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 endSeptember 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. •