BSP 10-month profit rises 8.6%
02/05/2010 | 10:56 AM
The Bangko Sentral ng Pilipinas (BSP) booked an 8.63% rise in its net income as of October 2009, with miscellaneous income almost doubling in the 10-month period from a year ago.
Data posted on the central bank website showed the BSP posting a net income of P5.41 billion as of October, after revenues climbed to P79.56 billion from P74.04 billion in the same period in 2008
The BSP’s miscellaneous earnings, which come from fees and commissions, income from acquired assets, and gains from securities trading in the open market, almost doubled to P28.15 billion from P15.84 billion.
However, its interest earnings from its deposits slid by 11.67% to P51.41 billion.
In 2008, the BSP turned over almost three-quarters of its P8.93-billion profit to the government as dividends.
Its 2008 performance was a reversal from a loss of P113.7 billion in 2007 mainly due to the peso’s slide against the dollar. -- D. G. K. Carreon, BusinessWorld
Data posted on the central bank website showed the BSP posting a net income of P5.41 billion as of October, after revenues climbed to P79.56 billion from P74.04 billion in the same period in 2008
The BSP’s miscellaneous earnings, which come from fees and commissions, income from acquired assets, and gains from securities trading in the open market, almost doubled to P28.15 billion from P15.84 billion.
However, its interest earnings from its deposits slid by 11.67% to P51.41 billion.
In 2008, the BSP turned over almost three-quarters of its P8.93-billion profit to the government as dividends.
Its 2008 performance was a reversal from a loss of P113.7 billion in 2007 mainly due to the peso’s slide against the dollar. -- D. G. K. Carreon, BusinessWorld
