BSP reports ₱117.6 billion net income in 2024

The Bangko Sentral ng Pilipinas (BSP) reported a significant increase in net income to ₱117.6 billion for 2024, up from ₱26.5 billion in 2023.

This surge is attributed to higher revenues and lower expenses; total earnings reached ₱300.4 billion last year, marking a 41 percent increase from the previous year.

Interest income accounted for over 80% of these revenues at ₱240.8 billion, while miscellaneous income contributed nearly 20%, totaling ₱59.6 billion.

Total expenditures decreased by almost seven percent to ₱226.7 billion, driven primarily by a decline in other expenses which dropped by more than 20%.

The BSP's total assets grew to ₱7.81 trillion, with international reserves making up over 78% of these assets at ₱6.11 trillion.