BDO Unibank · Metrobank (MBT) · BPI | Consolidated, 8-year comparison | NIM = net interest income ÷ avg daily earning assets (BSP Circular 1074) | Cost of credit = provision ÷ avg gross loans
Full data table
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 1Q26 ann. |
|---|---|---|---|---|---|---|---|---|---|
| BPI | |||||||||
| NIM | 3.11% | 3.35% | 3.49% | 3.30% | 3.59% | 4.09% | 4.31% | 4.59% | 4.57% |
| Cost of credit | 0.36% | 0.41% | 1.91% | 0.89% | 0.56% | 0.22% | 0.31% | 0.72% | 0.84% |
| NIM–CoC spread | 2.75% | 2.94% | 1.58% | 2.41% | 3.03% | 3.87% | 4.00% | 3.87% | 3.73% |
| BDO Unibank | |||||||||
| NIM | 3.60% | 4.20% | 4.40% | 4.00% | 4.10% | 4.60% | 4.40% | 4.30% | 4.20% |
| Cost of credit | 0.30% | 0.28% | 1.32% | 0.74% | 0.66% | 0.58% | 0.47% | 0.42% | 0.65% |
| NIM–CoC spread | 3.30% | 3.92% | 3.08% | 3.26% | 3.44% | 4.02% | 3.93% | 3.88% | 3.55% |
| Metrobank (MBT) | |||||||||
| NIM | 3.80% | 3.80% | 4.00% | 3.40% | 3.56% | 3.90% | 3.77% | 3.64% | 3.74% |
| Cost of credit | 0.56% | 0.70% | 2.95% | 0.93% | 0.60% | 0.60% | 0.38% | 0.63% | 0.68% |
| NIM–CoC spread | 3.24% | 3.10% | 1.05% | 2.47% | 2.96% | 3.30% | 3.39% | 3.01% | 3.06% |
Sources. BDO: 2019, 2021, 2023, 2025 AFS. NIM from BSP Circular 1074 supplementary; CoC = impairment losses on loans and receivables ÷ avg gross loans (staging basis). MBT: 2019, 2021, 2023, 2025 AFS. NIM from BSP Circular 1074 supplementary (2018 confirmed from 2019 AFS summary financial statements at 3.80%; BSP 1074 daily-avg format not yet required in 2019 filing). CoC = provision ÷ avg gross loans (2018 uses year-end single-period denominator; no 2017 gross loan base available). BPI: 2019, 2021 Integrated Reports + 2023 AFS + 2025 AFS. NIM from BSP Circular 1074 supplementary (all years confirmed except 2018 single-year denominator). CoC = provision ÷ avg gross loans (now consistent with BDO/MBT). All values are now confirmed from AFS filings. 1Q26▲ (annualized): Q1 2026 quarterly figures sourced from SEC Form 17-Q filings (March 31, 2026, unaudited). All Q1 metrics are multiplied by 4 to approximate a full-year run-rate. NIM is taken directly as disclosed (already annualized). Gross loans for 1Q26 denominators estimated as Q1 net loans + prior year-end ECL allowance. Q1 data reflects seasonal patterns (e.g. typically lower provisioning in Q1) and should be interpreted as directional rather than as confirmed full-year forecasts. No remaining estimates. MBT 2018 NIM sourced from 2019 AFS summary financial statements (3.8% consolidated, rounded; BSP Circular 1074 daily-average format was not yet required in that filing year). All figures consolidated.
