Manila's Bank of PI Q3 net profit rises 35 pct

MANILA, Oct 30 (Reuters) - Bank of the Philippine Islands (BPI.PS), the country's third-largest lender by assets, said third-quarter net income rose 35 percent despite losses related to recent typhoons and higher expenses.

BPI, owned by Philippine conglomerate Ayala Corp (AC.PS) and Southeast Asia's biggest bank DBS (DBSM.SI), said in a statement on Friday its net income reached 2.1 billion pesos ($44 million) in the third quarter.

Its net interest income climbed 6 percent in the quarter, while non-interest income, mainly trading gains, jumped 19 percent.

The bank said it incurred an impairment loss of 100 million pesos for typhoon-related accounts. Typhoon Ketsana dumped heavy rains that submerged 80 percent of the capital and nearby areas in late September.

BPI shares climbed 3.3 percent on Friday, outperforming Manila's main stock index .PSI, which gained 1.6 percent. ($1 = 47.6 pesos) (Reporting by Rosemarie Francisco; Editing by Anshuman Daga)