Bank of the Philippine Islands (BPI.PH) said Wednesday its first-half net profit surged 52% to 9.4 billion pesos ($225 million) from PHP6.2 billion a year earlier, supported by a 24% improvement in revenues.

Net interest income in the January-June period rose 9% and fee-based income gained 51%, the bank said in a statement to the stock exchange.

The lender's loan portfolio totaled PHP480 billion in the first half, a 17% increase from a year earlier.

Net profit for the second quarter rose 8% to PHP3.6 billion from a year earlier.

Write to Cris Larano at cris.larano@dowjones.com and Rhea Sandique-Carlos at rhea.sandique-carlos@dowjones.com

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Bank of the Philippine Islands 1st Half Net Profit up 52% at PHP9.4 Billion