Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of P1.26 billion for the first nine months of 2021, driven by increase in non-interest income, prudent management of expenses, and improvement in loan loss provisions.
Total assets expanded by 21 percent to P258.75 billion as the bank continued to grow its deposit base by 32 percent to P213.51 billion. Low-cost CASA increased by 10 percent. As consumer loan demand remains slow, net interest income decreased by 11 percent compared to the same period last year. This was offset by an increase in non-interest income net of trading gains by 71 percent and reduction in operating expenses by 3 percent.