Bangko Sentral ng Pilipinas posted a net income after tax of P10.4 billion in the first eight months, a turnaround from the P1.78-billion net loss it incurred a year ago.
Data showed that interest income jumped 26.6 percent to P31.22 billion from P24.67 billion a year earlier while miscellaneous income climbed 42 percent to P20.36 billion from P14.34 billion.
Gains on foreign exchange fluctuations reached P4.82 billion, down by 28.4 percent from the P6.73 billion recorded in the same period last year. There was also a 3.2-percent decline in expenses in the January to August to P46 billion from P47.52 billion.
The biggest loss of Bangko Sentral was recorded in 2012 at P95.38 billion. However, prudent management led to a significant decline in losses in 2013 to P17.51 billion, P10.11 billion in 2014 and P3.90 billion in 2015.
Bangko Sentral’s primary objective is to promote price and financial stability conducive to balanced and sustainable economic growth. It also seeks to maintain monetary stability and the convertibility of the peso by performing a wide range of functions involving money, banking and credit in the performance of this mandate for stabilization.
