March 20, 2013

PSBank Sees a 15% Growth in Net Income in 2013

In a PSE disclosure, Philippine Savings Bank (PSBank), the thrift bank of arm of the Metrobank Group, said it projects its net income to reach P2.645 billion by year-end 2013.

This is an increase of 15% from its P2.3 billion audited income in 2012. Loan portfolio is expected to grow by 24% in 2013 with higher auto and mortgage loans.

PSBank has set its sights to opening 6 branches in 2013 giving a total of 227. Meanwhile, its ATM network is seen to grow by 10-20 more ATMs. PSBank currently has 221 branches and 538 ATMs nationwide.

PSBank president Pascual M. Garcia III said he remains confident about the local economy and the continued growth in the consumer sector.