The Bangko Sentral ng Pilipinas (BSP) reported a net income of ₱113.6 billion from January to November 2024, a surge of over ₱90 billion compared to the same period in 2023. 

The end-November figure is also a nearly 400 percent increase (387.55 percent) from 2023's net income of ₱23.3 billion.

According to the BSP’s latest statement of income and expense, total earnings for the first 11 months of 2024 reached ₱278.3 billion, an increase of ₱83.5 billion, or nearly 43 percent, from 2023's ₱194.8 billion.

Interest income, at ₱221.2 billion, accounted for nearly 80 percent of these revenues, with the remaining 20 percent, or ₱57.1 billion, attributed to miscellaneous income. 

Interest income increased by 22.48 percent (from ₱180.6 billion), while miscellaneous income saw a more than threefold increase (from ₱14.2 billion).

Total expenditures reached ₱203.1 billion, representing 72.98 percent of revenues. This is a decrease of 18.43 percent from the ₱227 billion in expenses in 2023.

Interest expenses accounted for 76 percent (₱154.3 billion) of total expenditures, while other expenses accounted for the remaining 24 percent (₱48.9 billion). 

Interest expenses increased slightly by ₱600 million (0.39 percent). In contrast, other expenses decreased significantly (33.29 percent), falling from ₱73.3 billion in 2023 to ₱48.9 billion in 2024.

The BSP also earned ₱38.6 billion from foreign exchange fluctuations, a decrease of ₱16.9 billion from the P55.5 billion in gains recorded in 2023.

As of end-November, the BSP’s total assets reached ₱8.053 trillion, a 7.5 percent increase from the previous year’s ₱7.489 trillion. International reserves accounted for nearly 80 percent (₱6.318 trillion) of these assets. Domestic securities comprised ₱1.129 trillion, or 14.02 percent, of the total, with loans and advances and other assets making up the remainder.

Total liabilities increased by 5.8 percent, rising from ₱7.361 trillion in 2023 to ₱7.790 trillion in 2024. Currency in circulation and deposits collectively accounted for ₱5.022 trillion, or 64.47 percent of total liabilities.

As of end-November, the BSP’s net worth surged to ₱262.8 billion, more than double its 2023 net worth of ₱128.4 billion. This is primarily due to a near-200 percent increase in surplus or reserves, from ₱68.4 billion in 2023 to ₱202.8 billion. Capital remained at ₱60 billion.