BPI net income doubled to P5.8 billion in Q1 2012
TUESDAY, 01 MAY 2012 19:03 JUN VALLECERA / REPORTER
A BUOYANT local stock market and prospects of still lower interest rates down the line pushed the Bank of the Philippine Islands to unload some of its securities holdings in the first three months and more than doubled its bottom line to P5.8 billion.
Year-ago net income was only P2.8 billion.
Even if one assumes a lower full year growth of just 15% (as against 100% suggested by 1st QTR results), today's big drop in BPI share price is so tempting. Is it worth violating most people's advice to keep away from the market?