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)

Aug 4, 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 P2.17Bn 1H2023 Net Income, Up 18%
Background/Description of the Disclosure
PSBank, the thrift banking arm of the Metrobank Group, grew its net income for the first half of 2023 to Php 2.17 billion, up 18% versus Php 1.84 billion the same period last year. This resulted in a higher return on equity of 11.4% compared to 10.4% in the first six months of 2022. The continuing uptrend in the Bank’s consumer loan releases, improvement in credit quality, and gains realized from productivity and efficiency initiatives further strengthened the Bank’s platform for sustainable earnings in the post-pandemic era. Core revenues, composed of net interest income from loans and investments including fees, grew by 8% to Php 6.8 billion from Php 6.3 billion a year ago. Operating expenses remained subdued and was reduced by 2% as a result of ongoing cost optimization projects. PSBank’s total loan portfolio expanded by 9% to Php 120 billion as of June 2023. This was primarily driven by the 21% increase in auto loans owing to the steady influx of demand for vehicle financing. Despite the portfolio increase, gross non-performing loans dropped by 11% resulting in a NPL ratio of 3.5%, better than pre-pandemic levels. The Bank's total resources stood at Php 235 billion while total deposits reached Php 187 billion by mid-2023. Capital improved by 7% to Php 39 billion with Total Capital Adequacy Ratio at 24.6% and Common Equity Tier 1 Ratio at 23.7%. Both ratios are above the minimum level set by the Bangko Sentral ng Pilipinas (BSP) and among the highest in the industry. The Bank’s Quarterly Report (SEC Form 17-Q) shall be submitted once available.
Other Relevant Information
Please see attachment. Thank you.