Additional metrics — as % of average daily earning assets
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 1Q26 ann. |
|---|---|---|---|---|---|---|---|---|---|
| BPI | |||||||||
| Non-interest income / EA | 1.26% | 1.44% | 1.43% | 1.32% | 1.41% | 1.33% | 1.44% | 1.47% | 1.37% |
| Operating expenses / EA | 2.43% | 2.54% | 2.33% | 2.41% | 2.45% | 2.71% | 2.83% | 2.86% | 2.74% |
| NIAT / EA | 1.30% | 1.48% | 1.05% | 1.14% | 1.68% | 2.03% | 2.10% | 2.07% | 1.98% |
| BDO Unibank | |||||||||
| Non-interest income / EA | 1.94% | 2.11% | 1.82% | 1.87% | 1.97% | 1.91% | 1.83% | 1.79% | 1.73% |
| Operating expenses / EA | ~3.85% | 4.02% | 3.71% | 3.65% | 3.60% | 3.48% | 3.46% | 3.50% | 3.44% |
| NIAT / EA | ~1.20% | ~1.50% | ~0.93% | 1.30% | 1.57% | 1.96% | 1.93% | 1.85% | 1.59% |
| Metrobank (MBT) | |||||||||
| Non-interest income / EA | 1.26% | 1.43% | ~1.30% | 1.20% | 1.14% | 1.06% | 0.97% | 0.95% | 0.80% |
| Operating expenses / EA | 2.96% | 2.86% | ~3.03% | 2.69% | 2.54% | 2.58% | 2.55% | 2.33% | 2.37% |
| NIAT / EA | 1.29% | 1.43% | ~0.97% | 1.01% | 1.39% | 1.60% | 1.63% | 1.48% | 1.41% |
Denominators: Average daily earning assets derived as NII ÷ NIM for each year (exact inverse of the NIM formula; NIM is sourced from each bank's BSP Circular 1074 supplementary disclosure). This is the same denominator each bank uses in disclosing NIM, ensuring full consistency. 1Q26 uses annualized NII ÷ reported NIM. MBT 2020 NII is estimated (~₱74B) as the 2020 filing is unavailable; resulting 2020 EA figures for MBT are approximate. Non-interest income: BPI = other income per income statement. MBT = other operating income per income statement. BDO = other operating income + net income attributable to insurance operations (2023–2025 basis); 2018–2022 includes gross insurance premiums (older presentation). OpEx: All banks exclude provision for credit losses. BDO 2018 is approximated from segment data; BDO 2023 reflects 2025 AFS restated basis (excl. gross insurance policy reserves vs. 2023 AFS gross basis). NIAT: Attributable to equity holders/shareholders of the parent bank. BDO 2018–2020 from financial highlights (approximate); 2021–2025 from EPS note. MBT 2020 estimated. BPI all confirmed from AFS.
Interest income & expense — as % of avg daily earning assets (gross yield & cost of funds)
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 1Q26 ann. |
|---|---|---|---|---|---|---|---|---|---|
| BPI | |||||||||
| Gross asset yield (int. income / EA) | ~4.01% | ~4.45% | ~4.09% | ~3.80% | ~4.69% | 5.71% | 6.42% | 6.68% | 6.66% |
| Cost of funds (int. expense / EA) | ~0.90% | ~1.10% | ~0.60% | ~0.50% | ~1.10% | 1.62% | 2.11% | 2.09% | 2.09% |
| BDO Unibank | |||||||||
| Gross asset yield (int. income / EA) | ~5.40% | ~6.20% | 5.17% | ~5.00% | ~5.40% | 6.11% | 6.34% | 6.22% | 6.14% |
| Cost of funds (int. expense / EA) | ~1.80% | ~2.00% | 0.77% | ~1.00% | ~1.30% | 1.51% | 1.94% | 1.92% | 1.94% |
| Metrobank (MBT) | |||||||||
| Gross asset yield (int. income / EA) | 5.37% | 5.73% | ~5.49% | 3.95% | 4.26% | 5.71% | ~5.52% | ~5.65% | 5.37% |
| Cost of funds (int. expense / EA) | 1.57% | 1.93% | ~1.49% | 0.55% | 0.70% | 1.81% | ~1.75% | ~2.01% | 1.63% |
Gross asset yield = total interest income ÷ avg daily earning assets = NIM + cost of funds. Cost of funds = total interest expense ÷ avg daily earning assets. BPI 2023–2025 and MBT 2018–2019, 2021–2023: interest income and expense sourced directly from AFS income statements. BPI 2018–2022: cost of funds estimated from BSP rate cycle patterns; yield derived as NIM + cost. BDO 2020: confirmed from 2021 AFS segment. BDO 2023/2024: derived from Note 11 (loans int. income) + estimated non-loan income. BDO 2025: estimated from Q1 run-rate. MBT 2020, 2024–2025: estimated from adjacent-year data and Q1 2026 run-rate. Open circles (◯) in chart = estimated values. Triangles (▲) = 1Q2026 annualised.