Bangko Sentral ng Pilipinas incurred a net loss of P3 billion in the first nine months, lower than the P5.3-billion net loss a year ago.
Data showed the Bangko Sentral posted a net loss of P856 million in the third quarter alone, a reversal of a P1.041-billion net profit in the second quarter, due mainly to lower miscellaneous income.
The third-quarter figure, however, was significantly lower compared with the P5.891-billion net loss in the third quarter last year.
“Total revenues for the third quarter of 2015 amounted to P11.8 billion, lower than the P16.1 billion posted in the previous quarter, as miscellaneous income decreased by 78.8 percent from the previous quarter’s aggregate level, due mostly from reduced trading gains from domestic and foreign currency securities,” Bangko Sentral said in a report on economic and financial developments for the third quarter of 2015.
Total expenditures in the third quarter amounted to P18 billion, or P0.5 billion lower than the level posted in the second quarter.
“The quarter-on-quarter decrease in expenditures was due mainly to lower interest expense on loans payable and other foreign currency deposits, cost of minting/printing of currencies and other expenses,” it said.
Total assets reached P4.296 trillion as of end September, up by 5.8 percent or P234.3 billion from a year ago. “The increase in the BSP’s assets was mainly due to the higher level of international reserves and other assets accounts. The international reserves account rose to P3.753 trillion in the third quarter, an increase of 3.6 percent or P131.5 billion from the previous quarter’s P3.622 trillion,” it said.
Bangko Sentral’s liabilities increased 6 percent or P240.6 billion as of end-September from a year earlier, due to the rise in currency issues and downward revaluation of international reserves.
Issued currencies increased by P18.8 billion to P817.3 billion from P798.6 billion a quarter ago.Total deposits at Bangko Sentral increased by P6.7 billion to P2.952 trillion, notwithstanding the decrease in special deposit accounts of about 5.4 percent or P54.4 billion in the third quarter.
Bangko Sentral’s net worth went down by 13.1 percent to P6.4 billion to P42.5 billion.
Bangko Sentral is pushing for the passage into law of a bill seeking additional P150-billion capitalization.