The thrift banking arm of the Metrobank Group, said it posted an all-time high net income of P5.21 billion in 2024, up 15 percent from P4.53 billion in 2023.
This resulted in a higher return on equity of 12.4 percent in 2024compared to 11.7 percent in 2023. The robust double-digit growth in loans, coupled with significant improvements in asset quality, fueled the bank’s outstanding financial performance.
Core revenues, composed of net interest income, service fees and commissions, rose 4 percent to P14.11 billion. Increase in operating expenses remained under control at 4 percent as the bank pursued its cost optimization strategies.
PSBank’s total gross loans grew 15 percent year-on-year to P144 billion as of December 2024, boosted by strong demand across both consumer and commercial lending segments. Despite the expansion in loan portfolio, the bank said it kepts its gross non-performing loans ratio in check at 2.6 percent, better than 3.3 percent a year ago.
The bank’s total assets closed at P216 billion as total deposits reached P165 billion as of end-2024. Capital funds improved by 10 percent to P44 billion, translating into a total capital adequacy ratio and common equity tier 1 ratio of 23.6 percent and 22.5 percent, respectively.
Both ratios are above the regulatory minimum set by the Bangko Sentral ng Pilipinas and are among the highest in the industry.
“Our record-high performance reflects our commitment to sustainable growth and quality, and 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,” he said.