C00954-2024

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)
Feb 23, 2024
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 All-time High Net Income of Php 4.53 Billion, Up 23% in 2023
Background/Description of the Disclosure

PSBank, the thrift banking arm of the Metrobank Group, reported a record-high net income of Php 4.53 billion for the full year 2023, up 23% from Php 3.68 billion in 2022. This translates to a return on equity of 11.7%. The Bank’s strong financial performance came from the double-digit growth in loans, higher investment revenues and muted costs brought by operational efficiencies. Net interest income improved to Php 11.83 billion, increasing by 7% year-on-year while operating expenses declined by 1% due to continuous cost optimization efforts of the Bank.

"This significant milestone was a result of team work and steadfast commitment of PSBankers in delivering effortless banking to our clients and stakeholders. We want to leverage on this momentum to expand our coverage, provide diversified offerings and further invest in technology to level up customer experience in the succeeding years”, President Jose Vicente L. Alde said.

PSBank’s gross loan portfolio expanded by 12% to Php 125 billion from previous year’s Php 112 billion. Auto loans grew by 24% driven by higher demand on vehicles. Despite the increase in the Bank’s loan portfolio, gross non-performing loans ratio decreased year-on-year from 3.5% to 3.3% at the end of 2023, indicating better credit quality.

As of December 31, 2023, total assets closed at Php 238 billion while total deposits reached Php 190 billion. The Bank’s capital registered at Php 40 billion with total capital adequacy ratio and common equity tier 1 ratio at a sturdy level of 24.5% and 23.6%, respectively. The capital ratios are above the minimum levels set by the Bangko Sentral ng Pilipinas and among the highest in the industry.
Other Relevant Information

Please see attachment. Thank you.
Filed on behalf by:
Name Maria Teresa Bardon
Designation Regulatory Compliance Officer