BSP profit hits P110-B as of end-Sept.

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Transcript

00:00The Banco Central ng Pilipinas, or BSP, reported a net income of Php 109.7 billion on the third

00:07quarter of 2020 for a 392 percent increase from Php 22.3 billion last year, driven by higher

00:17interest income from international reserves. BSP's total revenues reached Php 244.3 billion,

00:24up 55.7 percent from Php 156.9 billion in the same period of last year,

00:31mainly from interest income on international reserves and domestic securities.

00:36Interest income increased by 24.2 percent to Php 179.1 billion, while miscellaneous income

00:44surged 409 percent to Php 65.2 billion, including trading gains and other fees.

00:52BSP's expenses dropped by 11.3 percent to Php 161.8 billion. Interest expenses rose slightly

01:01by 1.37 percent, while other expenses, mainly from trading losses, fell significantly from

01:07Php 58.4 billion to Php 36.2 billion.

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