The Bank of the Philippine Islands reported on Thursday that its net earnings increased by 82.9 percent to P12.5 billion in the second quarter.

According to a stock exchange filing, the bank’s second-quarter results increased first-half net income by 73% due to higher costs and lower requirements.

“This result is inclusive of a net gain on the sale of property and tax adjustments due to the CREATE Law,” according to the comment.

Its requirement for risky debts in first half was P5 billion, a 23.1 percent decrease from P6.5 billion in the same period last year.

According to the report, the non-performing loan ratio enhanced to 1.99 percent, while the NPL coverage ratio was 170.7 percent.

According to BPI, total loans reached P1.6 trillion as of June 30, up 14.4 percent from a year earlier year.

Total deposits, meanwhile, enhanced 18.3 percent to P2 trillion.