PSBank Doubles Net Income to PhP1.84 billion for 1st Half of 2022

Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported a PhP1.84 billion Net Income for the first half of 2022, a year-on-year growth of 109% versus PhP0.88 billion in 1H2021. The rise in profit was propelled by continuous improvement in loan portfolio quality, expansion of revenues from other operating income, and controlled operating expense.

Net interest income reached PhP5.45 billion while net service fees and commissions grew by 13%. A strong revenue growth of 101% in other non-interest income lines was likewise achieved. These were driven by increased business activities from the opening-up of the economy, and further relaxation of mobility restrictions. Growth in operating expenses remained under control at 3% year-on-year as the Bank continues its productivity and operational efficiency initiatives.

Gross Non-Performing Loans contracted by almost half since 1H2021 thus reducing credit provisions to PhP625 million from PhP2.17 billion a year ago. Net Non-Performing loans ratio was at 1.96%, better than pre-pandemic levels.

PSBank’s total assets stood at PhP268 billion as of end-June 2022. Total deposits were stable at PhP220 billion with low cost deposits growing by 10% year-on- year. Capital improved by 4% to PhP36.06 billion. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio remained strong at 24.6% and 23.5%, respectively; both of which are way above the regulatory requirement of the Bangko Sentral ng Pilipinas (BSP).

“We observed a significant increase in consumer lending activity during the first semester of 2022. The Bank remains optimistic that this can be sustained for the remainder of the year despite ongoing geopolitical events and other external factors. We will continue to be proactive in our strategy to adapt to the changing market conditions with our focus on productivity, operational discipline, innovation and customer experience. As the economy grows, we expect increased business opportunities; and the Bank is well-prepared to provide the banking needs of consumers,” PSBank President Jose Vicente L. Alde said.

In June 2022, PSBank and Toyota Philippines launched the “Say Hi to Hybrid Auto Loan” promo. The offering aims to help pave the way for sustainability by making it easy and affordable to own a Toyota Hybrid Electric Vehicle through PSBank with lower rates and free one-year comprehensive auto insurance. This special offer is available in any PSBank branch or through the Bank’s online auto loan application facility. The Bank will also soon make available in its PSBank Mobile App the QRPh Pay-to-Merchant functionality which aims to further promote cashless payments at various merchant establishments nationwide.


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PSBank and Toyota launch Say Hi To Hybrid Auto Loan promo, offer LOWER RATES and FREE CAR INSURANCE for eco-friendly HEVs

PSBank and Toyota launch Say Hi To Hybrid Auto Loan promo,  offer LOWER RATES and FREE CAR INSURANCE for eco-friendly HEVs

Philippine Savings Bank (PSBank) and Toyota Motor Philippines (TMP) team up for “Say Hi To Hybrid Auto Loan” promo, an offering that aims to help pave the way for sustainability by making Hybrid Electric Vehicles (HEVs) more accessible to Filipinos.

HEVs are eco-friendly cars that are fuel efficient, have a self-charging battery, and are easy to maintain, making them the more sustainable option for the environment and for the budget.  Topnotch examples of HEVs include Toyota’s Corolla Cross 1.8V Hybrid and Corolla Altis 1.8V Hybrid CVT, both supported by the Say Hi To Hybrid Auto Loan Promo.

PSBank and TMP’s promo offering includes FREE 1- YEAR COMPREHENSIVE CAR INSURANCE and LOWER RATES when availing any of the two Toyota HEVs through PSBank Auto Loan. This special offer will run from June 1 to August 31, 2022.

“Many people are now shifting to a more sustainable lifestyle and we at PSBank want to further empower them by making owning a Toyota HEV easy and affordable through our Auto Loan facility, special rates, and free one-year insurance. Together with Toyota, we serve two purposes: giving an excellent deal and doing our share in saving the environment,” said PSBank Senior Vice President and Marketing Division head Emmanuel A. Tuazon.


"Partnering with PSBank to make HEVs more accessible to Filipinos is an exciting feat for us at Toyota. With the special offer, we hope to encourage more people to live a more sustainable lifestyle on the road, one hybrid ride at a time," said Toyota Motor Philippines First Vice President for Marketing Division Sherwin Chua-Lim.

For individuals wanting to live an eco-conscious life on the road and avail the Say Hi To Hybrid Auto Loan promo, they can apply through the PSBank website’s online loan application facility or go to the nearest PSBank branch. After accomplishing and submitting the application form online or through PSBank branch, clients will receive a credit decision within 24 hours. For more information about the promo or PSBank Auto Loan, follow facebook.com/psbankofficial, go to the nearest PSBank branch, or LiveChat with us. 

Click here for the promo mechanics.


A strong start in 2022: PSBank 1Q net income up 102%

PSBank Head Office Building
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a Php888 million net income for the 1st quarter of 2022, up 102% year-on-year. The surge in net income was driven by revenues from other operating income and improved asset quality.

The Bank's net interest income reached Php2.7 billion while service fees and commissions rose by 14% as loan demand expanded when quarantine restrictions were loosened. Non-interest income also went up by 190% resulting from increased business activities. This was offset by an uptick of 6% in operating expenses due to higher volume albeit being kept in check through continuous improvements in productivity and operational efficiency.

The Bank’s asset quality further improved resulting to the reduction in credit provisioning by 68% to Php346 million from Php1.1 billion a year ago. Gross non-performing loans is back to pre-pandemic levels, posting a decline of 30% from the same period last year.

The Bank’s balance sheet became stronger. Total assets grew 16% to Php263 billion year-on-year. Total deposits jumped by 24% to Php217 billion with low-cost checking and savings deposits increasing by 9%. Capital position improved by 2% to Php35 billion as of first quarter-end 2022. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio improved to 24.5% and 23.4%, respectively. Both ratios remain above the regulatory minimum.

“Our recalibrated business models to include data-driven approaches to credit and collection continue to serve us well as we ride on the momentum of improving consumer confidence which began with the opening up of the economy by end-2021. With our strategies firmly in place, we see our growth and strong financial performance to be sustainable even as there may be potential volatility brought by adverse offshore developments,” PSBank President Jose Vicente L. Alde said.

Despite challenges in the market primarily caused by the health crisis, PSBank has maintained its Issuer Credit Rating of PRS Aaa (corp.) with a Stable Outlook from the Philippine Rating Services Corporation (PhilRatings). Such rating reflects the company’s very strong capacity to meet financial commitments relative to other Philippine corporates; and seen to be unchanged in the next 12 months.




PSBank Keeps Highest Credit Rating

PSBank building

Philippine Saving Bank (PSBank), the consumer and retail bank arm of the Metrobank Group, kept its Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, from the Philippine Rating Services Corporation (PhilRatings).

A company rated PRS Aaa (corp.) has a very strong capacity to meet its financial commitments relative to that of other Philippine corporates. PRS Aaa (corp.) is the highest Issuer Credit Rating assigned by PhilRatings.

A Stable Outlook, on the other hand, is assigned when a rating is likely to be maintained or to remain unchanged in the next 12 months.

The ratings reflect PSBank’s strong market position, sound capitalization and prudent loan provisioning, strong Parent and highly-experienced management team.

PhilRatings’ ratings are based on available information and projections at the time that the rating review was performed. PhilRatings shall continuously monitor developments in relation to PSBank and may change the rating and Outlook at any time, should circumstances warrant a change.

Based on data from the Bangko Sentral ng Pilipinas (BSP), PSBank was the country’s second largest thrift bank, as of December 31, 2021. PSBank ended the year with total assets of Php260.8 billion. The bank likewise ranked second in terms of deposits (Php216.8 billion) and net loans (Php111.5 billion), and ranked first in terms of capital (Php33.5 billion). The bank is a significant player in the consumer banking sector. According to PSBank, it accounted for 44% and 21% share of the thrift banking sector’s auto loans and residential real estate loans, respectively as of end-2021.

PSBank has maintained a healthy capitalization. Capital Adequacy Ratio (CAR) stood at 24.3% as of end-December 2021, up from 19.4% in 2020, and exceeding the regulatory minimum.

As Gross Non-Performing Loans (NPL) ratio grew to 6.7% in 2020, from 3.6% in 2019, PSBank was proactive in its provisioning given the potential credit risks brought by the pandemic. Provision for impairment and credit losses expanded by 189% in 2020. Gradual recovery from the effects of the pandemic resulted in improved asset quality for 2021. Gross NPL declined by 29% from the previous year while the Gross NPL ratio improved to 6.1%. Following better asset quality, PSBank reduced its provision for impairment and credit losses by 52% in 2021.

Metropolitan Bank and Trust Company (Metrobank) is the major shareholder of PSBank, with equity stake of 88.4%, as of December 31, 2021. Metrobank is a BSP-licensed universal bank, and was the Philippines’ third largest bank based on assets of Php2.2 trillion, as of December 31, 2021. It similarly ranked third based on loans (Php1.1 trillion), fourth in terms of deposits (Php1.7 trillion), and second in terms of capital (Php306.8 billion).

The management team, led by Jose Vicente Alde as President, is considered as highly-experienced banking professionals. Mr. Alde’s solid background on Information Technology is seen as significant, given the banking industry’s strong push for digitalization in response to the pandemic. 


PSBank net income up 39% in 2021

PSBank building
Philippine Savings Bank (PSBank) closed the year 2021 with a net income of Php 1.5 billion, higher by 39% from previous year. The strong income performance was on the back of the increase in fee income by 22%, operating efficiencies which saw expenses decline by 3%, and the reduction in loan loss provisions owing largely to improved asset quality and effective collection efforts. Net non-performing loans ratio significantly dropped to 3.4% from 5.2% in 2020.


Total deposits grew 29% to Php 216.80 billion from Php 167.46 billion. Year-on-year, the Bank saw loan applications increasing. As the economy opened up and pandemic alert levels downgraded, consumer loan demand started to pick up in the second half of 2021.

