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June 23, 2024

PSBank’s net income surges 18% to P2.17 billion in H1

Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported an 18 percent increase in net income during the first half, reaching P2.17 billion compared to P1.84 billion the previous year.

This growth led to a higher return on equity of 11.4 percent, up from 10.4 percent in the same period last year.

The bank attributed its success to recalibrated strategies, enhanced customer experiences, and a favorable economic expansion, while remaining optimistic about sustaining this progress amid external challenges.

PSBank’s loan portfolio expanded by 9 percent to P120 billion, driven by a strong demand for auto loans, and its capital adequacy ratios remain well above regulatory requirements.