Philippine Savings Bank (PSBank) reported a net income of P944 million in the first quarter of 2026, down 22 percent year on year, reflecting a cautious approach to risk amid geopolitical uncertainties and broader economic headwinds.
In a Friday disclosure to the stock exchange, the bank said earnings were tempered by higher loan provisioning, which rose 73 percent to P716 million as it strengthened buffers against potential credit risks stemming from the Middle East conflict’s impact on the Philippine economy.
The figure represents a roughly 22 percent decline from P1.21 billion in the same period last year.
Other banks saw earnings growth moderated
Other major Philippine banks also saw earnings growth moderated by heavier provisioning given the tighter financial conditions set by the energy shock in the first quarter of 2026.
However, most still posted modest profit increases supported by loan growth and stronger core revenues.
Metrobank, PSBank’s parent bank, reported first-quarter net income of P12.6 billion, up about 2.4 percent year on year, as it maintained strong buffers, with its non-performing loan coverage ratio at 137.1 percent while continuing to build reserves against potential risks.