Bank of Commerce (BankCom), an affiliate of San Miguel Corp., reported a record net income of ₱3.54 billion for 2025, up 17% from ₱3.02 billion a year earlier and nearly double the ₱1.80 billion it posted in its IPO year of 2022.
The lender said growth was driven by higher net interest income and gains from trading and foreign exchange.
“This milestone reflects another strong result of BankCom’s continuous commitment to excellence and strong performance,” BankCom said.
Return on equity rose to 10.14%, the highest in 16 years, compared with 9.44% in 2024 and 7.01% in 2022. Return on assets improved to 1.28% from 1.22% last year, while net interest margin climbed to 4.35%, its highest since 2009.
Operating efficiency also improved, with cost-to-income ratio narrowing to 59% from 62% in 2024 and 68% in 2022. Book value per share rose 12% to ₱22.22, up 31% from its IPO level of ₱16.96.
BankCom declared its first-ever special dividend in July 2025, paying a total of ₱0.4500 per share, a 79% increase from the ₱0.2512 distributed in 2024.
The bank expanded its branch lite unit network last year, opening outlets at Caticlan airport and NAIA Terminal 3 to boost customer access and visibility.
