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PSE Stock: PHILIPPINE SAVINGS BANK (PSB)

vgal0579 · 2 · 1555

vgal0579

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on: Mar 01, 2012, 10:03 AM
Dividend Declaration:

PSB Board of Directors has approved an increase of dividend from 6% to 30% this year.  This increases the dividend from PhP 0.60 per share to PhP 3.00 per share.

http://www3.pse.com.ph/resource/disclosures/2012/pdf/dc2012-1682_PSB.pdf

 :D
« Last Edit: Aug 08, 2012, 01:23 PM by FutureGizmo »


vgal0579

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Reply #1 on: Aug 06, 2012, 10:48 AM
PSBank revises loan growth higher

PHILIPPINE SAVINGS BANK (PSBank), the thrift banking arm of the Metrobank Group, raised its loan growth target for the year to 20% after seeing high loan demand in the first semester and as it anticipates to book higher loan volumes amid a low interest rate environment.
  “The outlook for the bank for the second half of the year looks good because there is a higher level of confidence in the country and the economy, and local businessmen are more upbeat in expanding their businesses,” PSBank President Pascual M. Garcia III told reporters on Friday night.

“We will surpass our target for the year in so far as loan growth is concerned because of all the positive factors,” he added.

“We see our loan portfolio growing by around 20% this year.”

PSBank had set a 10% loan growth at the start of the year.

Mr. Garcia said despite the pressure on the bank’s margins due to stiff competition among lenders, the Bangko Sentral ng Pilipinas’ (BSP) recent rate cut will spur demand for loans.

“Although margins are pressured because all banks are more competitive now offering products to gain a greater market share... the rate cut helps develop the demand for loans,” he said.

The BSP last July 26 cut its overnight borrowing and lending rates by 25 basis points to 3.75% and 5.75%, respectively, to support the domestic economy.

Mr. Garcia said demand has been noted for all loan products.

“We’ve seen great loan demand across all products, whether it is auto, mortgage or personal loans, corporate loans or business loans,” he said.

As of end-June, PSBank saw its gross consumer loans rise by 14.14% to P67 billion. Its mortgage loan portfolio expanded by 14%; auto loans by 15%; and corporate loans by 28%.

With loan demand to be healthy, Mr. Garcia said PSBank is “on track” to hitting its P2.2-billion net income target for the year.

The bank booked P1.38 billion in the first half, 51% more than a year earlier.

Mr. Garcia also said that with the rise in consumer demand due to a low interest rate environment, the Philippine economy can sustain its growth.

The domestic economy grew by 6.4% in the first quarter. The National Statistical Coordination Board is scheduled to release the second-quarter gross domestic product data on Aug. 30.

“I am a bit more positive about it (the country’s growth) especially after the BSP cut its key rates to help stimulate demand further,” he said.

PSBank shares closed unchanged at P86 apiece last Friday. -- Ann Rozainne R. Gregorio


 


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