By James A. Loyola
Philippine Savings Bank (PSBank), the thrift‐bank arm of the Metrobank Group, saw its net income inch up by 1 percent to P1.88 billion in the first nine months of 2017 from P1.87 billion in the same period last year.
In a disclosure to the Philippine Stock Exchange, the bank said this improvement was propelled by a 17 percent year‐on‐year core income growth. The Bank’s earnings translated to a return‐on‐equity of 11.94 percent and return‐on‐assets of 1.20 percent.
PSBank continued to show strong financial results supported by a steady demand for consumer loans in the nine months ending September.
The Bank’s gross loan portfolio expanded by 14 percent to P142.33 billion, mainly driven by consumer loans which climbed by 15 percent.
As PSBank saw its lending portfolio grow, its non‐performing loans (NPL) ratio remained in check at 1.14 percent.
Total deposits increased by 28 percent to P184.40 billion, with current accounts and savings accounts rising by 19 percent.
PSBank’s capital position remained strong, improving by 6 percent to P21.91 billion. This translated to a common equity Tier 1 (CET 1) ratio of 11.36 percent and total capital adequacy ratio (CAR) of 14.19 percent, well‐above the Bangko Sentral’s minimum requirement.