PNB reports 22% profit growth in first half

Philippine National Bank (PNB) booked a consolidated net income of P12.5 billion in the first half of 2025, up by 22 percent from a year ago, driven by steady growth in core revenues and higher trading gains, a report by Philippine Star.

In the second quarter alone, the Lucio Tan-led bank posted P6.4 billion in net earnings, marking a 29 percent year-on-year increase.

The bank’s net interest income rose by seven percent to P25.8 billion as loan and investment portfolios expanded by five percent and 10 percent, respectively.

Net service fees and commission income also improved by eight percent to P2.8 billion, supported by higher volumes in deposit transactions, credit card usage and bancassurance.

Gains from trading and foreign exchange operations surged by 64 percent to P1.4 billion, helping lift the bank’s bottom line further.

Operating expenses, excluding provisions, rose by nine percent as higher business activity led to increased taxes and other related costs.

PNB’s total assets stood at P1.29 trillion as of end-June.

For the first time, its deposit base breached the P1-trillion mark, with low-cost current account and savings account (CASA) deposits making up the bulk, underscoring the bank’s solid retail presence.

PNB president and CEO Edwin Bautista attributed the strong performance to the traction gained from the bank’s strategic initiatives.

“We are excited to unlock new revenue streams to boost our net income as we continue to explore the use of technology, including data science and AI, in our businesses, as well as forge strategic alliances with partners that will add value to our products and services,” Bautista said.

Among recent initiatives is a partnership with Japan’s Digital Wallet Corp., operator of the Smiles mobile remittance app, which aims to offer more accessible and efficient remittance services to overseas Filipinos and their families.

PNB also enhanced the security of its remittance platforms. PNB RCI WebRemit now features e-KYC onboarding with advanced ID verification and facial matching, while the PNB Singapore Mobile App has been integrated with the bank’s enterprise fraud management system to detect and prevent suspicious activity.