SUN Savings Bank reported a strong financial performance in the first quarter of 2025, continuing its momentum from the previous year. As of March 2025, the bank’s total assets grew by 12.6 percent, reaching P4.1 billion, from P3.6 billion in 2024.
The growth was largely driven by a 26 percent increase in loan portfolio, which climbed to P3.50 billion. Loans now make up 85.80 percent of the bank’s total assets, showing the bank’s strong commitment to support the financial needs of its customers. Further, the quality of the bank’s loan portfolio improved as its non-performing loan ratio went down to 2.6 percent from 4.1 percent a year ago.
Customer deposits also increased significantly. Deposits rose by 21.6 percent, from P2.3 billion in March 2024 to P2.8 billion in 2025, showing continued trust and confidence from depositors. The bank’s bills payable dropped by 17 percent, from P669 million to P554 million, reflecting stronger balance sheet management and lower reliance on bank loans for funding.
Another significant highlight was the 72 percent increase in net income for the first quarter, which increased to P22.4 million from P13 million a year earlier. This growth highlights the bank’s continuing improvement in its operations and income generation.
Sun Savings Bank’s total shareholders’ equity also grew by 16.5 percent, reaching P649 million. The bank’s capital adequacy ratio remained strong at 16.7 percent, demonstrating Sun Savings Bank’s strong capital position, well above regulatory requirements, and its continued ability to support growth while managing risks effectively.
The bank opened its ninth banking office in Moalboal last February, further expanding its geographic reach to the southwestern towns of Cebu.
To reward depositors, the bank is currently offering a seven percent per annum tax free five-year time deposit, for a limited time only.
With this solid start to 2025, Sun Savings Bank remains committed to its mission of delivering accessible, secure and rewarding banking services. The bank is also preparing to launch its digital banking platform, complementing its network of strategically located branches to better serve customers across the region. / PR