Philippine National Bank (PNB) Q2 2025 earnings summary

Executive summary

• Consolidated net income for the six months ended June 30, 2025 rose 21.6% year-over-year to P12.5 billion, driven by higher net interest income, increased fee-based and non-interest income, and lower credit provisions.

• Total assets reached P1.29 trillion, up 2.8% from December 31, 2024, with growth in loans, investment securities, and investment properties.

• Total equity increased by 4.3% to P225.9 billion, reflecting strong earnings and improved other comprehensive income.

Financial highlights

• Net interest income for the first half of 2025 was P25.8 billion, up 7.2% year-over-year; quarterly net interest income was P13.1 billion, up 5.8%.

• Net service fees and commission income rose 23.9% to P2.8 billion for the semester, with quarterly growth of 27.8%.

• Other operating income increased 34.4% to P3.1 billion for the semester, mainly from asset sales, FX gains, and trading gains.

• Operating expenses rose 9.4% to P15.6 billion for the semester, reflecting higher compensation, taxes, and business volume.

• Provision for impairment, credit, and other losses dropped sharply to P0.3 billion from P2.1 billion year-over-year.

• Earnings per share (basic/diluted) for the semester was P8.16, up from P6.70 year-over-year.

Outlook and guidance

• The bank remains focused on growing its loan portfolio, managing credit quality, and optimizing funding costs.

• The Board approved a new bond issuance of up to P20 billion under its P50 billion program in July 2025.