Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, appointed director and executive vice president Jose Vicente L. Alde as its new president.
Alde, 51, joined PSBank in 2007 and has more than 23 years of banking experience, formerly holding key senior management positions in ABN AMRO and BA Savings banks. He 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 Sumisho Motor Finance Corporation which is also part of the Metrobank Group of companies.
Meanwhile, Vicente R. Cuna Jr., PSBank’s president since 2013, is appointed vice chairman of the bank, and will assume another key executive position within the Metrobank Group consistent with the policy on cross-posting. Cuna led PSBank’s digital transformation.
PSBank ended 2017 with a net income of Php 2.7 billion, 8.3% higher than the previous year. Total assets expanded by 13.4% to Php 223.3 billion, while total equity was at Php 22.4 billion, up 11.8%.