“Our financial performance in 2021 is a testament of the strength of the Bank’s balance sheet, and the agility of the organization to quickly adapt to volatile market conditions. Our early and proactive efforts to adjust our strategies and operations allowed us to be at the forefront of opportunities as they unfold,”  PSBank President Jose Vicente L. Alde said.

Total assets closed higher by 19% to Php 261.81 billion from Php 219.41 billion a year ago. PSBank’s capital position was strong at Php 34.89 billion. Total Capital Adequacy and Common Equity Tier 1 (CET1) Ratios improved significantly to 24.3% and 23.2% respectively, both above the statutory requirement set by the Bangko Sentral ng Pilipinas (BSP).

The Bank was also recognized as one of BSP’s Outstanding Stakeholders for being an exemplary partner in promoting its advocacies. In the same year, the Institute of Corporate Directors (ICD) bestowed the Golden Arrow Award to PSBank for its commitment to good corporate governance.

In 2021, the Bank made available an Account Onboarding Facility through the PSBank Mobile App which allows new-to-bank clients to seamlessly open a savings or prepaid account without the need to go to any of its branches. Customers can now also reload their Tollway RFIDs via the PSBank Online and Mobile App, as well as pay their PSBank Loans in all 7-Eleven outlets.  The reliability and exceptional user experience provided by its digital platforms saw mobile and online transactions nearly quadruple in the last two years.

“The last two years of the pandemic have highlighted the importance of organizational flexibility. PSBank was able to harness the skills of its people and switch resources to business operations which need more attention, has higher demand or present new opportunities.  Our digital transformation roadmap launched earlier than the pandemic allowed us to stay ahead of our customers’ requirements for non-contact banking. Relevant customer experience has remained at the center of what we do – true to the Bank’s core value of “Simple at Maaasahan,” President Alde added.


PSBank helps provide a brighter future to underprivileged children through its CSR partners

Philippine Savings Bank (PSBank) renews support for the welfare of visually impaired, indigent and special children through the Bank’s annual donation to its corporate social responsibility (CSR) partners -- World Vision, Chosen Children Village Foundation, Inc. (CCVFI), and Resources for the Blind, Inc. (RBI).

Photo courtesy of Chosen Children Village Foundation, Inc.

Photo courtesy of Chosen Children Village Foundation, Inc.

 

PSBank donated a total of PhP300,000 to aid these three child-friendly organizations in providing shelter, basic necessities, education, and other special needs for the underprivileged children under their care.

World Vision commits in using the financial assistance to continue their programs for the welfare of underserved Filipino families. The organization spearheads community development initiatives and helps parents find a source of livelihood to better support their kids. They also provide emergency assistance to those affected by natural disasters.

“As the largest non-profit organization in the Philippines, World Vision helps over 1.5 million children every year.  With the support of thousands of Filipino sponsors and donors such as PSBank, the children, along with their families, were able to build a sustainable life in all of its fullness,” said World Vision Donor Care and Development manager Precious Hope Basco.

The Bank’s other partner, Chosen Children Village Foundation, provides abandoned children with mental and physical handicaps a caring and loving home. They also train the children as they grow to adulthood to become productive and self-reliant members of the society despite their disabilities.  To date, there are over 80 children who are being rehabilitated and cared for in their facility in Silang, Cavite.

CCVFI  Executive Director Adrian Mendoza expressed his gratitude to the bank in his remark: “Your generosity and love enable us to continue living with our mission of providing a haven for these angels and creating programs to maximize their potential and quality of life despite their mental, physical, and social difficulties.”

Meanwhile, PSBank’s donation to the Resources for the Blind was intended to help realize the organization’s mission in helping blind Filipinos reach their full potential through counseling, education and training, and rehabilitation programs. RBI also aims to transform the children’s lives into becoming an integral part of society by teaching them basic functions like chores in the home and other daily activities.

“With the untiring support and generosity of our corporate partners like PSBank, we equipped the children with the means to go to school and access the education system, thus giving them a chance for a brighter future,” said RBI Executive Director Amelia M. Torrente.




Do More While Staying at Home with the All-New PSBank Online!


PSBank reports net income of Php 1.26 billion in first 9 months of 2021

PSBank reports net income of Php 1.26 billion in first 9 months of 2021

Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of Php 1.26 billion for the first nine months of 2021, driven by increase in non-interest income, prudent management of expenses, and improvement in loan loss provisions.

Total assets expanded by 21% to Php258.75 billion as the Bank continued to grow its deposit base by 32% to Php213.51 billion. Low-cost CASA increased by 10%. As consumer loan demand remains slow, net interest income decreased by 11% compared to the same period last year. This was offset by an increase in non-interest income net of trading gains by 71% and reduction in operating expenses by 3%. The Bank booked credit provisions of Php2.77 billion, aligned with the industry-wide reduction in loan losses, as net non-performing loans improved to 3.9% from 5.2% as of end-2020.

PSBank’s capital remained formidable at Php 34.88 billion as of end-September 2021. Capital ratios were more than double the regulatory minimum with Capital Adequacy Ratio of 23.2% and Common Equity Tier 1 Ratio (CET1) of 22.1%.

“With less COVID-19 cases registered daily and the speed at which vaccination is rolled-out, we should see more businesses opening up and consumer demand improving. In the past year, we have seen how the operating environment changed. PSBank is taking steps ahead. We have been recalibrating our infrastructure and business models to ensure that we are more than equipped to take on the opportunities of a new business environment,“ PSBank President Jose Vicente L. Alde said.

In September 2021, the Bank launched its Online Account Onboarding facility which allows customers to open a savings and prepaid account without the need to go to the branch. The process of account opening is completed seamlessly end-to-end via the PSBank Mobile App. Clients who prefer to have ATM cards can have them delivered at their doorstep. The new feature was launched in social media under the “Stay Safe: Tap, Tap, Tapos Agad” campaign.

“While we are one with the industry in strengthening digital banking capabilities, the priority has always been the safety of our customers and employees. We have pursued making our Mobile and Online Banking platforms robust and packed with relevant functionalities to enable customers to do most if not all of their banking transactions without going to a branch,” President Alde added.


Good to Know: 5 Reasons Why This Mobile Banking App is a Must-Have

Not too long ago, the only way to get hold of a savings account was to physically visit a bank. Today, with lots of technological advancement, opening a savings account with just a couple of clicks on your mobile device is fast becoming the new norm.

Leading the change on this front is PSBank, which recently launched the Online Account Opening feature of its mobile banking app. The bank’s primary reason for this feature is simple -- to make banking hassle-free and safe for Filipinos by bringing the first step of digital banking right at their fingertips.
https://www.psbank.com.ph/other-products-and-services/other-products-and-services/product-lists/psbank-online-account-opening/?utm_source=PR&utm_medium=seeding&utm_id=onboarding

In choosing a banking app, here are 5 reasons why the PSBank Mobile is a must-have:

ADVANCED/CUTTING-EDGE FEATURES. Suffice it to say, times have changed. With online banking, you get to do a variety of financial transactions while at the safety of your home. What’s cool about the PSBank Mobile app is you can now open a peso savings or prepaid account via the app with just one valid ID and a selfie. It also offers a wealth of built-in money management features and powerful functionalities which lets you do your banking requirements such as pay bills, transfer funds using account number or QR code, monitor your accounts in real-time, P2P payment using PayMe, grow your money through time deposit placement, apply for a loan, even deposit checks 24/7 and a lot more in between watching your favorite shows on Netflix or while sipping a cup of coffee at home.
Reasons why this mobile app is a must-have
CONVENIENCE. Let’s face it—who has time to wait in line and accomplish transactions within limited banking hours? There’s a lot you can do with the time you’ll spend visiting a bank. The simple, intuitive design and navigation of the PSBank Mobile app allows you to complete banking tasks with just a few taps on your smartphone and the app wherever you are, whenever you want. Yup, that’s as quick and easy as it gets.

SECURITY. With the rise in cyber fraud and financial scams, you would definitely need assurance that your hard-earned savings or accounts are secure. What’s great about the PSBank Mobile app is you can securely log in to the app using either face or fingerprint ID and transactions are authenticated by an OTP (One-Time Password) sent to your registered mobile phone.  Moreover, the app has an ATM Lock feature which allows you to lock/unlock your ATM card account/s to prevent it from unauthorized use.   

CONTROL. Nothing beats being able to access, manage, and move money as you see fit – from anywhere at any time. In addition to being able to perform banking tasks, you can also schedule transactions with the all-around PSBank Mobile banking app so you will not fall behind on your bills, forget to send money or reload your mobile phones. It also has and allows you to manage alert notifications for things like loan due date, withdrawal and other debits, and account balances. 

24/7 ACCESS TO CUSTOMER SERVICE. Well-designed mobile banking apps make it clear how to get help fast. Assistance via the PSBank Mobile app come with a simple tap and in the form of LiveChat, phone, email or filling out an online form.

The PSBank Mobile banking app truly is packed with powerful functionalities and more. It’s one of the most complete, reliable, and user-friendly banking apps in the market today.

“Our commitment to innovation, convenience, and safety is what drives us to keep adding new features in our mobile banking app that we know would be of great help to Filipinos who live in an ever-increasing digital world. And we’re just getting started. There’s so much more to look forward to in the coming months,” said Noel Tuazon, PSBank Senior Vice President & Marketing Group Head.

Download the PSBank app from Apple Store or Google Play Store today.

Apple StoreGoogle Play


PSBank makes banking safer with new online account opening via its Mobile App!

Philippine Savings Bank (PSBank) made banking simpler and safer with its new digital offering -- allowing Filipinos to open a PSBank peso savings account via its Mobile App.  With just one (1) valid ID, a selfie, and with literally just a few taps, tapos agad!

What used to require at least a visit to the bank is now replaced by an online account opening service through one’s smartphone and the PSBank Mobile App.

