Global energy shock tests Philippine lenders’ resilience
They are switching to a defensive stance as new central bank relief measures begin to bite
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[MANILA] After posting a strong start to 2026, the Philippines’ top lenders are bracing for a potential earnings hit as analysts warn that new energy crisis relief measures from the central bank could weigh on interest income.
The scenario reveals a shared vulnerability across Asean, where soaring energy costs are increasingly viewed as a driver of credit risk.
The first-quarter results of the country’s largest banks by assets – BDO Unibank, Bank of the Philippine Islands (BPI) and Metrobank – highlight deep capital reserves, but the impact of energy price shocks precipitated by geopolitical tension in the Middle East threatens to erode the margins that fuelled their record growth.
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