Philippine Financial savings Bank (PSBank) declared 7.5-percent common cash dividends for the second quarter, amounting to a complete of P320.14 million.
The subsidiary of Metropolitan Bank & Belief Co. (MetroBank), mentioned that its board of administrators accepted the distribution of P0.75-per-share dividend to widespread stockholders throughout a gathering final week.
All of the stockholders will obtain cost by August 24. PSBank declared dividends for the primary quarter in April, with the cost settled not later than May 21. It additionally amounted to P320.14 million or P0.75 per share.
This month, the listed bank launched PSBank Cellular Time Deposit placement which is a digital service permitting purchasers to open peso time deposits by way of cell phone.
The Metrobank shopper banking arm mentioned that this providing is an funding possibility for patrons who’ve additional funds keen to be put aside for as much as 90-day interval to earn fixed-rate returns. PSBank is requiring a minimal placement of P10,000 to open a peso time deposit account.
Within the first quarter, the bank noticed its earnings decline by 5.1 p.c to P646.2 million on the again of upper buffer in opposition to potential enhance in credit score loss amid the pandemic. Internet curiosity earnings for the interval improved to 21.Eight p.c to P3.2 billion year-on-year whereas web companies charges reached P458.1 million.
Complete loan portfolio, in the meantime, climbed by 3.6 p.c to P165 billion within the first three months, bringing 1.8-percent development for complete belongings at P240.Three billion. The bank’s capital adequacy ratio was 17.2 p.c as of end-March, which is above regulatory minimal of 10 p.c.
“PSBank has a strong balance sheet and capital position coming into this unprecedented situation,” PSBank President Jose Vicente Alde mentioned in an earlier disclosure.