BSP profit soars to P85.5 B in H1

The Bangko Sentral ng Pilipinas (BSP) more than tripled its earnings to P85.5 billion in the first half, from P19.86 billion in the same period last year, mainly driven by higher revenues and lower spending.

- By KEISHA TA-ASAN

Preliminary data showed the total revenue of the central bank, mostly comprised of interest income on foreign investments, government securities and Treasury bonds, surged by 56.9 percent to P164.08 billion in the first semester from P104.58 billion a year ago.

Interest earnings climbed by 28.2 percent to P119.76 billion from P93.41 billion. Meanwhile, miscellaneous activities, such as trading gains or losses, fees, penalties and other operating income, among others stood at P44.32 billion in the first half, nearly four times higher than the P11.17 billion a year prior.