The Lucio Tan (LT) Group’s Philippine National Bank (PNB) reported a 22-percent growth in consolidated net income to ₱12.5 billion for the first half of 2025, on the back of sustained improvements in core revenues consisting of net interest income and net service fees and commissions.

In a disclosure to the Philippine Stock Exchange (PSE), the bank said that for the second quarter of 2025, it posted a net income of ₱6.4 billion, up by 29 percent from the same period in 2024—almost double the year-on-year growth recorded for the first semester of last year.

The bank also filed a separate disclosure to inform the bourse that its PNB board of directors approved and confirmed the issuance of bonds worth ₱3 billion, with option to upsize up to ₱20 billion, in single or dual tranche, out of its ₱50-billion bond and commercial paper program.

In the first half of 2025, net interest income went up by seven percent to ₱25.8 billion as the bank’s core earning assets consisting of loans and investments securities grew by five percent and 11 percent, respectively.

Likewise, net service fees and commission income grew by 24 percent to ₱2.8 billion, mostly from deposit transactions, credit cards, and the bank’s bancassurance business, as it intensifies its cross-selling efforts to its customers.

The performance of the bank’s core businesses was enhanced by its securities trading and foreign exchange (forex) operations, with gains rising by 64 percent to ₱1.4 billion year-on-year.

Operating expenses (opex), excluding provisions for impairment and credit losses, increased by nine percent over the same period last year, as robust revenue growth translated to higher business taxes and other business-related expenses.

As of June 30, 2025, the bank’s total assets stood at ₱1.29 trillion, while deposit liabilities breached the one-trillion-peso mark— consisting mostly of low-cost current account/savings account (CASA)—for the first time, reflecting the strength of PNB’s franchise.

“We are heartened by the bank’s positive financial results for the first half of 2025,” PNB President and Chief Executive Officer (CEO) Edwin Bautista said.

He noted that, “The double-digit growth in profitability is a clear indication that the various strategic initiatives that were put in place are gaining traction.

“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 artificial intelligence (AI), in our businesses as well as forge strategic alliances with partners that will add value to our products and services.”

Recently, PNB has partnered with Japan-based Digital Wallet Corp. (DWC), the team behind Smiles, Japan’s leading mobile remittance platform, as part of its commitment to provide long-term support to overseas Filipino workers (OFWs) and their families.

Bautista said, “The collaboration will combine DWC’s advanced technology and customer-focused service design with PNB’s expansive network and deep understanding of the Filipino market, enabling our kababayans to move money with greater ease right from their mobile phones, backed by the reliability of PNB and the innovation of Smiles.”

Together, the two institutions aim to provide more accessible, affordable, and reliable financial services for Filipinos around the world.