Total revenue grew 8 percent, supported by a 9 percent rise in loans, a 13 percent increase in investment securities, and an 18 percent gain in fee-based income.
“The bank is now harvesting the benefits from focusing on the improvement in the quality of the lending portfolio through deliberate acquisition of quality customers and improvements in the credit and lending processes and policies,” said PNB chief financial officer Francis Albalate.
Operating expenses climbed 9 percent, in line with business expansion, but provisions for credit losses dropped sharply by 87 percent as non-performing loans declined and credit quality improved.
“We expect steady business growth with a strong plan in place to grow corporate, commercial and consumer businesses,” said PNB president Edwin Bautista.
“The bank’s plan for digitalization will further expand opportunities across all areas of the business as the bank prepares itself for advancing innovations that will prioritize improving service to the bank’s customers,” he added.
Total assets reached P1.25 trillion, with capital up 8 percent from December 2024, the lender said.
—Edited by Miguel R. Camus
