Wednesday 15 August
Powered by Ajaxy
Aug 9, 2018 @ 15:06

PSBank nets P1.35B as loans up by a tenth


This bank got a big push from increased lending.

The Philippine Savings Bank (PSBank) saw its net profits grow 14.7 percent to reach P1.35 billion during the first half of the year.

The consumer banking unit of bilyonaryo George Ty saw loans grow 10.7 percent to reach P151.62 billion. Deposits also grew nine percent higher to P200.09 billion.

As a result, net interest income reached P5.85 billion.

The bank’s secret was to go digital.

“Our first half performance is a continuous realization of our institutional strategy which focuses on the strength of our brand promise of consistently providing exceptional end{o-end customer experience,” PSBank President Jose Vicente Alde said in a disclosure.

“We have likewise tapped on the latest available digital technology to improve on process efficiencies to bring the cost of operations down while maximizing the full potential of our sales distribution channels in generating more business for the bank.”

Tags: , , , , , , , ,

Related Stories
Bigger loans meant bountiful profits for the Asia United Bank (AUB).
Procter & Gamble announced price hikes on toilet paper, diapers and some other staples on
Major Japanese carriers All Nippon Airways (ANA) and Japan Airlines (JAL) on Tuesday reported sluggish
Netflix shares plunged Monday after the leading streaming television service said subscriber growth fell short


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.