The app allows customers to enjoy hassle-free, safe banking and easily and conveniently do tasks such as bills payment, fund transfers, mobile check deposits, time deposit placements, toll RFID and telco reload, loan application, and now account opening in the comfort of their homes. 
PSBank Online Account Opening


“Our customers’ safety is our number one priority. This is the reason why we continuously strengthen our digital infrastructure so that Filipinos can do their banking transactions whenever they want and wherever they are. Supplementing today’s consumer lifestyle, this new feature allows customers to do more despite staying indoors,” shares PSBank Senior Vice President for Marketing Noel Tuazon.

PSBank’s online account opening service completes the bank’s suite of digital services, designed to keep in step with its customers’ ever-evolving needs. The PSBank Mobile App offers a well-rounded and best-in-class user experience, from real-time account management to savings growth and security.

Meanwhile, customers may open a maximum of two (2) accounts online. New customers may also request a PSBank Debit or Prepaid Mastercard for their newly opened deposit account and have it ready for pick up at any PSBank branch or delivered to their registered mailing address.


Innovation for safety

Aside from convenience and security, innovation for consumer safety drives PSBank’s mission to upgrade and develop its products and services.


“Our clients can attest that we constantly innovate to make banking simpler and so much easier. We are the first lender to introduce Cardless Withdrawal, the ATM Lock feature, Mobile Check Deposit, among other things,” Tuazon notes. “This time, innovation becomes our tool in helping Filipinos safeguard their health. Trust that we will keep on harnessing digital technologies and continue to upgrade our industry-leading product and service offerings for our customers,” he adds.

Click here to know more about PSBank Online Account Opening. 


PSBank ends 1H2021 with Php879 million net income

PSBank Head Office building
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of Php 879 million for the first half of 2021, primarily driven by an increase in fee income, reduction in expenses, and lower provisioning.

Year-on-year, total assets grew 17% to Php 271.7 billion. Total deposits increased by 24% to Php 220.4 billion with low-cost CASA growing by 9%. With muted consumer loan demand, net interest income slipped by 14% from the same period last year. This was compensated by an increase in fee income by 26% and a reduction in operating expenses by 5%, resulting in a cost-to-income ratio of 57.3%. Sustained improvement in loan portfolio quality was observed with non-performing loans continuing to be on a downtrend. Net non-performing loans ratio remained manageable at 4.2%, down from 5.2% of end-2020.

PSBank’s capital position remained strong at Php 34.76 billion as of June 2021. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) improved to double the regulatory minimum at 22.1% and 21.1%, respectively.

“While there were signs of recovery especially in the second quarter of 2021, the market still remained volatile and cautious. We are optimistic of the prospects ahead as we see considerable progress in the vaccination rollouts and the heightened adherence to safety protocols. With customer and employee safety as our priority, we are committed to ensure that our contactless service platforms like the Mobile and Online banking are available 24/7, and robust with functionalities that allow them to do their banking transactions at home,” PSBank President Jose Vicente L. Alde said.

Recently, the Bank has enabled the real-time reloading of Autosweep and Easytrip Toll RFIDs through the PSBank Mobile App, and the payment of loans in all 7-Eleven convenience stores.

Last July 30, the Bangko Sentral ng Pilipinas (BSP) awarded PSBank as one of its Outstanding Stakeholders for 2021 in recognition of the Bank’s invaluable contribution and support to the BSP’s programs, policies, and advocacies which included going beyond the call of duty at the height of the global health crisis.  The BSP recognition creates a greater sense of awareness and responsibility for banks in ensuring responsiveness and greater efficiency in serving and protecting the interests of their clients and the general public, as well as adhering to the best practices of customer service.


PSBank customers can now pay their loans via ECPay and 7-Eleven

Philippine Savings Bank (PSBank) has made banking simpler and more maaasahan with its new partnership with Electronic Commerce Payments Inc. (ECPay), the leading electronic payment service provider in the Philippines.

With PSBank and ECPay’s partnership, customers can now pay their Auto Loan, Home Loan, Flexi Personal Loan, and Business Loan through 7-Eleven, one of ECPay’s merchant partners, the biggest convenience store chain in the country with more than 3,000 branches nationwide.

You can now pay your PSBank Loans at any 7-Eleven Store

“As more Filipinos turn to technology to handle their financial transactions, we are committed to develop new ways for them to manage their finances. By leveraging the reliable technology of ECPay and the ubiquitous presence of 7-Eleven, we are able to reach more customers and make their financial transactions as fast, simple, and reliable as our in-branch and mobile options,” says PSBank Senior Vice President & Marketing Group Head Noel Tuazon.

There are two ways to initiate payment via ECPay through 7-Eleven.  First, customers simply use the CLiQQ kiosk machine, select “Bills Payment,” “Loans,” then “PSBank.” From there, they need to encode their loan account number, mobile number, and the amount due. After entering the requested details, they must tap “Confirm” and wait for the barcode to be generated which they need to present to the cashier for verification. Once validated, they give their cash payment together with the corresponding service fee to the cashier. The cashier provides an electronically-generated official receipt, which will serve as their proof of payment. Only machine-validated payment receipts or an electronic acknowledgment receipt will be honored by the Bank.

The second option is more viable for on-the-go individuals. They can make a similar transaction anywhere, anytime using the free-to-download 7-Eleven CLiQQ app on their smartphone. Following the same process, customers just need to visit a 7-Eleven branch to present the barcode generated on their app for validation, pay the amount due, and get the official receipt.

Only loan accounts with active, current, or updated status are eligible for payments through 7-Eleven. Customers may make partial payments on or before their due date. Payments made before 11:30 PM cut-off time on weekdays will be processed and posted to the account within the day, while those settled on weekends or holidays will be posted at the end of the next banking day. 7-Eleven only accepts cash payments. Customers may pay up to PhP10,000 per transaction if initiated using the CLiQQ kiosk machine and up to PhP50,000 per transaction via the CLiQQ app.

Customers may check if the payment is posted through the transaction history under My Accounts in PSBank Mobile, My Loan Accounts in PSBank Online, or Basic Banking in Business Online Buddy. They may also call the Customer Experience Hotline at (02) 8845-8888, send an email at [email protected], or LiveChat with PSBank at www.psbank.com.ph.

Payments to PSBank loans via ECPay through its merchant partner 7-Eleven, joins a suite of loan payment options that PSBank customers can access, including PSBank Mobile, PSBank Online, InstaPay, PESONet, GCash, PSBank ATMs, BancNet-member banks’ ATMs and for corporate accounts via Business Online Buddy. All these can be accessed without having to visit a PSBank branch, as part of the bank’s promise of a seamless and convenient banking experience for customers.

“As the simple at maaasahang bank of Filipinos, we are constantly looking for ways to serve our clients’ evolving needs. Our partnership with ECPay is just the latest initiative for a better banking experience. We will continue to upgrade and develop our products and services, as we expand our network of electronic payment partners at the same time,” shares Tuazon.

Click here for more details on payments to PSBank loans via ECPay through 7-Eleven.





Instant Reloading of Autosweep and Easytrip Toll RFIDs is Now Available via PSBank Mobile!

PSBank made the instant and hassle-free reloading of Autosweep and Easytrip Toll RFIDs available via the PSBank Mobile App.*

With the PSBank Mobile Toll RFID reload facility, PSBank customers will now be able to save time and breeze through tolls as with just a few taps, their Autosweep or Easytrip account will be reloaded immediately.

A fee of PhP10 will be deducted from the customer’s PSBank account when they make an Autosweep reload. For Easytrip reloads, the fee will be deducted from their Easytrip account.

*Available in the latest version of PSBank Mobile. To experience this new feature, update your APP NOW!  

Instant Reloading of Toll RFIDs now available via PSBank Mobile!

 

Reloading Autosweep and Easytrip Toll RFIDs via PSBank Mobile is simple and easy.  Here’s how:
How to reload your Toll RFID via PSBank Mobile App
Click here for more information on Toll RFID reloading via PSBank Mobile.

 


PSBank extends waived fees for InstaPay and PESONet transactions




Philippine Savings Bank (PSBank), the consumer banking arm of the Metrobank Group, further extends the waiving of fees for PESONet and InstaPay transactions made via the PSBank Mobile App and PSBank Online until June 30, 2021.

PSBank aims to continue to encourage customers to take advantage of the opportunity to send money to other banks for free as well as do #SafePSBanking from home using its mobile and online channels for easier and safer transactions amid the continued surge of COVID-19 cases in the country.

“Our top priorities always include customer safety and convenience. That is why we want to ease their worries as much as we can--especially in these challenging times--mainly through extending the waived fees for mobile and online transactions until mid-year,” says Emmanuel Tuazon, PSBank Senior Vice President and Marketing Group Head.

 

 

 


PSBank posted net income of PhP439 million for Q12021; income before provisions up 8%

PSBank building photo

Philippine Savings Bank’s (PSBank) pre-provision operating profit was up 8% to PhP1.61 billion from a year ago owing to increase in other operating income, reduction in expenses and improved margins arising from reduced cost of funds. As the bank sustained its conservative provisioning strategy with a 39% increase versus last year, PSBank posted PhP439 million net income for the first quarter of 2021.

Gross revenues stayed flat year-on-year at PhP3.77 billion. Net interest income contracted slightly by 3% to PhP3.14 billion. Low-cost CASA deposits grew 12% to PhP67.86 billion, resulting in improvements in asset margins to compensate slower demand for retail loans during the pandemic. The Bank continued to reap benefits out of its operational productivity and efficiency initiatives. Operating expenses saw a decline of 6% from same period last year. Cost-to-income ratio further improved to 57% from 69% recorded last quarter.

“As the pandemic continues to affect the business environment, prudence dictates that we maintain a conservative stance on our provisioning to cushion any potential risks on asset quality. Our balance sheet has remained very stable with ample liquidity, and our capitalization strong. These ensure that the Bank is in the best position to take on opportunities when the economy starts to recover,” PSBank President Jose Vicente L. Alde said.

The Bank’s capital position was at PhP34.64 billion as of quarter-end 2021. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) further improved to 21.0% and 19.7% respectively, close to double the regulatory minimum. Total assets closed PhP227.5 billion, up 4% from December 2020. Net non-performing loans ratio went down to a manageable 4.3% from 5.2% of previous quarter-end.

