Asiatrust Bank posts P125-M net income

Asiatrust Bank, a leading thrift bank for SMEs and entrepreneurs, posted a net profit of P125 million at the close of its fiscal year in June 2008.

Asiatrust attributed its sound performance to its improved risk management system, focused marketing strategies and innovative sales and service programs for customers. Back-to-basics banking with traditional and simple retail deposit products have boosted overall performance with lower cost funds and better spreads. Management trainings on customer relations and services have likewise improved business at Asiatrust Bank.

Asiatrust Bank said it remains steadfast in its commitment to help entrepreneurs and to further strengthen its SME banking franchise. With the global economic slump in the US and parts of Asia, the bank cited the importance of resiliency, especially in these times.

“The bank continues to focus on SME banking amidst the high uncertainty surrounding the economy. The bank will continue to lend to SME but will remain prudent, adhere to safe and sound traditional banking business based on trust and solid relationship built over the last 48 years,” said Dionisio C. Ong, president and CEO of Asiatrust Bank. “The bank has built a good base of long time, loyal SME customers,” he added.

Asiatrust Bank offers highly customized bank products and has received recognition for its innovative cash management services for SMEs. Bank services include the easy checkwriter, easy payroll, cash and check deposit pick-up services, postdated check warehousing, e-statements and auto-sweep facility – all designed to make business operations more efficient and productive for SMEs.

The bank continues to provide practical, easy to avail financial assistance with customized loans and deposit products/services for micro businesses, SMES, and salary loans for employees. Convenience is made available with longer banking hours and easy to access customer hotline which can easily be reached at these landline numbers: 924-5777 or 924-5778.

Loans for small and medium-scale industries are offered to help spur micro-economies. “SME loans account for 31 percent of the total bank portfolio, amounting to P1.589 billion while housing loans under Contracts to Sell account for 26 percent of the total bank portfolio amounting to P1.347 billion,”, the bank said.

SME loans exposure are in the following industries: in wholesale and retail trade 53 percent, manufacturing at 23 percent and real estate at 15 percent.

Established in 1960, Asiatrust Bank moves forward at a time where trust and confidence is key to sustaining business stability. Earnings are expected to slow down this fiscal year as a cautious stance is taken in the present business climate. “The bank is committed to weather the financial turmoil that is facing the globe through delivery of quality banking services to our customers, prudent and ethical banking practices, and capital preservation initiatives,” Ong said.