November 12, 2026San Miguel Corporation (SMC) affiliate Bank of Commerce (BankCom) posted an unaudited net income of ₱3.17 billion as of 30 September 2026, up 15% year-on-year. This translated to a return on equity (ROE) and return on assets (ROA) of 11.58% and 1.47%, respectively. The 3Q 2026 results demonstrate the Bank’s solid performance, underpinned by sustained growth across core revenue streams, led by higher net interest income, supplemented by fee-based earnings, as well as gains from the sale of investment properties and assets. BankCom’s sustained financial strength highlights the effective implementation of its SMC ecosystem strategy, enabling optimal capital utilization, greater operational efficiency, and sound risk management. 9M 2026 FINANCIAL HIGHLIGHTS (YoY): Net income up 15% to ₱3.17 billion vs ₱2.75 billion in 3Q25, mainly due to core business growth. Net interest income reached ₱9.59 billion, 21% higher than ₱7.90 billion in same period last year. Non-interest income at ₱1.11 billion, ₱286.60 million lower than ₱1.40 billion the prior year due to prevailing market uncertainties Gross revenue rose to ₱10.70 billion, up 15% compared to the ₱9.29 billion in 2025. ROE stood at 11.58%, highest since IPO and the 6.55% in 2010. ROA and NIM reached a record high of 1.47% and 4.88%, respectively, highest since SMC acquisition Cost to income ratio of 58%. Gross non-performing loans (NPL) ratio at 1.52% Net non-performing loan (NPL) ratio of 0.63%. Capital levels remained strong with a Total CAR of 16.06%. 3Q 2026 FINANCIAL HIGHLIGHT (QoQ): Net income as of 3Q 2026 was ₱1.06 billion, up 20% from the ₱884.39 million in the same quarter last year. Net interest income grew by 26% to ₱3.48 billion from the ₱2.75 billion in previous year and 11% higher versus June 2026. Non-interest income slowed amounting to ₱327.03 million, 33% lower than ₱486.49 million in the same quarter last year due to lingering effects of the Iran war Gross revenue of ₱3.80 billion was 18% higher than same quarter of last year’s ₱3.24 billion on account of higher net interest income. This is also 5% up from 2Q 2026’s ₱3.61 billion. Operating expenses excluding provisions as of 3Q 2026 posted ₱2.13 billion, 13% higher than the ₱1.88 billion in the same period in 2025 and 3% up from 2Q 2026. RECENT AND KEY EVENT/S: November 11, 2026 – BankCom successfully raised ₱17.4 billion through its dual-tranche Peso Bond offering July 8, 2026 – BankCom inaugurated its Davao-Ecoland Branch July 14, 2026 – 1st e-raffle for AYS 3 promo for non-retail and 3rd e-raffle for AYS 3 promo for retail July 15, 2025 – payment of dividends to stockholders on record July 17, 2026 – BankCom implements ₱0 transfer fees via InstaPay and PESONet August 3, 2026 – PSE adds BankCom to Financials Index August 6, 2026 – BankCom inaugurated its Greenhills-Ortigas branch August 14, 2026 – 4th e-raffle for AYS 3 promo for retail August 21, 2026 – Forbes announced that BankCom has been selected as one of the World’s Top Performing Banks 2026 September 11, 2026 – 5th e-raffle for AYS 3 promo for retail September 15, 2026 – BankCom was announced one of the awardees for Best of the Sellside at The Asset Benchmark Research Awards 2026 Revenues BankCom‘s notable third quarter performance in 2026 was fueled by strong revenue growth across core business segments, primarily due to higher net interest income and improved income generation from fees and sale of investment properties and assets. Net interest income rose to ₱9.59 billion, marking an increase of 21% from ₱7.90 billion recorded in 2025. The upward trajectory was due to the expansion in earning assets, on an average daily balance basis, primarily loans and investment securities. The stronger growth in revenues from interest earning assets relative to interest-bearing liabilities resulted in an increase in the net interest margin (NIM) to 4.88%. Other income declined by 20% to ₱1.11 billion, on account of losses in trading and investment securities and weaker foreign exchange gains amid volatile market conditions. This was partially offset by the 4% increase in service charges, fees and commissions as well as 4% rise in gains from the sale of properties and assets. Meanwhile, the Bank maintained a disciplined risk management approach, by recognizing ₱205.78 million in provisions for credit and impairment losses, 1.7x higher than the amount booked in the same period last year. Despite the challenging operating environment, the Bank remained resilient, preserving the strength of its overall financial position. Operating expenses, excluding provision for credit and impairment losses, amounted to ₱6.18 billion, up by 13% from ₱5.48 billion in 2025. The expansion was consistent with the Bank’s efforts to widen its market share through its continued investment in human capital and technology, partnered with higher volume of transactions. Compensation expenses grew by 10% to ₱2.52 billion, driven by an expanded workforce and enhanced retention initiatives. Depreciation and amortization amounted to ₱541.82 million, 10% higher compared to ₱492.92 million in 2025 due to higher depreciation of leasehold rights as well as other properties acquired. Amortization of software costs increased to ₱128.06 million, 24% higher than the ₱102.90 million last year due to continued investments in technology and software services. Service fees and commissions slightly declined by 2% to ₱294.77 million. In contrast, taxes and licenses increased by 24% to ₱1.06 billion, reflecting higher business activity. The bank’s strategic focus on enhancing its revenue streams effectively cushioned the impact of elevated operating expenses. This resulted in an improvement in its cost-to-income ratio to 58%, underscoring improved operational efficiency. Balance Sheet As of 30 September 2026, total assets stood at ₱288.02 billion, translating to return on assets (ROA) of 1.47%, highest since 2008. Total loans and receivables, which comprise almost 57% of total assets, remained relatively flat, amounting to ₱162.89 billion. This translated to a loan-to-deposit ratio of 72%. Asset quality remained sound, with gross non-performing loans (NPL) at 1.52 % and net NPL at 0.63 %, from 1.33% and 0.62%, respectively, at the end of 2025. Total deposits were relatively stable at ₱223.96 billion. The deposit mix includes ₱199.33 billion in current account and savings account (CASA) deposits and ₱24.63 billion in time deposits. Bonds payable held steady at ₱17.93 billion, reflecting a modest 0.25% increase from ₱17.88 billion as of end-2025. BankCom’s capital funds stood at ₱36.43 billion. The bank’s capital adequacy ratio (CAR) remained strong at 16.06%, well above the regulatory minimum of 10.0%. About BankCom An affiliate of San Miguel Corporation (SMC) since 2008, Bank of Commerce is a publicly-listed universal bank focused on helping its clients, communities and conglomerate partners by delivering the best choice of financial services harnessing the strengths of the SMC Group. BankCom traces its origins to the Overseas Bank of Manila which opened in Binondo, Manila which opened in Binondo, Manila in 1963 but is now identified by its logo bearing the SMC symbols of escudo and cloverleaf. The Bank maintains a network of 146 branches – inclusive of the main branch, 140 regular branches, and 5 branch lite units –and 287 automated teller machines (ATMs) and cash kiosks, strategically located nationwide as of November 10, 2026.