PSBank gets Aaa rating
MANILA, Philippines - Philippine Savings Bank (PSBank), the retail banking unit of Metropolitan Bank and Trust Co. (Metrobank), has received an issuer rating of PRS Aaa from Philratings.
An issuer rating of PRS Aaa means that the company has a very strong capacity to meet its financial commitments relative to that of other Philippine corporates. A PRS Aaa is the highest corporate credit rating assigned on the PRS scale.
PSBank is the country’s second largest thrift bank (TB) in terms of assets, loans, deposits and capital as of Dec. 31, 2013.
Based on its published balance sheet, PSBank’s market share of the thrift banking sector stood at 16.7 percent of assets, 16.8 percent of deposits, and 19.6 percent of loans.
In February 2014, PSBank applied for a domestic issue credit rating for its proposed P3 billion unsecured subordinated notes. The proposed notes issue was also assigned a rating of PRS Aaa.
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