PSBank scores top grade from PH-based credit rater
Philippine Savings Bank (PSBank) is at the top of its game, according to this homegrown debt watcher.
The Philippine Rating Services Corporation (PhilRatings) gave the highest score of PRS Aaa (corp.) to PSBank, which is the thrift bank arm of bilyonaryo George S.K. Ty’s Metrobank Group.
PSBank said in a disclosure that the rating given by the credit agency is the highest which can be given under the bnak’s category, signaling the company’s ability to pay all of its financial commitments over a one-year time horizon.
Supporting PSBank’s strong outlook is its solid market position, continued loan growth, and an increasing consumer lending segment in the country.
“PSBank is considered a significant player in the domestic consumer market, with bulk of its loans portfolio represented by consumer loans. PSBank believes that its auto loan portfolio, which had the largest share of the bank’s consumer loans as of end-2016, still has ample room for growth, taking into account the bank’s current share of the auto loans market,” PhilRatings said, adding that the bank is the second-largest in the industry.
Overall, PSBank is seen to stand rock solid.