PhilRatings gave PSBank the highest Issuer Credit Rating of PRS Aaa (corp.) with a Stable Outlook citing on the Bank’s strong capitalization thus having a strong capacity to meet its financial commitments relative to other Philippine corporates.

PSBank is the thrift banking arm of the Metrobank Group.


PSBank Annual Report Bags Silver Anvil Award

PSBank Annual Report Bags Silver Anvil Award

Philippine Savings Bank (PSBank) recently won a Silver Anvil for its 2019 Annual Report at the recently concluded 56th Anvil Awards.


The PSBank 2019 Annual Report entitled Redefining Journeys – Crossing Another Decade, showcased the significant changes the Bank made in its processes and systems, the way it effectively harnessed data and technology, and how it was able to engage its customers more actively by embedding a culture of service across all levels of the organization -- all geared towards making a positive impact in the lives of its customers.

The report’s theme Redefining Journeys conveys how the bank sets itself apart by elevating customer experience through employee enablement.

The annual Anvil Awards of the Public Relations Society of the Philippines recognizes public relations programs and tools that meet the highest PR standards. It is one of the most coveted prizes in the Public Relations industry as entries undergo a rigorous screening process handled by a distinguished multi-sectoral jury.



PSBank posted 31% growth pre-provision income; reports Php 1.108 Billion net income


PSBank
Philippine Savings Bank’s (PSBank) operating income surged to 31% before provisions to Php7.45 billion last year.  This enabled the Bank to set aside additional loan loss provisions to three times over to Php6.40 billion in view of the ongoing pandemic conditions. The Bank closed 2020 with Php1.108 billion net income.


“On the back of a strong balance sheet and capitalization, the Bank stayed resilient amidst the challenges of 2020.  As a matter of strategy, we took a conservative stance on credit provisioning in anticipation of risks associated with the pandemic.  The Bank prioritized the safety of its employees and customers by quickly instituting Covid-19 safety protocols.  We strengthened our digital platforms and made them reliable as the demand for digital banking services exponentially rose,” PSBank President Jose Vicente L. Alde said.

Gross revenues was 13% higher at Php16.57 billion. Net interest income showed improvement by 21% to Php 13.75 billion, owing to a significant growth in low cost CASA deposits and the decline in interest of term deposits. CASA deposits grew 16% to Php67.25 billion from Php58.18 billion. In line with initiatives to improve operating efficiencies, operating expenses were kept in check and increased by only 2%.

PSBank’s capital position remained strong at Php34.51 billion. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) further improved year-on-year to 19.4% and 18.1% respectively. Both are above the statutory requirement of 11% set by the Bangko Sentral ng Pilipinas. Total assets closed at Php219.41 billion. Net non-performing loans ratio was at a manageable 5.2%.

The Philippine Rating Services Corporation (PhilRatings) assigned PSBank the highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, citing on the Bank’s highly-experienced management team and strong capitalization thus having a very strong capacity to  meet its financial commitments relative to that of other Philippine corporates.

In 2020, digital enrolments and utilization increased 56% and 143% respectively. The Bank waived fees for interbank transfers thru InstaPay and PESONet to further promote digital payments. By mid-year, PSBank made available the booking of time deposits via Mobile and launched the national standard-compliant QR Code for use in fund transfers/payments. For the safety and convenience of loan customers, settlement of PSBank loans via InstaPay was also made available in the last quarter of the year.

“As the economy slowly opens up in 2021, we shall remain positive and hopeful that our recalibrated business models will deliver and continue to adapt to the new environment. We will continue to pursue our digital transformation roadmap by delivering on what is relevant and simple for the customer,” President Alde added.


Good to Know: This 2020, Save Up to Level Up with PSBank

Each new year comes with the promise of a better future for many individuals and families. To most, it is the opportune time to achieve new goals, to upgrade standards of living, and to seize new, exciting opportunities.

PSBank, everyone’s “simpleng maaasahan” bank recognizes the importance of this period, marked by resolutions and commitments — and invites all to make a firm, positive decision to progress in the attainment of their aspirations, through the act of purposefully saving money.

The Bank believes that this allows one to level up, to grab what the new year and the new decade has to offer to those who actively prepare for it.

Look through these exciting ways on how you can grow your funds surely and securely this 2020 through PSBank’s Savings Account offerings:

PSBank ATM Savings – Commit to have an Average Daily Balance of PhP5,000, and have the benefit of earning a fixed interest rate as you further save. Access your account securely any time of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide. You can also avail hassle-free settlements of your utility and credit card bills, and experience the convenience of cashless shopping through BancNet’s electronic payment facility.

PSBank Regular Passbook Savings – Whether you’re saving up for an investment, a special life event, or an emergency fund, you can be assured that PSBank will make it easy for you. Having a Regular Passbook Savings Account gives you the benefit of also earning a fixed interest rate, and provides you a convenient way to monitor all your transactions.

PSBank Passbook with ATM – Maintaining a Passbook with ATM account with PSBank offers more than convenience and fixed interest rates. It also comes with a PSBank Debit Mastercard that allows you to safely access your funds, whether you are in the country or abroad.

PSBank Kiddie and Teen Savers – For those with children, starting kids early on the habit of saving will impart a discipline that will carry them throughout life. PSBank’s Kiddie and Teen Savers accounts are accompanied by free personal accident insurance from the Charter Ping An Insurance Corporation, allowing your child or teen the possibility of getting coverage equivalent to five times the value of the Average Daily Balance. These accounts may be opened as In-Trust-For (ITF) accounts, as joint accounts, or as individual accounts for each of your children.

PSBank Personal Checking Account – Possess check-writing flexibility for worry-free payments of your bills and other financial transactions whenever you need it. Open this account at any of the Bank’s branches and enroll in PSBank Mobile and PSBank Online to experience delightful banking moments.

PSBank’s Senior Vice President and Marketing Group Head Emmanuel Tuazon says, “As we enter this new year, we want to give our customers the ability and resources to become their best selves, through disciplined saving. We are confident that our suite of diverse Savings Accounts will allow them to do just that, and more — by instilling in them the importance of being prepared, and of having the mindset of constant improvement. We invite everyone to check out all of our products and services today.”


Good to Know: Embrace New Beginnings, Partner with PSBank this 2020

The New Year is undoubtedly one of the most exciting times of the season. This is the period when people, young and old alike, take the chance to remember the events of the year that has passed and look forward to the many opportunities that are in store for them.

As families and individuals enter a new decade, goals are created, revived, and are actively set in place. PSBank, as everyone’s “simpleng maaasahan bank” recognizes these aspirations in the lives of its customers — and purposefully presents solutions that allow it to be a reliable, consistent partner in the achievement of these important plans.

With its wide, innovative, and secure range of banking services and products, PSBank ensures that excuses fly out of the window — surely, there is no better time to seize the moment and take the chance to live life to the fullest.

Check out these PSBank offerings today, and see how you can make 2020 your best year ever:

PSBank ATM Savings – Grow your money and have the benefit of earning a fixed interest rate with a bank you can trust, as you work towards accomplishing your goals. Have the privilege of accessing your account anytime of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide.

PSBank Cardless Withdrawal – Forgot your ATM? PSBank assures you that you don’t have to worry about it, ever. With just a few taps on your smartphone, you’ll able to safely withdraw your hard-earned cash from over 599 ATMs nationwide. That’s peace of mind — ight in the palm of your hand.

PSBank Mobile Check Deposit – New year, new way of depositing checks. No longer do you have to physically go to a bank to get them cleared. Now all you have to do is take a photo through PSBank’s Mobile App, and you’re all set.

PSBank PaSend – Sending cash is no longer a chore with this remittance service. For a very minimal transaction fee, you can easily send money to family, friends, and partners, anytime and anywhere — even to those who don’t have an account with the Bank. The funds you send may be withdrawn 24/7 at any PSBank or Metrobank ATM.

PSBank Time Deposit – Be more as you do more with your money. With PSBank’s Time Deposit offering, not only do you enjoy a low initial deposit amount, but you also gain profit in as fast as 30 days. Talk to PSBank and we’ll help you understand and manage your account as our firm commitment.

PSBank Auto Loan – Have you been eyeing a new car for your family or for yourself? PSBank has got you completely covered. Offering competitive interest rates and a fast approval time, the Bank will surely make possible the deal you’ve been craving for. Enjoy the bank’s Prime Rebate feature when you avail its Auto Loan which lets you earn discounts on your loan when you make advance or excess payments on your monthly due.

PSBank Home Loan – Experience the family lifestyle you’ve been working so hard for this coming year through PSBank’s Home Loan. Enjoy loan approval in as fast as 24 hours, with convenient terms, and even better rewards. Benefit from Bank’s Prime Rebate feature — making the process of purchasing your new house even more fulfilling.

PSBank Personal Loan – This 2020, have the funds that will enable you to realize your travel and other life goals. PSBank’s Flexi Personal Loan, which also comes with Prime Rebate, is a collateral-free personal loan product with a revolving credit line and a fixed-term loan. The product comes with an ATM card, allowing you access to day and night banking from PSBank ATMs nationwide.

PSBank Money Market Fund – Create new possibilities in the coming decade: instead of being just a depositor, be an investor! With PSBank’s Money Market Fund, the Bank’s first Unit Investment Trust Fund (UITF), you can have a team of experts closely manage your investment for a minimum of PhP10K. These partners will choose from different low-risk financial instruments to optimize your returns, giving you an affordable liquid investment option. Now is the time to invest in your future!

PSBank’s Senior Vice President and Marketing Group Head Emannuel A. Tuazon says:

“Celebrate new beginnings this year with the Bank that journeys with you everyday, a trusted and reliable group that puts your best interests at the heart of everything it does. With PSBank’s full suite of future-ready offerings, you can now confidently seize opportunities and make this new year, this new decade, a time of turning your big dreams into reality. We invite you to check out our products and services today!”


