Philippine Savings Bank’s first-half profit sank 39.8% as the lender set aside more money to cover potential bad loans.
Net income fell to P1.3 billion in the six months through June from P2.16 billion in the same period last year after loan loss provisions surged to P1.5 billion.
Net interest income, the main profit driver, still rose 2% to P6.7 billion. Total assets grew 5% to P234 billion from end-June 2025.
Gross loans inched higher to P153 billion, lifted by a 6% increase in home loans and an 11% gain in business loans. Deposits expanded 4% to P177 billion, with low-cost CASA accounts also up 4%, helped by the bank’s push across branches and digital channels.
Capital remained robust at P46 billion. The common equity Tier 1 ratio held at 23% and the capital adequacy ratio at 24%—both among the strongest in the Philippine banking sector and well above the minimums set by the Bangko Sentral ng Pilipinas.
The gross non-performing loan ratio stood at 4.0% at the end of June, below the thrift banking industry average of 6.3%.
