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Philippine Savings Bank , the thrift banking arm of the Metrobank Group, on Monday reported an 18% growth in its first-half net income on the back of strong demand for its consumer loans during the period.PSBank said its net income climbed to P2.56 billion from P2.17 billion a year ago, as net interest income grew by 4% to P6.08 billion while total operating income stood at P7.74 billion. Operating expenses grew by 5% to P4.62 billion.
The lender closed the first half with P220-billion total assets, while total deposits hit P170 billion, and capital stood at P42 billion. Total capital adequacy ratio was recorded at 24.3%.“We are hopeful that the positive performance in the first half will be sustained for the rest of the year,” PSBank president Jose Vicente Alde said in an emailed statement.
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