THE BANGKO SENTRAL ng Pilipinas’ (BSP) net income soared to a record high as of July, backed by strong gains from foreign exchange (forex) swings and lower expenses, preliminary data showed.
The central bank booked a net profit of P170.2 billion in the seven-month period, more than double (114.9%) the P79.2 billion logged a year earlier.
This was the BSP’s highest net income so far, based on data posted on its website.
Its revenues went up by 1.9% year on year to P166.8 billion in the seven months to July from P163.8 billion.
Interest income accounted for the bulk of revenues, climbing by 6.13% year on year to P150.7 billion from P142 billion.
However, its miscellaneous earnings, which includes fees, penalties and other operating income, declined by 25.81% to P16.1 billion in the period from P21.7 billion a year ago.
On the other hand, the central bank’s expenses fell by 18.8% to P98.6 billion in the seven months to July from P121.5 billion in the prior year.
Broken down, its interest expenses amounted to P47 billion, down 42.4% year on year from P81.6 billion.
Its other expenses, which include net trading losses, rose by 29.32% to P51.6 billion from P39.9 billion.
As a result, the BSP’s net income before net FX gains or losses, income tax expenses or benefits, and capital reserves ended at P68.2 billion in the period, 61.23% higher than the P42.3 billion seen in January-July 2025.
Meanwhile, the central bank’s bottomline was boosted by a P102-billion net gain from fluctuations in FX rates arising from its foreign currency-denominated transactions. This was 175.68% higher than the P37 billion logged in the same period a year earlier.
The peso averaged at P61.432 versus the US dollar as of end-July, down by P4.126 year on year from P57.306, according to BSP data.
ASSETS, LIABILITIES
Meanwhile, the BSP also reported that its assets stood at P7.877 trillion as of July, inching up 0.8% year on year from P7.812 billion.
This was driven mainly by the 3.29% growth in its international reserves to P6.292 trillion from P6.091 trillion.
Its holdings of domestic securities went down by 13.65% to P952.1 billion from P1.103 trillion a year prior.
Loans and advances ballooned by 57.66% to P131.8 billion from P83.6 billion in the same period last year.
Meanwhile, its other assets slipped by 6.6% to P479.7 billion from P513.6 billion in the previous year.
On the other hand, the central bank’s total liabilities decreased by 1% to P7.436 trillion as of July from P7.515 trillion in the comparable year-ago period.
Reserve money, which includes currency in circulation and reserve deposits of other depository and financial corporations, among others, jumped by 14.26% to P3.607 trillion from P3.157 trillion.
However, other deposits not included in its reserve money fell by 21.1% to P1.359 trillion from P1.722 trillion.
BSP data likewise showed that its net worth reached P440.7 billion as of July, 48.43% higher than the P296.9 billion a year ago.
This came as its surplus or reserves soared by 60.7% to P380.7 billion during the period from P236.9 billion as of July last year.
Its capital was unchanged year on year at P60 billion.
The BSP’s surplus account reflects its unrestricted retained earnings, while its capital reserves are funds set aside for various contingencies. — Katherine K. Chan