PSBank’s NPL ratio improves reaching 9 months profit to P1.3 billion


Philippine Savings Bank (PSBank) has managed to bring down its non-performing loan (NPL) ratio to 3.9 percent in end- September from 5.2 percent in end-2020.

PSBank president Jose Vicente Alde said the bank’s credit provisions fell by 91 percent to P2.77 billion from January to September compared to P5.3 billion in the same period last year.

“With less COVID-19 cases registered daily and the speed at which vaccination is rolled out, we should see more businesses opening up and consumer demand improving. In the past year, we have seen how the operating environment changed,” Alde said.

The country’s second largest thrift bank in terms of assets booked a net income of P1.26 billion during the nine-month period, slightly lower than the P1.33 billion booked in the same period last year.

As consumer loan demand remains slow, net interest income decreased by 11 percent, while non-interest earnings excluding trading gains jumped by 71 percent.

PSBank’s operating expenses slipped by three percent from January to September.

“PSBank is taking steps ahead. We have been recalibrating our infrastructure and business models to ensure that we are more than equipped to take on the opportunities of a new business environment,” Alde said.

Last September, the bank launched its Online Account Onboarding facility which allows customers to open a savings and prepaid account without the need to go to the branch.

The process of account opening is completed seamlessly end-to-end via the PSBank Mobile App. Clients who prefer to have ATM cards can have them delivered at their doorstep.


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