BSP profit more than doubles to P170.2 billion

The Bangko Sentral ng Pilipinas (BSP) experienced a significant increase in net income, more than doubling to P170.2 billion in the first seven months of 2026. This substantial growth, a 114.9 percent rise from P79.2 billion during the same period in 2025, marked the bank's earnings as 36.6 percent higher than its entire 2025 profit of P124.6 billion.

The primary driver of this surge was a sharp increase in foreign exchange gains, which almost tripled to P102 billion from P37 billion in the previous year. These gains, resulting from fluctuations in foreign currency exchange rates, accounted for 60 percent of the central bank's net income in this period.

In addition to this, the bank's total expenses declined by 18.8 percent, dropping from P121.5 billion to P98.6 billion. A significant factor in this reduction was the 42.4 percent decrease in interest costs, which fell from P81.6 billion to P47 billion. This decline in interest expenses more than compensated for a 29.3 percent increase in other expenses, which rose from P39.9 billion to P51.6 billion.

Despite a 1.9 percent rise in overall revenues, reaching P166.8 billion from P163.8 billion, the bank's income before foreign exchange gains, taxes, and capital reserves increased by 61.2 percent to P68.2 billion from P42.3 billion. This growth was primarily fueled by a 6.1 percent increase in interest income, which climbed from P142 billion to P150.7 billion.

However, miscellaneous income, including trading gains, fees, penalties, and other operating income, decreased by 25.8 percent, partly offsetting the rise in interest earnings.