PSBANK net result, new AISIN marketing campaign, GOGO Xpress
PSBank net profit up 102% in Q1 2022
Philippine Savings Bank (PSBank), the savings banking arm of Metrobank Group, posted a net profit of Php 888 million for Q1 2022, up 102% year-on-year. The surge in net income was attributable to income from other operating income and improved asset quality.
The Bank’s net interest income reached 2.7 billion pesos, while service charges and fees rose 14% as demand for loans increased when quarantine restrictions were eased. Non-interest income also increased by 190% due to increased business activity. This was offset by a 6% increase in operating expenses due to higher volume, albeit contained through continued improvements in productivity and operational efficiency.
The quality of the Bank’s assets improved further, which led to a reduction in loan provisioning by 68% to 346 million pesos against 1.1 billion pesos a year ago. Gross non-performing loans returned to pre-pandemic levels, posting a 30% decline from the same period last year.
The Bank’s balance sheet has strengthened. Total assets increased by 16% to reach Php 263 billion year-on-year. Total deposits jumped 24% to Php217 billion, with checking and low-cost savings deposits growing 9%. Capital position improved by 2% to reach Php 35 billion at the end of Q1 2022. Total capital adequacy ratio and Common Equity Tier 1 ratio improved to 24, 5% and 23.4%, respectively. Both ratios remain above the regulatory minimum.
Despite market challenges mainly caused by the health crisis, PSBank maintained its issuer credit rating of PRS Aaa (corp.) with a stable outlook from the Philippine Rating Services Corporation (PhilRatings). This rating reflects the company’s very strong ability to meet its financial commitments compared to other Philippine companies; and considered unchanged over the next 12 months.
Aisin unveils new marketing campaign
The world’s leading manufacturer of high-quality auto parts, Aisin, has unveiled its new marketing campaign as part of its ever-growing success in the Philippines.
As he progresses into the new normal, Aisin Philippines is also launching other plans and projects for this year. This dynamic new campaign is a great way to share all the exciting news coming in 2022 and beyond.
The campaign was unveiled at the launch ceremony, in the presence of its dealers, business partners and loyal customers. As part of the event, Aisin Philippines also recognized and rewarded its dealers and valued customers for their efforts in fiscal year 2021.
Underlining the theme “The Future is Inside”, Aisin continues its successful collaboration with brilliant innovators who help the company deliver cutting-edge and sustainable mobility solutions for the market.
Aisin’s powerful team of engineers and designers also showcased the brand’s innovative solutions and ever-growing product portfolio.
The event also highlighted Aisin’s message of bringing out the “power of the unseen”, as it continues its roadmap of delivering advanced automotive equipment parts that have long been part of our safe and smooth journey on the road.
GoGo Xpress to double merchants, shoppers
QuadX plans to double to 3 million and 40 million sellers and buyers, respectively, using its GoGo Xpress logistics platform as it rolls out more seller features and tools that would benefit merchants and customers.
“To date, we have successfully connected nearly 1.5 million casual social sellers to more than 20 million shoppers,” said Mia Bulatao, president and chief operating officer of GoGo Xpress, during a Wednesday press conference.
GoBenta for one is an enhancement to the Sell-A-Product feature of GoGo Xpress, which allows sellers to create up to 100 product links that would include descriptions, stock availability and price in the GoBenta storefront.
Sellers can link their GoBenta store to their Facebook page’s chat with Messenger Shop or simply share the link on their social networks, so that online shoppers can easily visit and check out the items they want to buy.
Buyers can enter their shipping details and have the option of choosing COD without having to pay a COD service fee.
Sellers using GoGo Xpress can also create their own special discounts for items they promote with the Promo Code Generator
The Final Pitch launches Asean
Southeast Asia’s first commercial reality show designed to support and scale the region’s next unicorns, “The Final Pitch Asean (TFPA)”, is looking for tycoons and business leaders to represent some Southeast Asian countries as investor judges on the show.
After seven successful seasons in the Philippines, TFPA is expanding to the rest of the region and will feature high-growth startups and strategic investors from Southeast Asia.
TFPA is looking for investor-judges who can invest in large-scale startups that want to expand in their home country. The commercial show is now looking for representatives from Singapore, the Philippines, Malaysia, Indonesia, Thailand and Vietnam to be the face of their countries on the regionally broadcast show.
The show will initially select investor-judge candidates from each country over the next two months through a regional tour.