PSBank Doubles Net Income to PhP1.84 billion for 1st Half of 2022

Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported a PhP1.84 billion Net Income for the first half of 2022, a year-on-year growth of 109% versus PhP0.88 billion in 1H2021. The rise in profit was propelled by continuous improvement in loan portfolio quality, expansion of revenues from other operating income, and controlled operating expense.

Net interest income reached PhP5.45 billion while net service fees and commissions grew by 13%. A strong revenue growth of 101% in other non-interest income lines was likewise achieved. These were driven by increased business activities from the opening-up of the economy, and further relaxation of mobility restrictions. Growth in operating expenses remained under control at 3% year-on-year as the Bank continues its productivity and operational efficiency initiatives.

Gross Non-Performing Loans contracted by almost half since 1H2021 thus reducing credit provisions to PhP625 million from PhP2.17 billion a year ago. Net Non-Performing loans ratio was at 1.96%, better than pre-pandemic levels.

PSBank’s total assets stood at PhP268 billion as of end-June 2022. Total deposits were stable at PhP220 billion with low cost deposits growing by 10% year-on- year. Capital improved by 4% to PhP36.06 billion. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio remained strong at 24.6% and 23.5%, respectively; both of which are way above the regulatory requirement of the Bangko Sentral ng Pilipinas (BSP).

“We observed a significant increase in consumer lending activity during the first semester of 2022. The Bank remains optimistic that this can be sustained for the remainder of the year despite ongoing geopolitical events and other external factors. We will continue to be proactive in our strategy to adapt to the changing market conditions with our focus on productivity, operational discipline, innovation and customer experience. As the economy grows, we expect increased business opportunities; and the Bank is well-prepared to provide the banking needs of consumers,” PSBank President Jose Vicente L. Alde said.

In June 2022, PSBank and Toyota Philippines launched the “Say Hi to Hybrid Auto Loan” promo. The offering aims to help pave the way for sustainability by making it easy and affordable to own a Toyota Hybrid Electric Vehicle through PSBank with lower rates and free one-year comprehensive auto insurance. This special offer is available in any PSBank branch or through the Bank’s online auto loan application facility. The Bank will also soon make available in its PSBank Mobile App the QRPh Pay-to-Merchant functionality which aims to further promote cashless payments at various merchant establishments nationwide.


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PSBank and Toyota launch Say Hi To Hybrid Auto Loan promo, offer LOWER RATES and FREE CAR INSURANCE for eco-friendly HEVs

PSBank and Toyota launch Say Hi To Hybrid Auto Loan promo,  offer LOWER RATES and FREE CAR INSURANCE for eco-friendly HEVs

Philippine Savings Bank (PSBank) and Toyota Motor Philippines (TMP) team up for “Say Hi To Hybrid Auto Loan” promo, an offering that aims to help pave the way for sustainability by making Hybrid Electric Vehicles (HEVs) more accessible to Filipinos.

HEVs are eco-friendly cars that are fuel efficient, have a self-charging battery, and are easy to maintain, making them the more sustainable option for the environment and for the budget.  Topnotch examples of HEVs include Toyota’s Corolla Cross 1.8V Hybrid and Corolla Altis 1.8V Hybrid CVT, both supported by the Say Hi To Hybrid Auto Loan Promo.

PSBank and TMP’s promo offering includes FREE 1- YEAR COMPREHENSIVE CAR INSURANCE and LOWER RATES when availing any of the two Toyota HEVs through PSBank Auto Loan. This special offer will run from June 1 to August 31, 2022.

“Many people are now shifting to a more sustainable lifestyle and we at PSBank want to further empower them by making owning a Toyota HEV easy and affordable through our Auto Loan facility, special rates, and free one-year insurance. Together with Toyota, we serve two purposes: giving an excellent deal and doing our share in saving the environment,” said PSBank Senior Vice President and Marketing Division head Emmanuel A. Tuazon.


"Partnering with PSBank to make HEVs more accessible to Filipinos is an exciting feat for us at Toyota. With the special offer, we hope to encourage more people to live a more sustainable lifestyle on the road, one hybrid ride at a time," said Toyota Motor Philippines First Vice President for Marketing Division Sherwin Chua-Lim.

For individuals wanting to live an eco-conscious life on the road and avail the Say Hi To Hybrid Auto Loan promo, they can apply through the PSBank website’s online loan application facility or go to the nearest PSBank branch. After accomplishing and submitting the application form online or through PSBank branch, clients will receive a credit decision within 24 hours. For more information about the promo or PSBank Auto Loan, follow facebook.com/psbankofficial, go to the nearest PSBank branch, or LiveChat with us. 

Click here for the promo mechanics.


A strong start in 2022: PSBank 1Q net income up 102%

PSBank Head Office Building
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a Php888 million net income for the 1st quarter of 2022, up 102% year-on-year. The surge in net income was driven by revenues from other operating income and improved asset quality.

The Bank's net interest income reached Php2.7 billion while service fees and commissions rose by 14% as loan demand expanded when quarantine restrictions were loosened. Non-interest income also went up by 190% resulting from increased business activities. This was offset by an uptick of 6% in operating expenses due to higher volume albeit being kept in check through continuous improvements in productivity and operational efficiency.

The Bank’s asset quality further improved resulting to the reduction in credit provisioning by 68% to Php346 million from Php1.1 billion a year ago. Gross non-performing loans is back to pre-pandemic levels, posting a decline of 30% from the same period last year.

The Bank’s balance sheet became stronger. Total assets grew 16% to Php263 billion year-on-year. Total deposits jumped by 24% to Php217 billion with low-cost checking and savings deposits increasing by 9%. Capital position improved by 2% to Php35 billion as of first quarter-end 2022. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio improved to 24.5% and 23.4%, respectively. Both ratios remain above the regulatory minimum.

“Our recalibrated business models to include data-driven approaches to credit and collection continue to serve us well as we ride on the momentum of improving consumer confidence which began with the opening up of the economy by end-2021. With our strategies firmly in place, we see our growth and strong financial performance to be sustainable even as there may be potential volatility brought by adverse offshore developments,” PSBank President Jose Vicente L. Alde said.

Despite challenges in the market primarily caused by the health crisis, PSBank has maintained its Issuer Credit Rating of PRS Aaa (corp.) with a Stable Outlook from the Philippine Rating Services Corporation (PhilRatings). Such rating reflects the company’s very strong capacity to meet financial commitments relative to other Philippine corporates; and seen to be unchanged in the next 12 months.




PSBank Keeps Highest Credit Rating

PSBank building

Philippine Saving Bank (PSBank), the consumer and retail bank arm of the Metrobank Group, kept its Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, from the Philippine Rating Services Corporation (PhilRatings).

A company rated PRS Aaa (corp.) has a very strong capacity to meet its financial commitments relative to that of other Philippine corporates. PRS Aaa (corp.) is the highest Issuer Credit Rating assigned by PhilRatings.

A Stable Outlook, on the other hand, is assigned when a rating is likely to be maintained or to remain unchanged in the next 12 months.

The ratings reflect PSBank’s strong market position, sound capitalization and prudent loan provisioning, strong Parent and highly-experienced management team.

PhilRatings’ ratings are based on available information and projections at the time that the rating review was performed. PhilRatings shall continuously monitor developments in relation to PSBank and may change the rating and Outlook at any time, should circumstances warrant a change.

Based on data from the Bangko Sentral ng Pilipinas (BSP), PSBank was the country’s second largest thrift bank, as of December 31, 2021. PSBank ended the year with total assets of Php260.8 billion. The bank likewise ranked second in terms of deposits (Php216.8 billion) and net loans (Php111.5 billion), and ranked first in terms of capital (Php33.5 billion). The bank is a significant player in the consumer banking sector. According to PSBank, it accounted for 44% and 21% share of the thrift banking sector’s auto loans and residential real estate loans, respectively as of end-2021.

PSBank has maintained a healthy capitalization. Capital Adequacy Ratio (CAR) stood at 24.3% as of end-December 2021, up from 19.4% in 2020, and exceeding the regulatory minimum.

As Gross Non-Performing Loans (NPL) ratio grew to 6.7% in 2020, from 3.6% in 2019, PSBank was proactive in its provisioning given the potential credit risks brought by the pandemic. Provision for impairment and credit losses expanded by 189% in 2020. Gradual recovery from the effects of the pandemic resulted in improved asset quality for 2021. Gross NPL declined by 29% from the previous year while the Gross NPL ratio improved to 6.1%. Following better asset quality, PSBank reduced its provision for impairment and credit losses by 52% in 2021.

Metropolitan Bank and Trust Company (Metrobank) is the major shareholder of PSBank, with equity stake of 88.4%, as of December 31, 2021. Metrobank is a BSP-licensed universal bank, and was the Philippines’ third largest bank based on assets of Php2.2 trillion, as of December 31, 2021. It similarly ranked third based on loans (Php1.1 trillion), fourth in terms of deposits (Php1.7 trillion), and second in terms of capital (Php306.8 billion).

The management team, led by Jose Vicente Alde as President, is considered as highly-experienced banking professionals. Mr. Alde’s solid background on Information Technology is seen as significant, given the banking industry’s strong push for digitalization in response to the pandemic. 


PSBank net income up 39% in 2021

PSBank building
Philippine Savings Bank (PSBank) closed the year 2021 with a net income of Php 1.5 billion, higher by 39% from previous year. The strong income performance was on the back of the increase in fee income by 22%, operating efficiencies which saw expenses decline by 3%, and the reduction in loan loss provisions owing largely to improved asset quality and effective collection efforts. Net non-performing loans ratio significantly dropped to 3.4% from 5.2% in 2020.


Total deposits grew 29% to Php 216.80 billion from Php 167.46 billion. Year-on-year, the Bank saw loan applications increasing. As the economy opened up and pandemic alert levels downgraded, consumer loan demand started to pick up in the second half of 2021.

“Our financial performance in 2021 is a testament of the strength of the Bank’s balance sheet, and the agility of the organization to quickly adapt to volatile market conditions. Our early and proactive efforts to adjust our strategies and operations allowed us to be at the forefront of opportunities as they unfold,”  PSBank President Jose Vicente L. Alde said.

