PHILIPPINE Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, on Friday reported first-quarter net income of P944 million, down from P1.21 billion a year earlier as higher credit provisions weighed on earnings.
In a disclosure, the bank said results reflected a more cautious provisioning stance amid geopolitical uncertainty and lingering macroeconomic headwinds.
Total loans expanded three percent year-on-year to P156 billion, driven by growth in auto, mortgage and small and medium enterprise lending.
Net interest income rose three percent to P3.36 billion but was offset by a sharp increase in credit provisions, which jumped 73 percent to P716 million as the bank built up buffers against potential credit risks.
Asset quality remained manageable. Gross non-performing loans (NPL) stood at 3.6 percent as of end-March 2026, slightly better than 3.7 percent at end-2025 and well below the 6.4-percent industry average for thrift banks.
On the funding side, total deposits increased four percent year-on-year to P177 billion, supported by continued customer acquisition through branch expansion and digital onboarding channels.
Capital levels remained strong, with total capital reaching P46 billion. The capital adequacy ratio stood at 23.9 percent while the common equity tier 1 ratio was at 22.9 percent, both well above regulatory minimums.
PSBank said its strong capital position provided a sufficient buffer against emerging risks amid ongoing market volatility.
The bank shares on Friday slipped P0.65, or 1.14 percent, to close at P56.55 each.
