In a statement on March 3, 2025, Philippine Savings Bank (PSBank) — the country’s largest thrift bank by assets — said this strong performance pushed its return on equity to 12.4 percent, up from 11.7 percent in 2023.
The growth was driven by a 15-percent expansion in total loans to P144 billion, supported by strong demand across consumer and commercial lending segments.
Despite the loan portfolio increase, PSBank improved its asset quality, lowering its gross non-performing loan ratio to 2.6 percent from 3.3 percent a year earlier.
Core revenues, which include net interest income, service fees, and commissions, rose by 4 percent to P14.11 billion, while operating expenses were kept under control with a 4-percent increase, reflecting the bank’s focus on cost optimization.
By the end of 2024, PSBank’s total assets reached P216 billion, while deposits grew to P165 billion.
Capital funds expanded 10 percent to P44 billion, translating to a total capital adequacy ratio of 23.6 percent and a common equity tier 1 ratio of 22.5 percent, both exceeding regulatory requirements.
“Our record-high performance reflects our commitment to sustainable growth and quality, as well as the unwavering trust of our clients,” said PSBank president Jose Vicente Alde. “Looking ahead, we expect to capitalize on the growing and evolving needs of consumers.”
PSBank also received multiple industry accolades in 2024, including recognition for corporate governance, communications excellence, and digital banking innovation. The bank launched an enhanced mobile banking app, offering a more user-friendly interface and personalized features to improve the customer experience.
