SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

May 8, 2023

2. SEC Identification Number

15552

3. BIR Tax Identification No.

000-663-983-000

4. Exact name of issuer as specified in its charter

Philippine Savings Bank

5. Province, country or other jurisdiction of incorporation

Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

PSBank Center, 777 Paseo de Roxas cor. Sedeño St., Makati City Postal Code 1226

8. Issuer's telephone number, including area code

8885-8208

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	426,859,416

11. Indicate the item numbers reported herein

Item 9 Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Philippine Savings BankPSB

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
PSBank Posts Double-Digit Growth in 1Q2023 Net Income
Background/Description of the Disclosure
PSBank, the thrift banking arm of Metrobank Group, reported Php976.88 million in net income for the first quarter of 2023 or a 10% jump compared to the first quarter of last year. This double-digit increase was propelled by expansion in consumer loan portfolio, improvements in credit quality and prudent expense management. The Bank's net interest income rose by 8% year-on-year to Php2.95 billion, while net service fees increased by 7% at Php464.60 million. Operating expenses were lower by 5% to Php2.19 billion as the Bank continued to pursue cost optimization strategies resulting from initiatives on operational efficiency. Gross loans as of March 31, 2023 increased by 4% to Php116.00 billion versus same period last year due to higher consumer demand as the country’s economy opened up. The Bank’s auto loan portfolio grew by 13% year-on-year on the back of higher demand for car financing. Improvements in asset quality were sustained with gross non-performing loans (NPL) ratio improving to 3.2% from 5.0% last year. Total assets reached Php255.76 billion as of 1Q2023 while deposits amounted to Php209.81 billion with low-cost CASA funds totalling Php73.29 billion. PSBank’s capitalization remains strong at Php37.82 billion, with total capital adequacy and tier 1 ratios standing at 24.6% and 23.8%, respectively. Both ratios are well above the regulatory minimum and are among the highest in the Philippine banking industry.
Other Relevant Information
Please see attachment. Thank you.