BankCom profit hits all-time high in 2025

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April 2, 2026 | 12:00am

MANILA, Philippines — San Miguel-backed Bank of Commerce (BankCom) sustained its growth momentum in 2025, posting a record net income of P3.54 billion, driven by higher core revenues and stronger trading and foreign exchange gains.

The latest figure is 17 percent higher than the P3.02 billion recorded in 2024 and marks the bank’s third straight year of record performance since its 2022 listing, with profits nearly doubling from P1.8 billion in its initial public offering (IPO) year.

The lender’s bottom line was supported by continued expansion in its core businesses, particularly interest income from loans and investments, alongside gains from market-related activities.

Gross revenues rose by 17 percent to P12.61 billion from P10.76 billion in 2024, while net interest income climbed by 18 percent to P10.78 billion.

Profitability metrics also improved to multi-year highs. Return on equity reached 10.14 percent, the highest in 16 years and above 9.44 percent in 2024, while return on assets increased to 1.28 percent from 1.22 percent previously.

Net interest margin expanded to 4.35 percent, the strongest level since 2009, reflecting faster growth in income from earning assets than interest-bearing liabilities. At the same time, cost discipline helped bring the cost-to-income ratio down to 59 percent from 62 percent a year earlier and 68 percent at the time of its IPO.

The bank’s balance sheet continued to expand, with total assets rising by eight percent to P286.85 billion as of end-2025. Loans and receivables, which accounted for 57 percent of total assets, grew by 19 percent to P162.82 billion, driven by expansion across all lending segments. This pushed the loan-to-deposit ratio to 75 percent.

Asset quality remained sound, with gross non-performing loans at 1.33 percent and net NPL ratio at 0.62 percent.

Investment activity also picked up, with financial assets at fair value through profit or loss surging by 80 percent to P5.17 billion, while those booked under other comprehensive income jumped by 84 percent to P35.02 billion.

Meanwhile, deposits increased by five percent to P223.31 billion, supported by targeted marketing campaigns and promotional initiatives. The bulk of deposits remained in low-cost current and savings accounts totaling P198.49 billion.

The bank also tapped the capital markets, with bonds payable more than doubling to P17.88 billion following a P18-billion dual-tranche issuance in February 2025.

Operating expenses, excluding provisions, rose by 11 percent to P7.42 billion, reflecting continued investments in manpower and technology as the bank scaled its operations.