Bangko Sentral ng Pilipinas incurred a net loss of P3.77 billion in the first 11 months of 2015, lower than the P7.19-billion loss it registered a year ago.
Data showed the bank regulator posted an interest income of P35.48 billion in January to November, higher than P30.27 billion a year earlier. Miscellaneous income also improved to P16.54 billion from P16.04 billion during the period.
Interest expenses increased to P44.72 billion in the 11-month period from P42.28 billion a year ago. Net loss on foreign exchange rate fluctuations fell to P13.70 billion from P16.94 billion.
Bangko Sentral has incurred losses since 2010, mainly due to a stronger peso, which pulled down the peso value of its foreign currency-denominated reserves.
It posted a net loss of P59.04 billion in 2010, P33.69 billion in 2011, P95.38 billion in 2012, P17.51 billion in 2013 and P10.11 billion in 2014.
Bangko Sentral said in an earlier report that it registered a net loss of P856 million in the third quarter last year, a reversal of the P1.041-billion net profit a quarter ago, due mainly to lower miscellaneous income.
The preliminary and unaudited statement of financial condition of Bangko Sentral showed that as of end-September 2015, the bank’s total assets reached P4.296 trillion, up by 5.8 percent or P234.3 billion from a year ago.
Bangko Sentral’s liabilities increased by 6 percent to P240.6 billion to P4.253 trillion as of end-September 2015.
Bangko Sentral’s net worth decreased to P42.5 billion as of end-September.
Bangko Sentral is currently pushing for the passage into law of a bill seeking additional P150-billion capitalization. The government released in January 2014 an equity assistance of P10 billion to Bangko Sentral that completed its P50-billion capitalization, 20 years since its creation in 1993.
Bangko Sentral is seeking an additional capitalization of P150 billion payable in three years, on top of the existing P50 billion, in a bid to accomplish its functions effectively.