Total assets closed higher by 19% to Php 261.81 billion from Php 219.41 billion a year ago. PSBank’s capital position was strong at Php 34.89 billion. Total Capital Adequacy and Common Equity Tier 1 (CET1) Ratios improved significantly to 24.3% and 23.2% respectively, both above the statutory requirement set by the Bangko Sentral ng Pilipinas (BSP).

The Bank was also recognized as one of BSP’s Outstanding Stakeholders for being an exemplary partner in promoting its advocacies. In the same year, the Institute of Corporate Directors (ICD) bestowed the Golden Arrow Award to PSBank for its commitment to good corporate governance.

In 2021, the Bank made available an Account Onboarding Facility through the PSBank Mobile App which allows new-to-bank clients to seamlessly open a savings or prepaid account without the need to go to any of its branches. Customers can now also reload their Tollway RFIDs via the PSBank Online and Mobile App, as well as pay their PSBank Loans in all 7-Eleven outlets.  The reliability and exceptional user experience provided by its digital platforms saw mobile and online transactions nearly quadruple in the last two years.

“The last two years of the pandemic have highlighted the importance of organizational flexibility. PSBank was able to harness the skills of its people and switch resources to business operations which need more attention, has higher demand or present new opportunities.  Our digital transformation roadmap launched earlier than the pandemic allowed us to stay ahead of our customers’ requirements for non-contact banking. Relevant customer experience has remained at the center of what we do – true to the Bank’s core value of “Simple at Maaasahan,” President Alde added.


PSBank helps provide a brighter future to underprivileged children through its CSR partners

Philippine Savings Bank (PSBank) renews support for the welfare of visually impaired, indigent and special children through the Bank’s annual donation to its corporate social responsibility (CSR) partners -- World Vision, Chosen Children Village Foundation, Inc. (CCVFI), and Resources for the Blind, Inc. (RBI).

Photo courtesy of Chosen Children Village Foundation, Inc.

Photo courtesy of Chosen Children Village Foundation, Inc.

 

PSBank donated a total of PhP300,000 to aid these three child-friendly organizations in providing shelter, basic necessities, education, and other special needs for the underprivileged children under their care.

World Vision commits in using the financial assistance to continue their programs for the welfare of underserved Filipino families. The organization spearheads community development initiatives and helps parents find a source of livelihood to better support their kids. They also provide emergency assistance to those affected by natural disasters.

“As the largest non-profit organization in the Philippines, World Vision helps over 1.5 million children every year.  With the support of thousands of Filipino sponsors and donors such as PSBank, the children, along with their families, were able to build a sustainable life in all of its fullness,” said World Vision Donor Care and Development manager Precious Hope Basco.

The Bank’s other partner, Chosen Children Village Foundation, provides abandoned children with mental and physical handicaps a caring and loving home. They also train the children as they grow to adulthood to become productive and self-reliant members of the society despite their disabilities.  To date, there are over 80 children who are being rehabilitated and cared for in their facility in Silang, Cavite.

CCVFI  Executive Director Adrian Mendoza expressed his gratitude to the bank in his remark: “Your generosity and love enable us to continue living with our mission of providing a haven for these angels and creating programs to maximize their potential and quality of life despite their mental, physical, and social difficulties.”

Meanwhile, PSBank’s donation to the Resources for the Blind was intended to help realize the organization’s mission in helping blind Filipinos reach their full potential through counseling, education and training, and rehabilitation programs. RBI also aims to transform the children’s lives into becoming an integral part of society by teaching them basic functions like chores in the home and other daily activities.

“With the untiring support and generosity of our corporate partners like PSBank, we equipped the children with the means to go to school and access the education system, thus giving them a chance for a brighter future,” said RBI Executive Director Amelia M. Torrente.




Do More While Staying at Home with the All-New PSBank Online!


PSBank reports net income of Php 1.26 billion in first 9 months of 2021

PSBank reports net income of Php 1.26 billion in first 9 months of 2021

Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of Php 1.26 billion for the first nine months of 2021, driven by increase in non-interest income, prudent management of expenses, and improvement in loan loss provisions.

Total assets expanded by 21% to Php258.75 billion as the Bank continued to grow its deposit base by 32% to Php213.51 billion. Low-cost CASA increased by 10%. As consumer loan demand remains slow, net interest income decreased by 11% compared to the same period last year. This was offset by an increase in non-interest income net of trading gains by 71% and reduction in operating expenses by 3%. The Bank booked credit provisions of Php2.77 billion, aligned with the industry-wide reduction in loan losses, as net non-performing loans improved to 3.9% from 5.2% as of end-2020.

PSBank’s capital remained formidable at Php 34.88 billion as of end-September 2021. Capital ratios were more than double the regulatory minimum with Capital Adequacy Ratio of 23.2% and Common Equity Tier 1 Ratio (CET1) of 22.1%.

“With less COVID-19 cases registered daily and the speed at which vaccination is rolled-out, we should see more businesses opening up and consumer demand improving. In the past year, we have seen how the operating environment changed. PSBank is taking steps ahead. We have been recalibrating our infrastructure and business models to ensure that we are more than equipped to take on the opportunities of a new business environment,“ PSBank President Jose Vicente L. Alde said.

In September 2021, the Bank launched its Online Account Onboarding facility which allows customers to open a savings and prepaid account without the need to go to the branch. The process of account opening is completed seamlessly end-to-end via the PSBank Mobile App. Clients who prefer to have ATM cards can have them delivered at their doorstep. The new feature was launched in social media under the “Stay Safe: Tap, Tap, Tapos Agad” campaign.

“While we are one with the industry in strengthening digital banking capabilities, the priority has always been the safety of our customers and employees. We have pursued making our Mobile and Online Banking platforms robust and packed with relevant functionalities to enable customers to do most if not all of their banking transactions without going to a branch,” President Alde added.


Good to Know: 5 Reasons Why This Mobile Banking App is a Must-Have

Not too long ago, the only way to get hold of a savings account was to physically visit a bank. Today, with lots of technological advancement, opening a savings account with just a couple of clicks on your mobile device is fast becoming the new norm.

Leading the change on this front is PSBank, which recently launched the Online Account Opening feature of its mobile banking app. The bank’s primary reason for this feature is simple -- to make banking hassle-free and safe for Filipinos by bringing the first step of digital banking right at their fingertips.
https://www.psbank.com.ph/other-products-and-services/other-products-and-services/product-lists/psbank-online-account-opening/?utm_source=PR&utm_medium=seeding&utm_id=onboarding

In choosing a banking app, here are 5 reasons why the PSBank Mobile is a must-have:

ADVANCED/CUTTING-EDGE FEATURES. Suffice it to say, times have changed. With online banking, you get to do a variety of financial transactions while at the safety of your home. What’s cool about the PSBank Mobile app is you can now open a peso savings or prepaid account via the app with just one valid ID and a selfie. It also offers a wealth of built-in money management features and powerful functionalities which lets you do your banking requirements such as pay bills, transfer funds using account number or QR code, monitor your accounts in real-time, P2P payment using PayMe, grow your money through time deposit placement, apply for a loan, even deposit checks 24/7 and a lot more in between watching your favorite shows on Netflix or while sipping a cup of coffee at home.
Reasons why this mobile app is a must-have
CONVENIENCE. Let’s face it—who has time to wait in line and accomplish transactions within limited banking hours? There’s a lot you can do with the time you’ll spend visiting a bank. The simple, intuitive design and navigation of the PSBank Mobile app allows you to complete banking tasks with just a few taps on your smartphone and the app wherever you are, whenever you want. Yup, that’s as quick and easy as it gets.

SECURITY. With the rise in cyber fraud and financial scams, you would definitely need assurance that your hard-earned savings or accounts are secure. What’s great about the PSBank Mobile app is you can securely log in to the app using either face or fingerprint ID and transactions are authenticated by an OTP (One-Time Password) sent to your registered mobile phone.  Moreover, the app has an ATM Lock feature which allows you to lock/unlock your ATM card account/s to prevent it from unauthorized use.   

CONTROL. Nothing beats being able to access, manage, and move money as you see fit – from anywhere at any time. In addition to being able to perform banking tasks, you can also schedule transactions with the all-around PSBank Mobile banking app so you will not fall behind on your bills, forget to send money or reload your mobile phones. It also has and allows you to manage alert notifications for things like loan due date, withdrawal and other debits, and account balances. 

24/7 ACCESS TO CUSTOMER SERVICE. Well-designed mobile banking apps make it clear how to get help fast. Assistance via the PSBank Mobile app come with a simple tap and in the form of LiveChat, phone, email or filling out an online form.

The PSBank Mobile banking app truly is packed with powerful functionalities and more. It’s one of the most complete, reliable, and user-friendly banking apps in the market today.

“Our commitment to innovation, convenience, and safety is what drives us to keep adding new features in our mobile banking app that we know would be of great help to Filipinos who live in an ever-increasing digital world. And we’re just getting started. There’s so much more to look forward to in the coming months,” said Noel Tuazon, PSBank Senior Vice President & Marketing Group Head.

Download the PSBank app from Apple Store or Google Play Store today.

Apple StoreGoogle Play


PSBank makes banking safer with new online account opening via its Mobile App!

Philippine Savings Bank (PSBank) made banking simpler and safer with its new digital offering -- allowing Filipinos to open a PSBank peso savings account via its Mobile App.  With just one (1) valid ID, a selfie, and with literally just a few taps, tapos agad!

What used to require at least a visit to the bank is now replaced by an online account opening service through one’s smartphone and the PSBank Mobile App.

The app allows customers to enjoy hassle-free, safe banking and easily and conveniently do tasks such as bills payment, fund transfers, mobile check deposits, time deposit placements, toll RFID and telco reload, loan application, and now account opening in the comfort of their homes. 
PSBank Online Account Opening


“Our customers’ safety is our number one priority. This is the reason why we continuously strengthen our digital infrastructure so that Filipinos can do their banking transactions whenever they want and wherever they are. Supplementing today’s consumer lifestyle, this new feature allows customers to do more despite staying indoors,” shares PSBank Senior Vice President for Marketing Noel Tuazon.

