PSBank declares 15¢ cash bonus

MANILA, Philippines - Philippine Savings Bank (PSBank), the thrift bank unit of the Metrobank Group, has declared another cash bonus to its stockholders for the fourth quarter of 2012 amounting to P180.19 million.

In a disclosure to the Philippine Stock Exchange, PSBank senior vice president and chief finance officer Perfecto Ramon Dimayuga Jr. said the bank’s board approved a 75-centavo cash dividend to all its common stockholders.

Dimayuga said they have yet to set the record date for the cash dividend, pending approval by the Bangko Sentral ng Pilipinas (BSP).

For the past months, PSBank has been maintaining its healthy financial performance.

The bank has also kept the PRS Aaa rating for its P3-billion unsecured subordinated notes, the highest rating assigned by PhilRatings.

PSBank is the country’s second-largest thrift bank, with assets of P109.4 billion as at end-September 2012. It had a distribution network of 213 branches and 532 automated teller machines (ATMs).

PSBank has a well-defined growth strategy, which continues to focus on the retail and consumer market, PhilRatings said.

The bank, the rating agency said, has also responded to increased competition by going on an aggressive expansion mode, characterized by the continuous improvement of the bank’s systems and processes, expansion of its network, and the creation of new products and services.