PSBank net income grows 18 pct in first half of 2023 | ABS-CBN
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PSBank net income grows 18 pct in first half of 2023
PSBank net income grows 18 pct in first half of 2023
ABS-CBN News
Published Aug 07, 2023 11:20 AM PHT
MANILA -- PSBank's net income grew 18 percent to P2.17 billion in the first 6 months of 2023, the lender said Monday.
MANILA -- PSBank's net income grew 18 percent to P2.17 billion in the first 6 months of 2023, the lender said Monday.
The thrift banking arm of the Metrobank Group attributed the growth to an uptick in consumer loans, improvement in credit quality, and gains from productivity and efficiency initiatives.
The thrift banking arm of the Metrobank Group attributed the growth to an uptick in consumer loans, improvement in credit quality, and gains from productivity and efficiency initiatives.
The lender noted that net interest income from loans and investments
grew by 8 percent to Php 6.8 billion.
The lender noted that net interest income from loans and investments
grew by 8 percent to Php 6.8 billion.
Operating expenses, meanwhile, were reduced by 2 percent.
Operating expenses, meanwhile, were reduced by 2 percent.
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PSBank said loans increased by 9 percent in June 2023 to P120 billion on the back of an increase in car loans.
PSBank said loans increased by 9 percent in June 2023 to P120 billion on the back of an increase in car loans.
Total assets stood at P235 billion, while total deposits reached P187 billion by mid-2023.
Total assets stood at P235 billion, while total deposits reached P187 billion by mid-2023.
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