BancNet: Advancing to the next era in digital payments

True to its mission to continuously innovate and automate, BancNet further upgraded its systems and invested in new technologies in 2024.

- 

These equipped BancNet to be future-ready and advance to the next era in digital payments. Always a step ahead, BancNet provided its members and network participants with optimal performance and robust security.

BancNet remained true to its core of ensuring efficiency, safety, reliability, and sustainability.

ABOUT US

BancNet is an electronic payments network in the Philippines that enables its members' customers to transact at Automated Teller Machines (ATM), point-of-sale (POS) terminals, the Internet, and mobile phones. It started operations on July 17, 1990. BancNet is the clearing switch operator for real-time electronic funds transfer, dubbed InstaPay, under the National Retail Payment System.

OUR VISION

BancNet is the preferred network that enables safe, efficient, and reliable delivery of financial and related services.

The year 2024 was a good year for BancNet. We strengthened our financial foundation considerably, with notable increases in both total assets and equity.

Our total assets grew by 10% to P1.88 billion, and total equity increased by 6% to P1.24 billion, funded by net income which stood at P90.63 million. Although net income was 18.3% lower than 2023's P110.93 million due to price adjustments in our major services, these adjustments generated approximately P831 million in savings for participants.

Return on equity (ROE) was 7.51%, lower than the 9.9% in 2023. This demonstrates our commitment as an industry utility, lowering costs to participants, reinvesting profits in new technology, cybersecurity, and robust infrastructure while delivering a reasonable return to our shareholders. Your investment continues to appreciate significantly, with the total value of each institution's shareholding rising to P41.44 million. Our book value per share also increased to P656.72, while earnings per share amounted to P47.88.