Philippine National Bank (PSE: PNB)

Philippine National Bank Income Statement

Financials in millions PHP. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	46,927	44,126	35,379	34,558	37,889	40,521
Interest Income on Investments	17,359	15,468	9,865	7,844	9,062	9,992
Total Interest Income	64,287	59,595	45,244	42,402	46,950	50,513
Interest Paid on Deposits	15,552	13,006	5,372	4,814	7,379	14,025
Interest Paid on Borrowings	1,727	1,996	2,545	2,744	3,751	4,130
Total Interest Expense	17,279	15,002	7,917	7,558	11,130	18,155
Net Interest Income	47,008	44,593	37,328	34,845	35,820	32,358
Net Interest Income Growth (YoY)	13.00%	19.46%	7.13%	-2.72%	10.70%	19.84%
Income From Trading Activities	696.09	394.1	-1,281	731.57	3,338	1,074
Gain (Loss) on Sale of Assets	2,114	4,542	7,775	34,267	195.84	690.63
Gain (Loss) on Sale of Equity Investments	348.98	268.09	-56.06	50.79	88.48	-97.61
Other Non-Interest Income	6,549	7,563	8,313	7,103	5,866	6,751
Total Non-Interest Income	9,708	12,767	14,752	42,152	9,488	8,419
Non-Interest Income Growth (YoY)	-28.91%	-13.45%	-65.00%	344.28%	12.70%	-29.27%
Revenues Before Loan Losses	56,716	57,360	52,079	76,996	45,308	40,776
Provision for Loan Losses	6,258	5,757	7,165	10,725	16,883	2,482
Revenue	50,458	51,603	44,914	66,271	28,425	38,294
Revenue Growth (YoY)	16.36%	14.89%	-32.23%	133.14%	-25.77%	3.04%
Salaries and Employee Benefits	10,630	10,464	9,763	9,986	10,167	9,442
Occupancy Expenses	4,307	4,623	5,050	3,718	3,565	3,235
Selling, General & Administrative	1,366	1,114	1,425	1,041	1,380	1,791
Other Non-Interest Expense	11,011	11,564	11,754	11,006	10,929	10,958
Total Non-Interest Expense	27,313	27,765	27,992	25,751	26,041	25,426
EBT Excluding Unusual Items	23,145	23,838	16,922	40,520	2,384	12,869
Asset Writedown	-166.1	-166.1	-33.3	-	-	-428.22
Legal Settlements	-503.92	-662.61	-373.74	-395.39	-248.3	-326.59
Other Unusual Items	-	-	-	-	-1,588	-
Pretax Income	21,438	21,973	16,515	37,971	548.42	12,114
Income Tax Expense	2,924	4,007	4,931	5,545	-1,866	2,452
Earnings From Continuing Operations	18,514	17,966	11,584	32,425	2,415	9,662
Earnings From Discontinued Operations	-	-	-	-735.37	210.67	99.49
Minority Interest in Earnings	-74.65	13.44	-51.67	-59.41	-10.84	-79.73
Net Income	18,440	17,979	11,532	31,631	2,615	9,681
Net Income to Common	18,440	17,979	11,532	31,631	2,615	9,681
Net Income Growth	79.91%	55.90%	-63.54%	1109.74%	-72.99%	2.29%
Basic Shares Outstanding	1,526	1,526	1,526	1,526	1,526	1,373
Diluted Shares Outstanding	1,526	1,526	1,526	1,526	1,526	1,373
Shares Change (YoY)	-	-	-	-	11.15%	9.89%
EPS (Basic)	12.09	11.78	7.56	20.73	1.71	7.05
EPS (Diluted)	12.09	11.78	7.56	20.73	1.71	7.05
EPS Growth	79.91%	55.90%	-63.54%	1109.75%	-75.70%	-6.92%
Effective Tax Rate	13.64%	18.24%	29.86%	14.60%	-	20.24%

Source: S&P Capital IQ. Banks template. Financial Sources.