Philippine Savings Bank (PSBank) marks its 64th anniversary with a continued commitment to delivering simple, reliable, and innovative banking services that help Filipinos achieve their financial goals, from growing their hard-earned money, to homeownership, vehicle financing, and more.
PSBank is an industry trailblazer in innovative and future-ready banking, and is the country’s consumer and retail bank of choice for more than 60 years. Its primary objective of delivering quality customer service, simplified processes, quick credit decisions, and consumer-focused products are underscored by a clear promise: Simple Lang, Maaasahan.
It is the retail banking arm and a subsidiary of the Metropolitan Bank and Trust Company. To date, PSBank’s nationwide network has already reached 250 branches and 500 in-branch and offsite ATMs – ready to serve its ever-growing client base.
PSBank’s sustained financial growth is fueled by strong loan demand and a customer-focused approach. In 2023, the bank achieved a record-high net income of P4.53 billion, a 23 percent increase from the previous year.
The first half of 2024 saw continued success, with net income reaching P2.56 billion.
PSBank stands as the leading thrift bank in the Philippines in terms of total assets as of end-March 2024, further cementing its strong position in the consumer banking sector and maintaining leadership in the auto loan market among local thrift banks.
PSBank has been making strides in simplifying the loan application process, offering quick and easy approvals to customers looking to invest in homes and vehicles. PSBank aims to help Filipinos move forward with their financial goals without delay.
The bank’s total gross loan portfolio registered a 10 percent growth or P132 billion by the end of June 2024 versus last year’s P120 billion, with auto loan as its driver for growth.
With its commitment to making loan approvals fast and easy, PSBank ensures that Filipinos can access their financial needs with minimal hassle. It also has a wide variety of home loan accredited developers and auto loan partners that aspiring homeowners and car buyers can choose from.
Throughout its 64-year history, PSBank has consistently embraced innovation to meet the evolving needs of its customers. With the commitment to being always forward, over the years the bank introduces products and services to make Filipinos banking transactions more straightforward and seamless.
PSBank Mobile app enables customers to manage accounts and make transactions anytime, anywhere.
Its online account opening only requires one valid ID, a selfie, and a few taps on the app, one can open a Peso Savings account.
Mobile Time Deposit placement, meanwhile, allows opening a time deposit via the app for a minimum placement of P10,000 and it can earn within 30, 60, or 90 days.
No need to take a bank errand when depositing checks to have it cleared. Simply take a photo using PSBank Mobile and the check will automatically be deposited (for clients with at least P50,000 average balance).
Apart from the bank’s mobile app bills payment service, in 2023, PSBank allowed payments via quick response (QR) code for billings issued by participating merchants using QR Ph, the country’s QR code standard.
This enhancement not only leads to better and more effortless customer and merchant experiences, but also to greater usage of digital payments aligned with the BSP’s push for a cashless society.
The bank’s ongoing digital transformation also includes cutting-edge services like cardless withdrawal wherein PSBank ATM cardholders can withdraw at any PSBank ATMs even without their cards; Queue Anywhere service allows clients to create a queue ticket for their bank transaction online to skip the wait time at lining up during their branch visit. For those traveling to the North or South of Luzon, one can load Autosweep and Easytrip Toll RFIDs real-time with PSBank’s Toll RFID reload feature.
In continuously stepping up its efforts to assure clients that there are systems in place in securing their accounts, clients can lock access to their accounts on platforms they don’t usually use, ensuring that access to their PSBank accounts is restricted to their preferred and regularly utilized channels. They also have the option to lock or unlock their ATM card, an extra layer of security against unauthorized transactions.
PSBank is always forward to simplifying every Filipino’s banking experience and to push it further, PSBank launched the “Ito Simple” campaign, reinforcing its commitment to simplicity and reliability. This campaign depicts the rawness of the daily routine and usual life struggles of most Filipinos–there may be the hard way of doing things, but there is also the PSBank way— providing accessible and straightforward financial solutions that meet their everyday needs.
