This growth was fueled by higher revenues, driven by its lending business and increased fee income. The bank’s return on equity stood at 9.27 percent, with a return on assets of 1.26 percent.
Core business fuels growth
Net interest income grew 11 percent to P6.76 billion, driven by increases in corporate loans, consumer lending, and financial assets. The bank’s net interest margin improved to 4.48 percent, reflecting stronger growth in earning assets compared to liabilities.
Fee-based income rose 5 percent to P1.28 billion, boosted by a 12-percent increase in service charges, fees, and commissions. Underwriting fees jumped 59 percent to P143.27 million, while trading gains recovered to P134.75 million from a P0.47 million loss last year.
Costs rise amid expansion
Operating expenses rose 15 percent to P4.96 billion due to investments in technology, workforce growth, and higher transaction volumes. Employee compensation increased 20 percent to P1.93 billion, while technology-related depreciation climbed 33 percent to P455.67 million.
The bank set aside P199.50 million for credit and impairment losses, 10 percent lower than last year, signaling better asset quality. A cost-to-income ratio of 62 percent reflects BankCom’s focus on balancing operational efficiency with revenue growth.
