THE BANGKO SENTRAL ng Pilipinas’ (BSP) net income dropped by 16.8% at end-July amid lower revenues, preliminary data showed.
The central bank’s net profit fell to P79.2 billion in the first seven months of 2025 from P95.2 billion in the same period last year, its statement of income and expenses posted on its website showed.
This came as its revenues declined by 14.1% year on year to P163.8 billion from P190.6 billion previously.
Broken down, the BSP’s interest income, which made up most of its revenues, inched up by 1.1% to P142 billion in the seven-month period from P140.4 billion last year.
Its miscellaneous earnings, which are made up of fees, penalties and other operating income, plunged by 56.8% to P21.7 billion from P50.2 billion.
Meanwhile, the central bank’s expenses went down by 3.4% to P121.5 billion in the seven months ended July from P125.7 billion a year earlier.
Its interest expenses dropped by 10.7% year on year to P81.6 billion from P98.4 billion.
Other expenses, which include net trading losses, jumped by 45.6% to P39.9 billion from P27.4 billion.
These brought the BSP’s net income before net foreign exchange (FX) gains or losses, tax, and capital reserves to P42.3 billion in the January-July period, declining by 34.8% year on year from P64.9 billion previously.
Its bottomline received a boost from a P37-billion net gain from fluctuations in FX rates as a result of its foreign currency-denominated transactions, which was 21.7% higher than the P30.4 billion recorded in the same period the prior year.
ASSETSMeanwhile, separate data showed that the BSP’s total assets stood at P7.812 trillion at end-July, 1.8% lower than P7.955 trillion in the comparable year-ago period.
International reserves, which accounted for the bulk of its assets, slipped by 1.8% to P6.091 trillion from P6.201 trillion.
Its holdings of domestic securities likewise dropped by 5.6% to P1.103 trillion from P1.169 trillion.
On the other hand, the central bank’s liabilities went down by 2.7% year on year to P7.515 trillion as of July from P7.724 trillion a year prior.
Currency in circulation amounted to P2.5 trillion, while deposits with the central bank stood at P2.379 trillion.
Meanwhile, the BSP’s net worth climbed by 28.6% to P296.9 billion as of July from P230.9 billion last year.
This came as its surplus or reserves grew by 38.6% to P236.9 billion from P170.9 billion in 2024. These include the BSP’s unrestricted retained earnings; funds set aside for various contingencies; unrealized gains or losses from its investments in government securities, stocks and other securities; as well as its operating income or loss. — Katherine K. Chan
