Philippine National Bank (PNB) Q1 2025 earnings summary

Executive summary

• Consolidated net income for Q1 2025 reached P6.1 billion, up 15% year-over-year, driven by higher net interest income, increased fee and non-interest income, and lower credit provisions.

• Total assets grew to P1.28 trillion, a 1.7% increase from December 2024, with notable growth in trading and investment securities.

• Total equity rose to P218.7 billion, reflecting net income gains and higher unrealized gains on financial assets.

Financial highlights

• Gross revenue for Q1 2025 was P21.0 billion, up from P18.8 billion in Q1 2024.

• Net interest income increased by 8.7% year-over-year to P12.7 billion.

• Net service fees and commission income rose 20.4% to P1.4 billion.

• Operating expenses increased 9.9% to P8.1 billion, mainly due to higher compensation, taxes, and occupancy costs.

• Provision for impairment, credit, and other losses dropped 55.3% to P277 million.

• Basic and diluted EPS for Q1 2025 was P3.97, up from P3.45 in Q1 2024.

Outlook and guidance

• Management expects continued growth in net interest income and fee-based revenues, supported by strong asset quality and prudent risk management.