PSBank, the thrift banking arm of the Metrobank Group, posted an 18-percent increase in first-half net income to P2.17 billion from P1.84 billion in the same period last year.
PSBank president Jose Vicente Alde said the bank benefitted from the continued expansion of the economy and the sustained growth in consumer demand through its re-calibrated strategies and focus on enhanced customer experience.
“We are hopeful, despite the external headwinds, that this can be sustained for the rest of the year,” Alde said.
The first-half performance translated into a higher return on equity of 11.4 percent from 10.4 percent a year earlier. The continuing uptrend in the bank’s consumer loan releases, improvement in credit quality and gains realized from productivity and efficiency initiatives further strengthened the bank’s platform for sustainable earnings in the post-pandemic era.