Core revenues, including interest income and fees, grew by 4 percent to reach P10.52 billion, while operating expenses rose slightly by 4 percent to P6.91 billion.
Loans, assets grew
The bank’s loan portfolio grew by 12 percent to P138 billion, fueled by auto, mortgage, and business loans, while its ratio of unpaid loans improved, dropping to 2.8 percent from 3.4 percent last year.
By the end of September, total assets reached P219 billion, with deposits at P167 billion. Capital funds increased to P43 billion, and both capital adequacy and equity ratios stood well above the minimums set by the Philippine central bank.
Management’s view
"We remain well-positioned to serve the growing needs of our customers as we approach the final stretch of 2024,” PSBank president Jose Vicente Alde said in a statement on Monday.
“PSBank is gearing up for a more favorable interest rate environment which is seen to further boost consumer loan demand,” he added.
