• By The Financial District

PSB Earns P879 Million

Listed Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of Php 879 million for the first half of 2021, primarily driven by an increase in fee income, reduction in expenses, and lower provisioning

Photo Insert: PSBank headquarters

Year on year, total assets grew 17% to Php 271.7 billion. Total deposits increased by 24% to Php 220.4 billion with low-cost CASA growing by 9%. With muted consumer loan demand, net interest income slipped by 14% from the same period last year.


This was compensated by an increase in fee income by 26% and a reduction in operating expenses by 5%, resulting in a cost-to-income ratio of 57.3%. Sustained improvement in loan portfolio quality was observed with non-performing loans continuing to be on a downtrend.


Net non-performing loans ratio remained manageable at 4.2%, down from 5.2% of end-2020. PSBank’s capital position remained strong at Php 34.76 billion as of June 2021. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) improved to double the regulatory minimum at 22.1% and 21.1%, respectively.


Banking & finance: Business man in suit and tie working on his laptop and holding his mobile phone in the office located in the financial district.

“While there were signs of recovery especially in the second quarter of 2021, the market still remained volatile and cautious. We are optimistic about the prospects ahead as we see considerable progress in the vaccination rollouts and the heightened adherence to safety protocols. With customer and employee safety as our priority, we are committed to ensure that our contactless service platforms like the Mobile and Online banking are available 24/7, and robust with functionalities that allow them to do their banking transactions at home,” PSBank President Jose Vicente L. Alde said.



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