BBS losses widen :: Mmegi Online

The country’s youngest commercial bank, BBS Bank, recorded pretax losses of P76.2 million for the half-year ended June 30, compared to a loss of P18.7 million in the prior corresponding period, weighed down by elevated funding costs and high expected credit losses.

As competition for deposits remained stiff in the banking sector, BBS Limited saw its interest expense rise more than 47%, eating into returns at a time when the bank slowed down its credit output due to weaknesses in the market. BBS Bank’s interest income rose by 7.2 percent over the same period, with executives noting “pressure on customer repayment capacity”.

The bank’s loan book declined to P4.5 billion from P4.6 billion over the same period. Net interest income for the period was P50.8 million, compared with P106.6 million reported for the period ended June 30, 2025, with executives explaining that the difference reflected lower interest income and the continued effect of high-cost deposits.

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banking sector

BBS losses widen

The country’s youngest commercial bank, BBS Bank, recorded pretax losses of P76.2 million for the half-year ended June 30, compared to a loss of P18.7 million in the prior corresponding period, weighed down by elevated funding costs and high expected credit losses.

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