Taipan Lucio Tan’s Philippine National Bank posted a 5 percent rise in first quarter profit to P6.37 billion, powered by lending growth and firm cost discipline.
Core earnings held steady as net interest income rose 6 percent and fees also grew 6 percent. Growth came from regular banking activity, not one-offs, signaling durable income streams.
Management’s view
“Despite global economic headwinds, we delivered solid first-quarter progress on the back of a strong balance sheet and growing core income,” said PNB president and CEO Edwin Bautsita in a stock exchange filing on Monday.
“We are building momentum with focused growth, tighter cost control, and improving asset quality—while continuing to push forward our digital and AI initiatives, regardless of the market cycle,” he added.
Key figures
The loan portfolio expanded 15 percent from a year earlier. Deposits reached P1.01 trillion, with current and savings accounts making up 80 percent, helping keep funding costs low.
PNB chief financial officer Francis Albalate said, “Our return on assets (ROA) remained solid at 1.91 percent in the first quarter, reflecting efficient asset deployment and the benefits of a balanced loan mix that continues to support consistent earnings despite an uncertain rate environment.”
Return on equity was 10.8 percent. Non-performing loans stood at 4.78 percent, showing stable credit quality even as rates stay volatile.
—Edited by Miguel R. Camus
