BSP books lower end-October net income as revenues decline

THE BANGKO SENTRAL ng Pilipinas’ (BSP) net income slipped in the 10 months ended October as it posted lower revenues during the period.

The central bank’s net profit dropped by 4.33% year on year to P108.2 billion in the 10-month period from P113.1 billion previously, based on its statement of income and expenses posted on its website.

This was mainly due to the 12.3% decline in its revenues in the period to P231.7 billion from P264.1 billion a year prior.

Broken down, the BSP’s interest income edged up by 1.4% year on year to P203.5 billion in the first 10 months of 2025 from P200.7 billion.

Meanwhile, its miscellaneous earnings, which include fees, penalties, and other operating income, plunged by 55.52% to P28.2 billion from P63.4 billion previously.

On the other hand, the central bank’s expenses went down by 7.9% to P167.8 billion in the  10-month period from P182.3 billion the prior year.

Broken down, its interest expenses declined by 19.93% year on year to P112.1 billion from P140 billion.

Its other expenses, which include net trading losses, climbed by 31.68% to P55.7 billion from P42.3 billion.

These brought the BSP’s net income before foreign exchange (FX) gains or losses, income tax expenses or benefits, and capital reserves to P63.9 billion in the January-October period, down 21.88% from P81.8 billion in the previous year.

Adding to its bottom line was a P44.3-billion net FX gain from its foreign currency-denominated transaction, which was 41.08% bigger than the P31.4 billion recorded a year earlier.

ASSETS, LIABILITIES DOWN
Meanwhile, separate data showed that the central bank’s total assets stood at P7.923 trillion at end-October, down 3.28% year on year from P8.192 trillion.

Bulk of its assets were international reserves, which inched up by 0.18% to P6.437 trillion from P6.425 trillion.

Its holdings of domestic securities went down by 17.96% to P928.2 billion from P1.131 trillion a year prior.

On the other hand, the central bank’s total liabilities decreased by 4.29% to P7.586 trillion as of October 2025 from P7.926 trillion in the comparable year-ago period.

Currency in circulation grew 8.29% to P2.574 trillion from P2.377 trillion, while deposits with the central bank sank by 19.56% to P2.178 trillion from P2.708 trillion.

BSP data also showed that its net worth jumped by 26.6% to P337 billion at end-October from P266.2 billion in the previous year.

This came as its surplus or reserves — made up of its unrestricted retained earnings; funds set aside for various contingencies; unrealized gains or losses from its investments in government securities, stocks and other securities; and its operating income or loss — amounted to P277 billion during the period, up by 34.34% from the P206.2 billion recorded as of October 2024. — Katherine K. Chan