Philippine Savings Bank (PSBank) celebrates its 64th anniversary, focusing on providing simple, reliable, and innovative banking services to help Filipinos achieve financial goals. Strong loan demand and a customer-focused approach drive the bank’s economic growth. In 2023, it achieved a record-high net income of PhP 4.53 billion, a 23% increase from the previous year. In the first half of 2024, net income reached PhP 2.56 billion. PSBank remains the leading thrift bank in the Philippines, maintaining leadership in the auto loan market.
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% growth or PhP 132 billion by the end of June 2024 versus last year’s PhP 120 billion, with auto loans as its driver for growth. With its commitment to making loan approvals fast and easy, PSBank ensures Filipinos can access their financial needs with minimal hassle. It also has various home loan accredited developers and auto loan partners from which aspiring homeowners and car buyers can choose.
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, the Bank has introduced products and services over the years to make Filipinos’ banking transactions more straightforward and seamless.
PSBank Mobile app enables customers to manage accounts and transact 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 PhP10,000, and it can be earned within 30, 60, or 90 days—no need to take a bank errand when depositing checks to have it cleared. Take a photo using PSBank Mobile, and the check will automatically be deposited (for clients with at least a PhP50,000 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 leads to better and more effortless customer and merchant experiences and more significant 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 ATM even without their cards. Queue Anywhere service allows clients to create a queue ticket for their bank transaction online to skip the wait time when lining up during their branch visit. For those traveling to the North or South of Luzon, one can load Autosweep and Easytrip Toll RFIDs in real-time with PSBank’s Toll RFID reload feature.
In continuously stepping up its efforts to assure clients that there are systems in place to secure 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 looking forward to simplifying every Filipino’s banking experience and pushing 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.
For more information on PSBank’s products and services, visit psbank.com.ph or follow PSBank on Facebook, Instagram, and TikTok.
