Philippine National Bank (PNB) Q4 2024 earnings summary

Executive summary

• Consolidated net income rose to P21.2 billion in 2024, up 17.9% from P18.0 billion in 2023, with return on average equity at 10.39% and return on average assets at 1.72%.

• Net interest income increased 10.6% year-over-year to P49.3 billion, driven by higher loan volumes and improved margins.

• Total assets grew 3.9% to P1.26 trillion, with loans and receivables up 3.3% to P636.8 billion.

Financial highlights

• Net interest margin improved to 4.50% from 4.23% in 2023.

• Non-performing loan (NPL) ratio was 5.68% (gross), with net NPL at 1.81%.

• Provision for impairment, credit, and other losses declined to P3.87 billion from P5.92 billion in 2023.

• Basic/diluted EPS increased to P13.80 from P11.78.

• Total equity attributable to equity holders rose to P212.8 billion.

Outlook and guidance

• Management expects continued growth in core lending and fee-based businesses, with focus on digital expansion and asset quality.

• Capital and liquidity positions remain robust, supporting future business expansion.