PHILIPPINE Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, on Monday listed P5 billion worth of fixed-rate bonds on the Philippine Dealing and Exchange Corp. (PDEx).
PHILIPPINE Savings Bank , the thrift banking arm of the Metrobank Group, on Monday listed P5 billion worth of fixed-rate bonds on the Philippine Dealing and Exchange Corp. .The offering was the third tranche of a P40-billion bond program. The two-year bonds carry a fixed annual interest rate of 5.875 percent, payable quarterly.PSBank said strong investor demand led to orders exceeding six times the base offer, prompting the bank to close the offer period on Aug.
16 billion in the first half, supported by strong loan growth and cost efficiency measures.The bank’s loan portfolio expanded by 16 percent year on year to P153 billion as of June, buoyed by steady demand from consumer, and small and medium enterprises borrowers.Core revenues rose 7 percent to P7.47 billion while operating expenses fell 2 percent to P4.54 billion, bringing pre-provision operating profit up 6 percent to P3.35 billion.PSBank maintained its gross nonperforming loan ratio at 3.
Lists P5 Billion In Fixed-Rate Bonds For Expansion Plans
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