PSBank names new president

MANILA, Philippines — Listed Philippine Savings Bank (PSBank) has appointed bank director and executive vice president Jose Vicente Alde as its new president, replacing Vicente Cuna who was appointed vice chairman of the thrift bank.

Alde, 51, joined the thrift bank arm of Metropolitan Bank & Trust Co. (Metrobank) in 2007 and has more than 23 years of banking experience, formerly holding key senior management positions in ABN AMRO and BA Savings banks.

Alde holds a Bachelors degree with honors in Computer Science from the University of the Philippines, and a Masters in Business Management from the Asian Institute of Management.

He is currently the chairman of Metrobank’s Sumisho Motor Finance Corp.

On the other hand, Cuna who has served PSBank president since 2013, would also assume another key executive position within the Metrobank Group.

Cuna led PSBank’s digital transformation and customer experience management journey with the end goal of making the bank recognized as the banking leader in providing exceptional customer experience at every encounter.

With his departure from the bank as president, PSBank would be turned over to equally capable hands to ensure continuity of the bank’s overall business strategy and vision.

The country’s second largest thrift bank booked an 8.3 percent increase in earnings to P2.7 billion last year from P2.5 billion in 2016 amid the continued strong performance of its core businesses.

PSBank’s loan book climbed by 13.3 percent to P146.3 billion last year from P129.2 billion in 2016, while its deposits base rose by 19.3 percent to P188.9 billion from P158.4 billion.

The bank’s total resources went up by 13.4 percent to P223.3 billion last year, while total equity rose by 11.8 percent to P22.4 billion.