BSP profit jumps as expenses fall
The Bangko Sentral ng Pilipinas (BSP) more than doubled its profit in the first two months of 2026, helped by a drop in expenses that more than offset weaker revenue.
The central bank recorded net earnings of P53.8 billion in the January-to-February period, up from P23.5 billion a year earlier, according to data posted on its website.
Total revenue fell nearly 13 percent to P33.5 billion. Interest income, which made up most of the central bank’s revenue, declined 16 percent to P31.5 billion.
Miscellaneous income—which includes trading gains and losses, fees, penalties and other operating income—rose to P2 billion from P900 million a year earlier.
At the same time, total expenses fell 32.7 percent to P24.9 billion. Interest expenses plunged nearly 39 percent to P14.2 billion. Other expenses declined nearly 22 percent to P10.7 billion.
The BSP also booked a net gain of P45.2 billion from fluctuations in foreign exchange rates on its foreign currency-denominated transactions, more than double the amount recorded a year earlier.
Despite the stronger profit, the BSP’s total assets edged down 2 percent from a year earlier to P7.9 trillion.
International reserves, which accounted for most of the central bank’s assets, rose nearly 5 percent to P6.5 trillion. The increase was partly offset by declines in domestic securities, loans and advances, and other assets.
Total liabilities, meanwhile, edged down 3.8 percent to P7.5 trillion. This translated to a net worth of P361.3 billion, up 43 percent from a year earlier.
