization. Cost to Income Ratio stood at 5.95%

The Bank of the Philippine Island reserved Provisions of P10.3 billion, lower by 49.9% than the P20.5 billion reserved for the same period last year. (NPL) Non-Performing Loan has turn down from 2.98% to 2.73%, Coverage ratio is growing from 100.45% to 130.72.

As well as the Total Loan on September 30, 2021 was P1.4 trillion, a 0.9% have growth by every year, because of the mortgage, credit card, and microfinance loans and others. Then the Total Deposits was rise up 6.6% at P1.8 trillion. In particular CASA grew over 12.1% offsetting the 11.0% reduce from the deposits. The Bank’s CASA Ratio was at 80.1% during the Loan-To Deposit Ratio was also 77.2%

Bank of Philippine Island price closed at 85/share.

Global Ferronickel Holdings Inc. (FNI) said that it is to pursue its original plan of building its Steel Mill after the Hongkong-based partner (Huarong Asia Ltd) backed out. The project consists of $50-million steel mill but decided to take full responsibility on the project by going its own 100% and the construction will start by next year as planned.

According to FNI president Dante Bravo, “The project is still going to push through except that we are going to own it 100 percent. We decided to put all the investments by ourselves instead of partnering with other parties.”

“We believe we have the capacity to do that. Only at this point we are hampered by this pandemic because of the movement of the people but all the plans are there,” he added.

In 2019, FNI reported that Huarong Asia Ltd., their Hongkong-based partner to proceed into steel processing and will acquire 49% of the interest while FNI will received the 51% on their joint partnership. The project estimated annual output of 600,000 tons to build a rebar steel rolling plant in the Philippines and construction was supposed to start this year.

Regarding with the clarification, FNI said that the information stated above was a response to the questions raised during the webinar to FNI President Dante Bravo. On October 21, 2020 the company disclosed that Rebar Steel Rolling Plants commerial operations will began in 2022 with the estimated annual output of 600,000 tons of steel bars but no formalities about the plan has been signed and received by the parties. FNI will make an announcement once the agreements are final, perfected and ready.

Share price of FNI closed at 2.16/share