BSP’s 10-month bottom line slipped 4%

The Bangko Sentral ng Pilipinas (BSP) saw its profits decline in the first 10 months of 2025, as a drop in revenues outpaced a reduction in expenses.

Data showed the central bank netted P108.2 billion from January to October, down 4 percent from the same period a year earlier.

Revenues fell 12.3 percent to P231.7 billion, despite a 1.4 percent rise in interest income to P203.5 billion.

The drag on the BSP’s top line came largely from weaker miscellaneous income — which includes trading gains, fees, penalties and other operating income — as this segment slumped 56 percent to P28.2 billion.

The lower revenues, in turn, offset savings on the cost side. Total expenses edged down 7.9 percent to P167.8 billion, with interest expenses falling 20 percent to P112.1 billion.

That decline helped absorb a nearly 32 percent jump in other expenses to P55.7 billion, including net trading losses.

Meanwhile, net gains from currency fluctuations on the BSP’s foreign currency-denominated transactions rose 41 percent to P44.3 billion.

The BSP’s total assets during the 10-month period edged down by 3.3 percent to P7.9 trillion, while total liabilities slipped 4.3 percent to P7.6 trillion.

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This translated to a net worth of P337 billion, up 27 percent from a year ago.

In 2024, the BSP saw its net income surge to a record high of P118 billion on the back of fatter interest income.

In 2024, the BSP posted a record net income of P118 billion, buoyed by stronger interest income.

Whether the central bank can beat that performance in 2025 remains uncertain. Analysts said that achieving another record year may be difficult as the BSP presses ahead with its easing cycle.