Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, listed on Monday P5 billion worth of fixed-rate bonds on the Philippine Dealing & Exchange Corp. (PDEx).
PSBank said the orders exceeded six times the base offer size of P2 billion, which prompted the lender to cut the offer period. The offer period was originally from Aug. 4 to 8, but was cut to Aug. 5.
The bonds have a two-year term and carry a fixed interest rate of 5.8750 percent per annum, with interest payable quarterly.
This marks the third tranche under the bank’s P40 billion bond program, following a P6.3-billion issuance in July 2019 and P4.65 billion in February 2020.
Proceeds from the bond issuance will be used to support PSBank’s expansion plans and to further diversify its funding sources.
“[This milestone] is a testament to our ability to adapt, grow, and lead in a competitive banking landscape. Thank you to everyone who has supported us on this journey. We are excited about what the future holds and look forward to many more years of success and service excellence,” said Francis Llanera, branch banking and operations group head of PSBank.
First Metro Investment Corp. (First Metro) and ING Bank N.V., Manila Branch (ING) served as joint lead arrangers. PSBank, First Metro, ING and Metropolitan Bank & Trust Company acted as selling agents.
PSBank registered a net income of P 2.16 billion in the first half of 2025 on steady growth of its core businesses and continuous efforts to reduce operational costs.
Core revenues, consisting of net interest income and service fees and commissions, rose 7 percent year-on-year to P 7.47 billion, while operating expenses decreased by 2 percent to P 4.54 billion.
The bank maintained its issuer credit rating of PRS Aaa (corp.), with a stable outlook, from Philippine Rating Services Corporation (PhilRatings) in July 2025.
