BANK of Commerce (BankCom) saw its net income rise by 11.47% in the third quarter amid higher revenues.
Its net profit climbed to P884.39 million in the three months through September from P793.38 million in the same period last year, its financial statement disclosed to the stock exchange on Monday showed.
“BankCom’s strong third-quarter performance in 2025 was driven by robust revenue growth across key business segments, led by higher net interest income and gains from foreign exchange transactions,” the bank said.
For the first nine months, BankCom’s net income stood at P2.745 billion, climbing by 24.11% from P2.21 billion a year ago.
This translated to a return on equity of 10.63% and a return on assets of 1.35%.
BankCom’s net interest income rose by 23.38% to P2.749 billion in the third quarter from P2.228 billion in the same period last year. Broken down, interest income climbed by 19.5% to P3.82 billion from P3.28 billion, outpacing the 11.33% increase in its interest expense to P1.18 billion from P1.056 billion.
As a result, its net interest margin was at 4.34% as of September, down from 4.48% a year ago.
The bank’s non-interest income likewise jumped by 15.17% year on year to P3.24 billion in the three months through September from P2.81 billion.
Meanwhile, BankCom’s operating expenses rose by 10.85% to P1.99 billion in the third quarter from P1.798 billion in the same period last year amid its efforts to widen its market share through investments in human capital and technology.
This resulted in a cost-to-income ratio of 59%, down from 62% a year ago.
BankCom’s total loans and receivables grew by 10.02% to P150.18 billion as of end-September from P136.51 billion at end-December 2024.
Its gross nonperforming loan (NPL) ratio stood at 1.34% and its net NPL ratio was at 0.55% in the period, up slightly from 1.25% and 0.49%, respectively, at the end of 2024.
The bank increased provisioning for credit and impairment losses by 16.51% to P113.81 million in the third quarter from P97.68 million a year ago. This led to an NPL coverage ratio of 79.89%.
On the funding side, total deposits decreased by 1.8% to P208.19 billion in the first nine months of 2025 from P212.01 billion at end-2024.
“The deposit mix includes P186.18 billion in current account and savings account and P22 billion in time deposits,” it added.
Its loan-to-deposit ratio was at 79%.
BankCom’s total assets stood at P276.25 billion at end-September, growing by 4.07% from P265.44 billion as of end-2024.
Its total capital funds were at P35.64 billion in the first nine months, up by 7.24% from P33.23 billion.
Capital adequacy ratio was at 16.97% as of September, down from 17.58% at the end of last year.
BankCom’s shares closed at P8.20 apiece on Monday, up by five centavos or 0.61% from the previous day. — Aaron Michael C. Sy
