PSBank income flat at end-Sept.
PHILIPPINE SAVINGS Bank (PSBank) booked a slightly higher net income in the first nine months, driven by the growth of its core businesses.
In a statement released to the Philippine Stock Exchange on Tuesday, PSBank said its net income inched up to P1.88 billion at end-September from the P1.87 billion booked in the same period last year.
The thrift banking arm of Metropolitan Bank and Trust Co. said the slight rise in its nine-month income was propelled by a 17% increase in the lender’s core income year on year.
PSBank said its earnings for the period translated to a return on equity, or net income as a percentage of stockholder investment, of 11.94%, while return on assets, or net income as a percentage of total assets, was at 1.2%.
The bank’s gross loan portfolio grew by 17% to P142.33 billion on the back of an expansion in its consumer loans, which climbed 15%.
“As PSBank saw its lending portfolio grow, its non-performing loans ratio remained in check at 1.14%,” it said.
Meanwhile, the lender’s total deposits also expanded by 28% to P184.4 billion as its current and savings accounts rose by 19%.
PSBank said its capital position rose 6% to P21.91 billion.
The lender’s total capital adequacy ratio was at 14.19%, while its common equity Tier 1 ratio stood at 11.36%, both well above the regulatory minimum.
Shares in PSBank closed at P90 apiece on Monday, up by P1 or 1.12% from Monday’s finish of P89 each. — K.A.N. Vidal
