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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	47,856	44,126	35,379	34,558	37,889	40,521
Interest Income on Investments	18,255	15,468	9,865	7,844	9,062	9,992
Total Interest Income	66,111	59,595	45,244	42,402	46,950	50,513
Interest Paid on Deposits	16,278	13,006	5,372	4,814	7,379	14,025
Interest Paid on Borrowings	1,803	1,996	2,545	2,744	3,751	4,130
Total Interest Expense	18,081	15,002	7,917	7,558	11,130	18,155
Net Interest Income	48,030	44,593	37,328	34,845	35,820	32,358
Net Interest Income Growth (YoY)	10.18%	19.46%	7.13%	-2.72%	10.70%	19.84%
Income From Trading Activities	1,004	394.1	-1,281	731.57	3,338	1,074
Gain (Loss) on Sale of Assets	1,988	4,542	7,775	34,267	195.84	690.63
Gain (Loss) on Sale of Equity Investments	373.15	268.09	-56.06	50.79	88.48	-97.61
Other Non-Interest Income	6,828	7,563	8,313	7,103	5,866	6,751
Total Non-Interest Income	10,193	12,767	14,752	42,152	9,488	8,419
Non-Interest Income Growth (YoY)	-27.91%	-13.45%	-65.00%	344.28%	12.70%	-29.27%
Revenues Before Loan Losses	58,223	57,360	52,079	76,996	45,308	40,776
Provision for Loan Losses	4,324	5,757	7,165	10,725	16,883	2,482
Revenue	53,899	51,603	44,914	66,271	28,425	38,294
Revenue Growth (YoY)	16.85%	14.89%	-32.23%	133.14%	-25.77%	3.04%
Salaries and Employee Benefits	10,889	10,464	9,763	9,986	10,167	9,442
Occupancy Expenses	4,184	4,623	5,050	3,718	3,565	3,235
Selling, General & Administrative	1,596	1,114	1,425	1,041	1,380	1,791
Other Non-Interest Expense	11,532	11,564	11,754	11,006	10,929	10,958
Total Non-Interest Expense	28,201	27,765	27,992	25,751	26,041	25,426
EBT Excluding Unusual Items	25,698	23,838	16,922	40,520	2,384	12,869
Asset Writedown	-166.1	-166.1	-33.3	-	-	-428.22
Legal Settlements	-484.4	-662.61	-373.74	-395.39	-248.3	-326.59
Other Unusual Items	-	-	-	-	-1,588	-
Pretax Income	24,011	21,973	16,515	37,971	548.42	12,114
Income Tax Expense	4,485	4,007	4,931	5,545	-1,866	2,452
Earnings From Continuing Operations	19,526	17,966	11,584	32,425	2,415	9,662
Earnings From Discontinued Operations	-	-	-	-735.37	210.67	99.49
Minority Interest in Earnings	-115.76	13.44	-51.67	-59.41	-10.84	-79.73
Net Income	19,410	17,979	11,532	31,631	2,615	9,681
Net Income to Common	19,410	17,979	11,532	31,631	2,615	9,681
Net Income Growth	41.23%	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)	12.72	11.78	7.56	20.73	1.71	7.05
EPS (Diluted)	12.72	11.78	7.56	20.73	1.71	7.05
EPS Growth	41.23%	55.90%	-63.54%	1109.75%	-75.70%	-6.92%
Effective Tax Rate	18.68%	18.24%	29.86%	14.60%	-	20.24%

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