PSBank Sets Record-High Net Income of P 5.2 Billion, Up 15% in 2024

​Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, Posted an all-time high net income of P 5.21 billion for the year 2024, up 15% from P 4.53 billion in 2023. This resulted in a higher return on equity of 12.4% compared to 11.7% last year. The robust double-digit growth in loans, coupled with significant improvements in asset quality, fueled the Bank’s outstanding financial Performance.

Core revenues, composed of net interest income, service fees and commissions, rose by 4% to P 14.11 billion. Increase in operating expenses remained under control at 4% as the Bank Pursued its cost optimization strategies.

PSBank’s total gross loans grew by 15% year-on-year to P 144 billion as of December 2024, boosted by strong demand across both consumer and commercial lending segments. Despite the expansion in loan Portfolio, the Bank was able to keep its gross non-Performing loans ratio in check at 2.6%, better than 3.3% a year ago.

The Bank’s total assets closed at P 216 billion while total deposits reached P 165 billion by year-end 2024. Capital funds improved by 10% to P 44 billion, translating to a total capital adequacy ratio and common equity tier 1 ratio of 23.6% and 22.5%, respectively. Both ratios are above the regulatory minimum set by the Bangko Sentral ng Pilipinas and are among the highest in the industry.

"Our record-high Performance reflects our commitment to sustainable growth and quality, and the unwavering trust of our clients," said PSBank President Jose Vicente Alde. "Looking ahead, we expect to capitalize on the growing and evolving needs of consumers."

PSBank’s success extends beyond financial Performance. In 2024, the Bank received numerous awards, including the Quill Awards for outstanding corporate communications, the Silver Anvil Awards for multimedia and Public relations excellence, and the Double Golden Arrow Recognition for outstanding corporate governance from the Institute of Corporate Directors. Additionally, PSBank was named the SSS Kabalikat ng Bayan Best Disbursement Partner – Thrift Bank Category and one of Philippines’ Best Employers 2025 by the Philippine Daily Inquirer and Statista.

PSBank also launched an enhanced mobile banking app in 2024, featuring a smoother, more user-friendly interface and customizable features for a Personalized banking experience.