The Asean version will follow the same format as the highly successful Philippine edition, the show’s proof of concept that has helped over 100 startups and successfully funded millions of dollars in the Philippine startup ecosystem.
Honda Cars Philippines Inc. (HCPI) is extending its “Great Sun Deals” and offering additional exciting promotions this May.
Customers can take home an all-new Honda BR-V with exclusive treats and offers through May 31, 2022. Plus, HCPI is offering other great deals on select models.
Interested buyers can now own a brand new 22YM BR-V 1.5S CVT with these exciting offers: Promotional Discount: P60,000; all-inclusive special deposit for as low as P10,000 and; low monthly amortization for as little as P19,374
Exclusive offers include one-year free scheduled maintenance service, 30% off BR-V accessories and parts discounts.
LIMA Estate partners with PLDT Enterprise
LIMA Estate enlisted PLDT Enterprise to deploy fiber optic connectivity at its 794 hectare industrial development in Lipa-Malvar, Batangas.
LIMA Estate is a mixed-use development area that houses 130 locators, 167 retail stores and restaurants, a 138-room 4-star hotel, a transportation hub, and accommodates over 2,000 households. It also employs more than 60,000 people.
PLDT Enterprise will provide solutions and services to meet connectivity requirements in the region. These include smart postpaid plans, mobile number portability (MNP) and ePLDT services such as enterprise resource planning (ERP), cloud and cybersecurity services.
PLDT Enterprise will also activate a new Smart LTE site which will be upgraded to 5G in Q1 2022.
Chevron, don AMCHAM
Caltex, marketed by Chevron Philippines Inc (CPI) in partnership with the American Chamber Foundation Philippines, Inc. (AMCHAM) recently donated 93 refurbished laptops to various scholars and beneficiaries, including the Jesuit Bukidnon Mission.
The Jesuit Bukidnon Mission (JBM), which currently supports 100 young Lumad scholars in Mindanao, received fifty (50) laptops through AMCHAM Foundation. JBM empowers young scholars to become leaders by providing quality education and holistic training.
Of the 50 units, 40 units will be distributed for common use in JBM’s high school dorms and one middle school dorm. The remaining 10 units were assigned to the Tagbanua Ministry under the auspices of Loyola College of Culion (LCC) in Palawan.
Maynilad offers emptying services in May
West Area Concessionaire Maynilad Water Services, Inc. (Maynilad) is offering septic tank cleaning services to residential and semi-professional customers in May in parts of Caloocan, Las Piñas, Makati, Malabon, Manila, Muntinlupa, Navotas, Parañaque, Pasay, Quezon City, Valenzuela and the province of Cavite at no additional cost.
The company has adopted new, more rigorous protocols in the conduct of emptying services to ensure the safety of its customers who will benefit from septic tank cleaning. Maynilad requires all of its vacuum personnel and vacuum truck unit operators to wear personal protective equipment (PPE), practice physical distancing, and undertake additional disinfection procedures to protect against the spread of COVID-19.
“We have made our already stringent emptying safety protocols even stricter, to assure our customers that we are taking all necessary measures to protect them from possible COVID-19 infection when providing our in-home emptying services” , said Maynilad COO Randy T Estrellado, adding that customers should take advantage of the service because it helps protect community health and the environment.
Customers residing at Barangay 80, 160, 161, 163 to 166, 170, 171 and 177 in Caloocan; Brgy. Almanza Uno in Las Pinas; Brgy. Bangkal and Magallanes in Makati; Brgy. Acacia, Longos, Potrero and Tenejeros in Malabon; the barangays under Sampaloc in Manila; Brgy. Bayanan in Muntinlupa; Brgy. North Bay Boulevard (north and south) in Navotas; Brgy. BF Homes and Sun Valley in Parañaque; Brgy. 183 and those under Baltao, Maricaban and Pildera 2 in Pasay City; Brgy. Baesa, Bagbag, Bahay Toro, Kaligayahan, Sangandaan and Sauyo in Quezon City; and Brgy. General T. De Leon and Ugong from the city of Valenzuela can benefit from Maynilad’s emptying service.
Some Maynilad customers in the province of Cavite, especially in Brgy. Habay I, Ligas I to III and San Nicolas I in Bacoor City; Brgy. 10-A and B, 13, 16, 18, 19, 23, 26, 28, 29 and 29-A in Cavite City; and Brgy. Bayan Luma I to IX in Imus City can avail the company’s septic tank cleaning services at no additional cost. Septic tank cleaning service normally costs around Php 4,700 per truck.