• Bank of Commerce posted record full-year 2025 net income of P3.54 billion, up 17 percent from P3.02 billion in 2024
• Net interest income climbed 18 percent to P10.78 billion, lifting gross revenue 17 percent to P12.61 billion
• Return on equity rose to a 16-year high of 10.14 percent, while net interest margin reached 4.35 percent, the highest since 2009
• The bank paid its first special dividend in 2025 and expanded its branch lite unit network with new sites at Caticlan airport and NAIA Terminal 3
Bank of Commerce kept its post-listing streak alive in 2025, delivering a third straight year of record earnings since its 2022 initial public offering as stronger lending, trading gains, and foreign exchange income lifted profit and shareholder returns.
The San Miguel Corp. affiliate said full-year net income rose to P3.54 billion, from P3.02 billion a year earlier and nearly double the P1.80 billion it booked in its IPO year. Gross revenue reached P12.61 billion, also a record, as core income continued to do the heavy lifting.
Growth drivers
Net interest income increased 18 percent to P10.78 billion from P9.11 billion, helped by higher income from loans, receivables, investment securities, and financial assets at fair value. Other income rose 11 percent to P1.83 billion, supported by favorable trading results and a bigger foreign exchange client base.
That revenue mix pushed net interest margin to 4.35 percent, up from 3.73 percent in 2022, while the cost-to-income ratio improved to 59 percent from 62 percent in 2024 and 68 percent in the IPO year.
The profitability picture
Return on equity climbed to 10.14 percent from 9.44 percent in 2024, while return on assets improved to 1.28 percent from 1.22 percent. Book value per share rose 12 percent to P22.22, extending the gain to 31 percent from the IPO level of P16.96.
Fourth-quarter net income slipped 2 percent to P794.79 million from P813.08 million a year earlier, even as quarterly net interest income rose 23 percent to P2.88 billion and non-interest income increased 18 percent to P431.13 million.
Operating expenses excluding provisions rose 13 percent to P1.94 billion.
Total assets grew 8 percent to P286.85 billion. Loans and receivables jumped 19 percent to P162.82 billion, or 57 percent of assets, while deposits increased 5 percent to P223.31 billion. Net non-performing loan ratio stayed low at 0.62 percent and capital adequacy ratio stood at 16.48 percent.
—Edited by Miguel R. Camus