PSBank’s online account opening service completes the bank’s suite of digital services, designed to keep in step with its customers’ ever-evolving needs. The PSBank Mobile App offers a well-rounded and best-in-class user experience, from real-time account management to savings growth and security.

Meanwhile, customers may open a maximum of two (2) accounts online. New customers may also request a PSBank Debit or Prepaid Mastercard for their newly opened deposit account and have it ready for pick up at any PSBank branch or delivered to their registered mailing address.


Innovation for safety

Aside from convenience and security, innovation for consumer safety drives PSBank’s mission to upgrade and develop its products and services.


“Our clients can attest that we constantly innovate to make banking simpler and so much easier. We are the first lender to introduce Cardless Withdrawal, the ATM Lock feature, Mobile Check Deposit, among other things,” Tuazon notes. “This time, innovation becomes our tool in helping Filipinos safeguard their health. Trust that we will keep on harnessing digital technologies and continue to upgrade our industry-leading product and service offerings for our customers,” he adds.

Click here to know more about PSBank Online Account Opening. 


PSBank ends 1H2021 with Php879 million net income

PSBank Head Office building
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a net income of Php 879 million for the first half of 2021, primarily driven by an increase in fee income, reduction in expenses, and lower provisioning.

Year-on-year, total assets grew 17% to Php 271.7 billion. Total deposits increased by 24% to Php 220.4 billion with low-cost CASA growing by 9%. With muted consumer loan demand, net interest income slipped by 14% from the same period last year. This was compensated by an increase in fee income by 26% and a reduction in operating expenses by 5%, resulting in a cost-to-income ratio of 57.3%. Sustained improvement in loan portfolio quality was observed with non-performing loans continuing to be on a downtrend. Net non-performing loans ratio remained manageable at 4.2%, down from 5.2% of end-2020.

PSBank’s capital position remained strong at Php 34.76 billion as of June 2021. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) improved to double the regulatory minimum at 22.1% and 21.1%, respectively.

“While there were signs of recovery especially in the second quarter of 2021, the market still remained volatile and cautious. We are optimistic of the prospects ahead as we see considerable progress in the vaccination rollouts and the heightened adherence to safety protocols. With customer and employee safety as our priority, we are committed to ensure that our contactless service platforms like the Mobile and Online banking are available 24/7, and robust with functionalities that allow them to do their banking transactions at home,” PSBank President Jose Vicente L. Alde said.

Recently, the Bank has enabled the real-time reloading of Autosweep and Easytrip Toll RFIDs through the PSBank Mobile App, and the payment of loans in all 7-Eleven convenience stores.

Last July 30, the Bangko Sentral ng Pilipinas (BSP) awarded PSBank as one of its Outstanding Stakeholders for 2021 in recognition of the Bank’s invaluable contribution and support to the BSP’s programs, policies, and advocacies which included going beyond the call of duty at the height of the global health crisis.  The BSP recognition creates a greater sense of awareness and responsibility for banks in ensuring responsiveness and greater efficiency in serving and protecting the interests of their clients and the general public, as well as adhering to the best practices of customer service.


PSBank customers can now pay their loans via ECPay and 7-Eleven

Philippine Savings Bank (PSBank) has made banking simpler and more maaasahan with its new partnership with Electronic Commerce Payments Inc. (ECPay), the leading electronic payment service provider in the Philippines.

With PSBank and ECPay’s partnership, customers can now pay their Auto Loan, Home Loan, Flexi Personal Loan, and Business Loan through 7-Eleven, one of ECPay’s merchant partners, the biggest convenience store chain in the country with more than 3,000 branches nationwide.

You can now pay your PSBank Loans at any 7-Eleven Store

“As more Filipinos turn to technology to handle their financial transactions, we are committed to develop new ways for them to manage their finances. By leveraging the reliable technology of ECPay and the ubiquitous presence of 7-Eleven, we are able to reach more customers and make their financial transactions as fast, simple, and reliable as our in-branch and mobile options,” says PSBank Senior Vice President & Marketing Group Head Noel Tuazon.

There are two ways to initiate payment via ECPay through 7-Eleven.  First, customers simply use the CLiQQ kiosk machine, select “Bills Payment,” “Loans,” then “PSBank.” From there, they need to encode their loan account number, mobile number, and the amount due. After entering the requested details, they must tap “Confirm” and wait for the barcode to be generated which they need to present to the cashier for verification. Once validated, they give their cash payment together with the corresponding service fee to the cashier. The cashier provides an electronically-generated official receipt, which will serve as their proof of payment. Only machine-validated payment receipts or an electronic acknowledgment receipt will be honored by the Bank.

The second option is more viable for on-the-go individuals. They can make a similar transaction anywhere, anytime using the free-to-download 7-Eleven CLiQQ app on their smartphone. Following the same process, customers just need to visit a 7-Eleven branch to present the barcode generated on their app for validation, pay the amount due, and get the official receipt.

Only loan accounts with active, current, or updated status are eligible for payments through 7-Eleven. Customers may make partial payments on or before their due date. Payments made before 11:30 PM cut-off time on weekdays will be processed and posted to the account within the day, while those settled on weekends or holidays will be posted at the end of the next banking day. 7-Eleven only accepts cash payments. Customers may pay up to PhP10,000 per transaction if initiated using the CLiQQ kiosk machine and up to PhP50,000 per transaction via the CLiQQ app.

Customers may check if the payment is posted through the transaction history under My Accounts in PSBank Mobile, My Loan Accounts in PSBank Online, or Basic Banking in Business Online Buddy. They may also call the Customer Experience Hotline at (02) 8845-8888, send an email at [email protected], or LiveChat with PSBank at www.psbank.com.ph.

Payments to PSBank loans via ECPay through its merchant partner 7-Eleven, joins a suite of loan payment options that PSBank customers can access, including PSBank Mobile, PSBank Online, InstaPay, PESONet, GCash, PSBank ATMs, BancNet-member banks’ ATMs and for corporate accounts via Business Online Buddy. All these can be accessed without having to visit a PSBank branch, as part of the bank’s promise of a seamless and convenient banking experience for customers.

“As the simple at maaasahang bank of Filipinos, we are constantly looking for ways to serve our clients’ evolving needs. Our partnership with ECPay is just the latest initiative for a better banking experience. We will continue to upgrade and develop our products and services, as we expand our network of electronic payment partners at the same time,” shares Tuazon.

Click here for more details on payments to PSBank loans via ECPay through 7-Eleven.





Instant Reloading of Autosweep and Easytrip Toll RFIDs is Now Available via PSBank Mobile!

PSBank made the instant and hassle-free reloading of Autosweep and Easytrip Toll RFIDs available via the PSBank Mobile App.*

With the PSBank Mobile Toll RFID reload facility, PSBank customers will now be able to save time and breeze through tolls as with just a few taps, their Autosweep or Easytrip account will be reloaded immediately.

A fee of PhP10 will be deducted from the customer’s PSBank account when they make an Autosweep reload. For Easytrip reloads, the fee will be deducted from their Easytrip account.

*Available in the latest version of PSBank Mobile. To experience this new feature, update your APP NOW!  

Instant Reloading of Toll RFIDs now available via PSBank Mobile!

 

Reloading Autosweep and Easytrip Toll RFIDs via PSBank Mobile is simple and easy.  Here’s how:
How to reload your Toll RFID via PSBank Mobile App
Click here for more information on Toll RFID reloading via PSBank Mobile.

 


PSBank extends waived fees for InstaPay and PESONet transactions




Philippine Savings Bank (PSBank), the consumer banking arm of the Metrobank Group, further extends the waiving of fees for PESONet and InstaPay transactions made via the PSBank Mobile App and PSBank Online until June 30, 2021.

PSBank aims to continue to encourage customers to take advantage of the opportunity to send money to other banks for free as well as do #SafePSBanking from home using its mobile and online channels for easier and safer transactions amid the continued surge of COVID-19 cases in the country.

“Our top priorities always include customer safety and convenience. That is why we want to ease their worries as much as we can--especially in these challenging times--mainly through extending the waived fees for mobile and online transactions until mid-year,” says Emmanuel Tuazon, PSBank Senior Vice President and Marketing Group Head.

 

 

 


PSBank posted net income of PhP439 million for Q12021; income before provisions up 8%

PSBank building photo

Philippine Savings Bank’s (PSBank) pre-provision operating profit was up 8% to PhP1.61 billion from a year ago owing to increase in other operating income, reduction in expenses and improved margins arising from reduced cost of funds. As the bank sustained its conservative provisioning strategy with a 39% increase versus last year, PSBank posted PhP439 million net income for the first quarter of 2021.

Gross revenues stayed flat year-on-year at PhP3.77 billion. Net interest income contracted slightly by 3% to PhP3.14 billion. Low-cost CASA deposits grew 12% to PhP67.86 billion, resulting in improvements in asset margins to compensate slower demand for retail loans during the pandemic. The Bank continued to reap benefits out of its operational productivity and efficiency initiatives. Operating expenses saw a decline of 6% from same period last year. Cost-to-income ratio further improved to 57% from 69% recorded last quarter.

“As the pandemic continues to affect the business environment, prudence dictates that we maintain a conservative stance on our provisioning to cushion any potential risks on asset quality. Our balance sheet has remained very stable with ample liquidity, and our capitalization strong. These ensure that the Bank is in the best position to take on opportunities when the economy starts to recover,” PSBank President Jose Vicente L. Alde said.

The Bank’s capital position was at PhP34.64 billion as of quarter-end 2021. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) further improved to 21.0% and 19.7% respectively, close to double the regulatory minimum. Total assets closed PhP227.5 billion, up 4% from December 2020. Net non-performing loans ratio went down to a manageable 4.3% from 5.2% of previous quarter-end.

