PSBank hits all-time high net income of $89.97m on higher loans

Total gross loans rose 15% due to strong demand.

The Philippine Savings Bank (PSBank) has posted an all-time high net income of approximately $89.97m (PHP5.21b) for 2024, a 15% year-on-year (YoY) rise from a year earlier.

PSBank is the thrift banking arm of the Metrobank Group, a Philippine-based bank.

The Philippine-based bank saw double-digit loan growth in 2024, coupled with “significant” improvements in its asset quality.

Return on equity (ROE) rose 12.4% in 2024, compared to 11.7% a year earlier.

Total gross loans grew 15% YoY to $2.49b (PHP144b) as of December 2024. PSBank said that loans were boosted by “strong demand across both consumer and commercial lending segments.”

Total assets are at $3.73b (PHP216b), with total deposits reaching $2.85b (PHP165b).