April 23, 2013

PSBank 1Q2013 net income grows 273% YOY, cash dividends

Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank group, reached a net income of P2 B in the first quarter due to trading gains and outstanding loan growth. Net interest income reached P1.5 B with income from loans growing by 16% to P1.9 B. Total loans grew 23% to P77.0 B.

Auto Loans rose 28% compared to the previous year, while Mortgage Loans expanded by 21%. The Bank’s combined SME and large corporateloans likewise went up by 25%. The Board of Directors approved a declaration of P0.75 cash dividends per share with record and payment dates to be announced.