BSP profit surges to P105 B

The Bangko Sentral ng Pilipinas (BSP) earned P105.6 billion from January to August, nearly five times higher than the P22.9 billion in the same period a year ago, amid higher revenues and lower spending.

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Preliminary data showed the total revenue of the central bank, comprising interest income on foreign investments, government securities and Treasury bonds, surged by 57.6 percent to P220.2 billion from P139.7 billion a year ago.

During the eight-month period, the BSP's interest earnings rose by 24.9 percent to P159.3 billion from P127.5 billion.

Miscellaneous activities such as trading gains or losses, fees, penalties and other operating income, among others, jumped by five times to P60.9 billion from last year's gains amounting to P12.2 billion.