The Bangko Sentral ng Pilipinas (BSP) reported net profits in the first nine months weaker than profits reported in the same period last year.
Data show BSP net income totaling P9.97 billion in the January-to-September period.
This was 29 percent lower than the P13.99 billion net profit reported in the same period last year.
Revenues totaling P45.18 billion far outstripped expenses on the back of strong interest income.
This was, however, 15.7 percent lower than last year’s revenues of P57.12 billion.
The bulk of revenues came from interest income totaling P42.35 billion and another P5.8 billion came from miscellaneous sources.
The BSP also reported fewer expenses, which was down 1.7 percent this year. In the January-to-September period, expenses aggregated only P50.93 billion, of which P28.01 billion were interest expenses.
The BSP also posted gains in foreign-exchange fluctuations totaling P12.79 billion. The BSP reported net gains since last year after six years of persistent losses.