PSBank net income jumps in first 9 months of 2023 | ABS-CBN
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PSBank net income jumps in first 9 months of 2023
ABS-CBN News
Published Nov 06, 2023 02:49 PM PHT
MANILA -- PSBank's net income grew 18 percent to P3.37 billion in the first 9 months of 2023, the lender said Monday.
MANILA -- PSBank's net income grew 18 percent to P3.37 billion in the first 9 months of 2023, the lender said Monday.
The thrift banking arm of the Metrobank Group attributed the growth to the continuous expansion of its core businesses, mainly from growth in its auto loan portfolio.
The thrift banking arm of the Metrobank Group attributed the growth to the continuous expansion of its core businesses, mainly from growth in its auto loan portfolio.
The bank said auto loans climbed by 24 percent, making the overall loan portfolio expand by 12 percent to P123 billion.
The bank said auto loans climbed by 24 percent, making the overall loan portfolio expand by 12 percent to P123 billion.
The lender noted that net interest income rose to P8.82 billion, while revenues from net service fees and commissions went up to P1.33 billion.
The lender noted that net interest income rose to P8.82 billion, while revenues from net service fees and commissions went up to P1.33 billion.
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Operating expenses, meanwhile, were reduced by 1 percent.
Operating expenses, meanwhile, were reduced by 1 percent.
Total assets stood at P236 billion, while total deposits reached P188 billion from January to September.
Total assets stood at P236 billion, while total deposits reached P188 billion from January to September.
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PSBank's net income grew 18 percent to P2.17 billion in the first 6 months of 2023.
PSBank's net income grew 18 percent to P2.17 billion in the first 6 months of 2023.
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