BSP net income rises to P130 billion

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April 19, 2026 | 12:00am

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) saw its net income climb by 10.3 percent to P130.1 billion in 2025 from P118 billion in 2024, driven largely by foreign exchange gains and lower expenses.

Preliminary data from the central bank’s statement of income and expense showed that revenues slipped by 9.3 percent year on year to P272.5 billion from P300.4 billion.

The decline in revenues came despite a slight increase in interest income, which rose to P243.8 billion in 2025 from P240.8 billion a year earlier. Miscellaneous income, however, dropped sharply by 51.7 percent to P28.8 billion from P59.6 billion, pulling down overall earnings.

On the cost side, the BSP continued to benefit from easing expenses. Total expenses fell by 11.1 percent to P201.4 billion from P226.6 billion.

This was mainly due to lower interest expenses, which declined to P129 billion from P167.2 billion, reflecting the impact of monetary policy adjustments and funding costs. Other expenses, however, increased to P72.4 billion from P59.4 billion.

Before accounting for foreign exchange movements and other adjustments, the BSP’s net income stood at P71.1 billion in 2025, slightly lower than P73.8 billion in 2024.

A key driver of the central bank’s bottom line remained gains from currency movements. Net gains on forex rate fluctuations stood at P59 billion, 33.8 percent higher than P44.1 billion.

The BSP defines these as realized gains or losses arising from fluctuations in forex rates tied to its foreign currency-denominated transactions.

With minimal income tax impact and no capital reserve allocations, the central bank’s net income after tax and capital reserves settled at P130.1 billion in 2025, marking its highest earnings on record.

The BSP’s balance sheet also continued to expand, with total assets rising to P8 trillion in 2025, up by 2.4 percent from P7.81 trillion in 2024, reflecting steady growth.

International reserves remained the largest component, climbing to P6.47 trillion from P6.11 trillion a year earlier, underscoring the central bank’s continued accumulation of foreign assets.

The central bank’s net worth rose sharply to P360.5 billion in 2025 from P223 billion in 2024, driven mainly by a surge in surplus and reserves.