Fred Yao’s bank scores top-notch credit grade
This bank is worth your money.
Philippine Business Bank (PBB) scored top marks from local credit rater Philippine Rating Services Corp.
The bank owned by Zest-O Corp.’s Alfredo Yao was rated PRS Aa minus (corp). by PhilRatings, which vouched for the lender’s good financial position.
“The issuer rating for PBB takes into account the expansion of the bank’s core lending business, which is supportive of revenue growth; above satisfactory asset quality; and funding profile which is biased towards high-cost deposits. Also taken into consideration is PBB’s target market, which presents
opportunities but also faces significant non-finance challenges,” PhilRatings said in a statement.
“Revenues are forecast to grow much faster than historical performance, as combined increases in loan volume and rates lead to interest earnings growth,” the credit rater added.
PBB has been focused on lending to small businesses, which has driven sustained increases in net intrest income over the past five years.