FBP First BanCorp (FBP) Q1 FY26 earnings call
First BanCorp delivered a strong Q1 FY26, marked by record pretax pre-provision income and robust profitability, with ROAA reaching 1.9%. The company maintained a high CET1 ratio of 16.9% while returning 92% of earnings to shareholders through buybacks and dividends. Despite a slight decline in total loans due to consumer lending softness, core deposit growth and improving credit quality trends underscore the franchise's resilience.
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FBP operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Common equity tier 1 ratio (CET1) | 16.9%Even after this action, the quarter, we ended the quarter with a 16.9% CET1 ratio.Source: earnings call transcript | 17%Even after these actions, we ended the quarter with a very strong CET1 of 17%, which leaves ample room to continue investing strategically in our franchise technology enhance competitiveness and improve the customer experience, which is our primary objective.Source: earnings call transcript | 16.9%Importantly, we continue to return substantial capital to shareholders through both repurchases and dividends while maintaining a CET1 ratio of 16.9%, providing significant flexibility to support opportunities and future capital deployment initiatives.Source: earnings call transcript | -0.1 pt |
| Net interest margin | 4.75%Net interest margin expanded 7 basis points for the quarter to 4.75%, which is slightly higher than our original guidance of 2 to 3 basis points per quarter.Source: earnings call transcript | — | 4.73%Net interest margin was 4.73%, declining 14 basis points from the second quarter.Source: earnings call transcript | — |
| Efficiency ratio | 49.1%The efficiency ratio for the quarter was 49.1%, which is slightly below the 49.3% we had in the fourth quarter.Source: earnings call transcript | 48.1%The efficiency ratio was 48.1%, slightly lower than the 49.1% on the previous quarter associated to the higher levels of income we saw this quarter.Source: earnings call transcript | 50%Importantly, our efficiency ratio was 50%, remaining below our long-term operating target of 52%, demonstrating continued operating discipline while we invest in the franchise and technology initiatives.Source: earnings call transcript | +1.9 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.