PNB First Half 2015 Operating Results

The Philippine National Bank (PNB) continued to improve its profitability in the second quarter of 2015 with a net income of Php 2.4 billion, almost twice the net income posted in the first quarter of the year. Compared to the same quarter of 2014, the Bank’s net profit registered a 26% increase. The strong performance during the quarter was driven by the sustained growth in the Bank’s core business as net interest income increased by 10% year-on-year while fee-based and other income excluding treasury-related income rose by 19%.

For the first half of 2015, PNB recorded a net income of Php3.6 billion, 12% higher than the year-ago level. Comprising 65% of total operating income, the Bank’s net interest income increased by 2.5% to Php 8.7 billion. If not for the redemption of non-performing assets in 2014, the Bank’s core net interest income actually grew by 11%. Excluding trading and foreign exchange gains, non-interest income was up by 20%. This was largely contributed by substantial increases in net insurance premiums and gains from sale of assets, which included the sale of Php 1 billion worth of Heritage Park memorial lot inventory to STI Group’s pre-need affiliate PhilPlans First Inc. The 36% improvement in the net profits of PNB’s subsidiaries also contributed to the Bank’s solid performance.

PNB ended the first half of 2015 with consolidated assets reaching Php 644.7 billion. Loan portfolio grew by 25% year-on-year to P331.9 billion, boosted by the double-digit increases in corporate and commercial/SME loans. Notwithstanding the aggressive loan expansion, asset quality continued to improve as the Bank reduced significantly its non-performing loans (NPLs) through negotiated settlements and other collection initiatives. As a consequence, NPL ratios declined further to 0.30% (net of valuation reserves) and 2.87% (at gross) from 1.16% and 4.14%, respectively, a year ago. NPL coverage is now at 119.9%.

By end-June 2015, PNB’s consolidated risk-based capital adequacy ratio (CAR) has consistently exceeded the minimum regulatory requirement of 10% with total CAR at 19.6% and Tier 1 CAR ratio 16.6%.

Customer Care

Bank Hotline
Tel. No.: (+632) 8573 8888
PNB Cards
Tel. No.: (+632) 8818 9818
Deposits are insured by PDIC up to P500,000 per depositor.
PNB is regulated by the Bangko Sentral ng Pilipinas
BSP Webchat -
SMS: 021582277 (for Globe subscribers only)
BSP Facebook -
Privacy Policy