BSP profit soars to P109.7 B in 9 months

The earnings of the Bangko Sentral ng Pilipinas (BSP) stood at P109.7 billion as of September, nearly five times higher than the P22.3 billion in the same period last year amid higher interest income.

- By KEISHA TA-ASAN

Preliminary data showed the total revenues of the central bank, mostly comprised of interest income on foreign investments, government securities and treasury bonds, surged by 55.7 percent to P244.3 billion in the first nine months from P156.9 billion a year ago.

Interest earnings jumped by 24 percent to P179.1 billion from P144.2 billion, while income from miscellaneous activities rose by five times to P65.2 billion from P12.8 billion a year ago.

The BSP's miscellaneous income includes trading gains or losses, fees, penalties and other operating income, among others.