This growth was fueled by a 2 percent rise in core revenues to P3.49 billion, driven by robust demand in auto loans which grew by 20 percent, significantly boosting the bank's gross loan portfolio to P128 billion.
Despite an increase in operating expenses by 5 percent to P2.30 billion, the bank maintained a healthy gross non-performing loans (NPL) ratio at 3.4 percent,, leading to reduced provisions.
PSBank ended the quarter with a total capital adequacy ratio of 24.6 percent and common equity tier 1 ratio was at 23.5 percent, above the minimum requirements set by the Bangko Sentral ng Pilipinas.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
