PSBank head office in Makati—Contributed photo
MANILA, Philippines — Philippine Savings Bank (PSBank) saw its first-half net income decline 39.8 percent to P1.3 billion, as the bank sharply increased loan provisions amid challenging market conditions.
Despite the earnings decline from P2.16 billion a year ago, the thrift banking arm of the Metrobank Group said on Friday its core revenues remained resilient, with net interest income growing 2 percent to P6.7 billion.
READ: Higher provisions drag down PSBank earnings
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