PHILIPPINE National Bank (PNB) on Monday reported a net income of P6.37 billion for the first quarter, up five percent from a year earlier and driven by steady growth in core revenues and disciplined cost management.
Net interest income and net fee income both rose by six percent each as the bank continued to expand its revenue base despite a volatile interest-rate environment, the bank said in a disclosure.
Total loans grew 15 percent year on year, which it said reflected sustained demand across key segments.
Deposits reached P1.01 trillion, with low-cost current account and savings account deposits accounting for 80 percent of the total and highlighting a stable funding base.
“Our return on assets remained solid at 1.91 percent in the first quarter, reflecting efficient asset deployment and the benefits of a balanced loan mix that continues to support consistent earnings despite an uncertain rate environment,” Chief Financial Officer Francis Albalate said.
Return on equity stood at 10.8 percent while asset quality remained stable, with the nonperforming loan ratio at 4.78 percent.
“Despite global economic headwinds, we delivered solid first-quarter progress on the back of a strong balance sheet and growing core income,” PNB President and CEO Edwin Bautista said.
“We are building momentum with focused growth, tighter cost control, and improving asset quality — while continuing to push forward our digital and AI initiatives, regardless of the market cycle,” he added.
The bank’s credit strength was recently affirmed by Moody’s, which maintained its investment-grade rating on PNB with a stable outlook, citing the bank’s strong capital position relative to peers.
PNB was also recently ranked by Forbes in its World’s Best Banks 2026 list, published in partnership with Statista, placing it among only eight Philippine banks included in the global survey.
In the domestic capital markets, the bank was named Top Fixed Income Brokering Participant by the Philippine Dealing System Group during its 21st annual awards night, marking PNB’s third consecutive win.
The bank’s shares on Monday slipped P0.10 or 0.17 percent, to close at P59.45 each amid a 0.71-percent drop for the benchmark Philippine Stock Exchange index.