PhilRatings gave PSBank the highest Issuer Credit Rating of PRS Aaa (corp.) with a Stable Outlook citing on the Bank’s strong capitalization thus having a strong capacity to meet its financial commitments relative to other Philippine corporates.

PSBank is the thrift banking arm of the Metrobank Group.


PSBank Annual Report Bags Silver Anvil Award

PSBank Annual Report Bags Silver Anvil Award

Philippine Savings Bank (PSBank) recently won a Silver Anvil for its 2019 Annual Report at the recently concluded 56th Anvil Awards.


The PSBank 2019 Annual Report entitled Redefining Journeys – Crossing Another Decade, showcased the significant changes the Bank made in its processes and systems, the way it effectively harnessed data and technology, and how it was able to engage its customers more actively by embedding a culture of service across all levels of the organization -- all geared towards making a positive impact in the lives of its customers.

The report’s theme Redefining Journeys conveys how the bank sets itself apart by elevating customer experience through employee enablement.

The annual Anvil Awards of the Public Relations Society of the Philippines recognizes public relations programs and tools that meet the highest PR standards. It is one of the most coveted prizes in the Public Relations industry as entries undergo a rigorous screening process handled by a distinguished multi-sectoral jury.



PSBank posted 31% growth pre-provision income; reports Php 1.108 Billion net income


PSBank
Philippine Savings Bank’s (PSBank) operating income surged to 31% before provisions to Php7.45 billion last year.  This enabled the Bank to set aside additional loan loss provisions to three times over to Php6.40 billion in view of the ongoing pandemic conditions. The Bank closed 2020 with Php1.108 billion net income.


“On the back of a strong balance sheet and capitalization, the Bank stayed resilient amidst the challenges of 2020.  As a matter of strategy, we took a conservative stance on credit provisioning in anticipation of risks associated with the pandemic.  The Bank prioritized the safety of its employees and customers by quickly instituting Covid-19 safety protocols.  We strengthened our digital platforms and made them reliable as the demand for digital banking services exponentially rose,” PSBank President Jose Vicente L. Alde said.

Gross revenues was 13% higher at Php16.57 billion. Net interest income showed improvement by 21% to Php 13.75 billion, owing to a significant growth in low cost CASA deposits and the decline in interest of term deposits. CASA deposits grew 16% to Php67.25 billion from Php58.18 billion. In line with initiatives to improve operating efficiencies, operating expenses were kept in check and increased by only 2%.

PSBank’s capital position remained strong at Php34.51 billion. Total Capital Adequacy Ratio and Common Equity Tier 1 Ratio (CET1) further improved year-on-year to 19.4% and 18.1% respectively. Both are above the statutory requirement of 11% set by the Bangko Sentral ng Pilipinas. Total assets closed at Php219.41 billion. Net non-performing loans ratio was at a manageable 5.2%.

The Philippine Rating Services Corporation (PhilRatings) assigned PSBank the highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, citing on the Bank’s highly-experienced management team and strong capitalization thus having a very strong capacity to  meet its financial commitments relative to that of other Philippine corporates.

In 2020, digital enrolments and utilization increased 56% and 143% respectively. The Bank waived fees for interbank transfers thru InstaPay and PESONet to further promote digital payments. By mid-year, PSBank made available the booking of time deposits via Mobile and launched the national standard-compliant QR Code for use in fund transfers/payments. For the safety and convenience of loan customers, settlement of PSBank loans via InstaPay was also made available in the last quarter of the year.

“As the economy slowly opens up in 2021, we shall remain positive and hopeful that our recalibrated business models will deliver and continue to adapt to the new environment. We will continue to pursue our digital transformation roadmap by delivering on what is relevant and simple for the customer,” President Alde added.


Good to Know: This 2020, Save Up to Level Up with PSBank

Each new year comes with the promise of a better future for many individuals and families. To most, it is the opportune time to achieve new goals, to upgrade standards of living, and to seize new, exciting opportunities.

PSBank, everyone’s “simpleng maaasahan” bank recognizes the importance of this period, marked by resolutions and commitments — and invites all to make a firm, positive decision to progress in the attainment of their aspirations, through the act of purposefully saving money.

The Bank believes that this allows one to level up, to grab what the new year and the new decade has to offer to those who actively prepare for it.

Look through these exciting ways on how you can grow your funds surely and securely this 2020 through PSBank’s Savings Account offerings:

PSBank ATM Savings – Commit to have an Average Daily Balance of PhP5,000, and have the benefit of earning a fixed interest rate as you further save. Access your account securely any time of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide. You can also avail hassle-free settlements of your utility and credit card bills, and experience the convenience of cashless shopping through BancNet’s electronic payment facility.

PSBank Regular Passbook Savings – Whether you’re saving up for an investment, a special life event, or an emergency fund, you can be assured that PSBank will make it easy for you. Having a Regular Passbook Savings Account gives you the benefit of also earning a fixed interest rate, and provides you a convenient way to monitor all your transactions.

PSBank Passbook with ATM – Maintaining a Passbook with ATM account with PSBank offers more than convenience and fixed interest rates. It also comes with a PSBank Debit Mastercard that allows you to safely access your funds, whether you are in the country or abroad.

PSBank Kiddie and Teen Savers – For those with children, starting kids early on the habit of saving will impart a discipline that will carry them throughout life. PSBank’s Kiddie and Teen Savers accounts are accompanied by free personal accident insurance from the Charter Ping An Insurance Corporation, allowing your child or teen the possibility of getting coverage equivalent to five times the value of the Average Daily Balance. These accounts may be opened as In-Trust-For (ITF) accounts, as joint accounts, or as individual accounts for each of your children.

PSBank Personal Checking Account – Possess check-writing flexibility for worry-free payments of your bills and other financial transactions whenever you need it. Open this account at any of the Bank’s branches and enroll in PSBank Mobile and PSBank Online to experience delightful banking moments.

PSBank’s Senior Vice President and Marketing Group Head Emmanuel Tuazon says, “As we enter this new year, we want to give our customers the ability and resources to become their best selves, through disciplined saving. We are confident that our suite of diverse Savings Accounts will allow them to do just that, and more — by instilling in them the importance of being prepared, and of having the mindset of constant improvement. We invite everyone to check out all of our products and services today.”


Good to Know: Embrace New Beginnings, Partner with PSBank this 2020

The New Year is undoubtedly one of the most exciting times of the season. This is the period when people, young and old alike, take the chance to remember the events of the year that has passed and look forward to the many opportunities that are in store for them.

As families and individuals enter a new decade, goals are created, revived, and are actively set in place. PSBank, as everyone’s “simpleng maaasahan bank” recognizes these aspirations in the lives of its customers — and purposefully presents solutions that allow it to be a reliable, consistent partner in the achievement of these important plans.

With its wide, innovative, and secure range of banking services and products, PSBank ensures that excuses fly out of the window — surely, there is no better time to seize the moment and take the chance to live life to the fullest.

Check out these PSBank offerings today, and see how you can make 2020 your best year ever:

PSBank ATM Savings – Grow your money and have the benefit of earning a fixed interest rate with a bank you can trust, as you work towards accomplishing your goals. Have the privilege of accessing your account anytime of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide.

PSBank Cardless Withdrawal – Forgot your ATM? PSBank assures you that you don’t have to worry about it, ever. With just a few taps on your smartphone, you’ll able to safely withdraw your hard-earned cash from over 599 ATMs nationwide. That’s peace of mind — ight in the palm of your hand.

PSBank Mobile Check Deposit – New year, new way of depositing checks. No longer do you have to physically go to a bank to get them cleared. Now all you have to do is take a photo through PSBank’s Mobile App, and you’re all set.

PSBank PaSend – Sending cash is no longer a chore with this remittance service. For a very minimal transaction fee, you can easily send money to family, friends, and partners, anytime and anywhere — even to those who don’t have an account with the Bank. The funds you send may be withdrawn 24/7 at any PSBank or Metrobank ATM.

PSBank Time Deposit – Be more as you do more with your money. With PSBank’s Time Deposit offering, not only do you enjoy a low initial deposit amount, but you also gain profit in as fast as 30 days. Talk to PSBank and we’ll help you understand and manage your account as our firm commitment.

PSBank Auto Loan – Have you been eyeing a new car for your family or for yourself? PSBank has got you completely covered. Offering competitive interest rates and a fast approval time, the Bank will surely make possible the deal you’ve been craving for. Enjoy the bank’s Prime Rebate feature when you avail its Auto Loan which lets you earn discounts on your loan when you make advance or excess payments on your monthly due.

PSBank Home Loan – Experience the family lifestyle you’ve been working so hard for this coming year through PSBank’s Home Loan. Enjoy loan approval in as fast as 24 hours, with convenient terms, and even better rewards. Benefit from Bank’s Prime Rebate feature — making the process of purchasing your new house even more fulfilling.

PSBank Personal Loan – This 2020, have the funds that will enable you to realize your travel and other life goals. PSBank’s Flexi Personal Loan, which also comes with Prime Rebate, is a collateral-free personal loan product with a revolving credit line and a fixed-term loan. The product comes with an ATM card, allowing you access to day and night banking from PSBank ATMs nationwide.

PSBank Money Market Fund – Create new possibilities in the coming decade: instead of being just a depositor, be an investor! With PSBank’s Money Market Fund, the Bank’s first Unit Investment Trust Fund (UITF), you can have a team of experts closely manage your investment for a minimum of PhP10K. These partners will choose from different low-risk financial instruments to optimize your returns, giving you an affordable liquid investment option. Now is the time to invest in your future!

PSBank’s Senior Vice President and Marketing Group Head Emannuel A. Tuazon says:

“Celebrate new beginnings this year with the Bank that journeys with you everyday, a trusted and reliable group that puts your best interests at the heart of everything it does. With PSBank’s full suite of future-ready offerings, you can now confidently seize opportunities and make this new year, this new decade, a time of turning your big dreams into reality. We invite you to check out our products and services today!”




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