PNB Savings Bank 1st half 2018 net profit up by 50%

PNB Savings Bank (PNBSB), the consumer arm of Philippine National Bank (PNB), posted higher earnings in the first half of 2018 with net income growing by 50% to P348.7 million from P233.0 million earned in the comparable period in 2017. Net interest income registered a 52% year-on-year increase to P1.4 billion as the Bank’s core businesses delivered solid numbers. PNBSB’s loan portfolio rose by 30% to P49.3 billion from yearago level as consumer and business segments showed robust growth amid a growing economy. Even as the lending business showed healthy growth, asset quality remained well-managed with gross non-performing loans (NPLs) of 4.59%, below the 5.25% industry level. By end-June 2018, PNBSB’s total assets reached P56.5 billion, reflecting 27% increase against year-ago level. The growth in asset base was funded by a 33% year-on-year expansion in total deposits to P41.5 billion, fuelled mainly by long-term deposits that match the Bank’s long-term assets. Aside from competitive pricing and unique value-added benefits that come with its deposit products that attract new customers and fresh funds, PNBSB’s recently concluded Deposit Mo Panalo Mo Promo likewise boosted deposit generation. A total of 305 depositors won P5,000 each while 12 others were awarded travel showcase destinations such Kong, Total as El Nido Japan, capital and Singapore, Plantation base stood Hong Bay. at P11.815 billion, up by 2%. The Bank continued to demonstrate financial strength with a Capital Adequacy Ratio of 21.88%, well above the 10% minimum requirement set by the Bangko Sentral ng Pilipinas. From the current 63 branches strategically located nationwide, PNBSB is slated to expand further its network to 72 branches by end of 2018 including its “Branch of the Future” in San Juan and Branch Lites in key areas in Metro Manila. PNBSB’s “Branch of the Future” will showcase the latest digital facilities in a retail bank set-up. The Bank also received various recognitions such as the CMO Asia Philippines Best Brand Awards’ Marketing Campaign of the Year award for its Power Saver Account program; the same program was also named finalist for Excellence in Marketing Innovation in the 2018 PANAta Awards. Other esteemed awards received are Consumer Finance Product of the Year and Service Innovation of the Year awards from Asian Banking and Finance Retail Banking Awards 2018 for its Smart Personal Loan and Smart Home Loan and Auto Loan Plus programs, respectively. The acclaimed products, Power Saver Account and Smart Personal Loan promote financial empowerment while addressing the of bundled the medical Filipino free and value-added families insurance with needs bene- its fits by Medgate such as telemedicine and life and acciden- services tal death insurance coverage by Allianz PNB Life. Meanwhile, the Smart Auto Loan and Home Loan Plus are value-added services extended by PNBSB to its auto loan and home loan clients that promote convenience by taking away various loan-related hassles as PNBSB handles the required paper work upon maturity of auto loans, cancellation of chattel mortgage, cancellation of real-estate mortgage, or payment of annual real property taxes for just a minimal fee. its one progress. ways and business PNBSB’s of providing been the “Our reasons through about move products mission creating for to innovation transform its and has steady value ser- al- is vices evolving beyond that what consumer are is expected relevant needs. from to We the go a financial responsive institution solutions to that provide will benefit the communities we serve” said PNBSB President Hernandez. PNB Savings Bank, as of first half of 2018, ranks 5th in terms of total net worth, 7th in terms of assets, loans and deposits and currently has 63 branches nationwide. To know more about PNB Savings Bank products and services visit www.pnbsavings.com.ph.