PSBank eyes higher income in 2009

MANILA, Philippines - The Philippine Savings Bank (PSBank) is looking to grow its net income in 2009 by 17 percent to P1.1 billion. Deposits are targeted to grow by 11 percent and loans by nine percent.

Meanwhile, the thrift bnak of the Metrobank Group snatched the “Best in Corporate Governance Disclosure among Financial Institutions” for its “PSBanking: As Simple As Connecting The Dots” 2007 annual report.

This is the second straight year that PSBank won the distinction in the Management Association of the Philippines’ (MAP) Best Annual Report Awards. It is also the third consecutive year that PSBank was chosen as one of the finalists, besting 49 other companies in the annual competition.

The 6^th Best Annual Report Awards recognized companies who practiced good governance by adhering to transparency, accountability, fairness and compliance with international standards of financial reporting. Last year, PSBank also received the Philippine Gold Quill Award of Excellence for its 2007 annual report.