AMWSLAI POSTED IMPRESSIVE FINANCIAL PERFORMANCE FOR 1ST SEMESTER 2013

EXPECTED EARNINGS ADVANCE: AMWSLAI started to distribute its Expected Earnings Advance for the first (1st) semester of 2013 on 31 July 2013 at all AMWSLAI offices.

The Association continued its impressive financial performance and growth in membership for the 1st semester of 2013 bolstering its profitability, stability, and its standing as the second largest savings and loan association and one of the reputable financial institutions of the Philippines.

During the period, AMWSLAI posted a Net Income of P935.705 M. Total Resources grew significantly and reached its all-time high level of P 26.576 B, consisting of P1.123 B in Cash on Hand and in Banks, P24.125 B in Total Loans, and P131.305 M Investments in Government Securities. Capital Contributions and Special and Regular Savings Deposits of members likewise increased, hitting P19.432B and P3.449 B, respectively. These figures resonate the Association’s strength, liquidity and stability which earned awards in the recently concluded 22nd National Convention of the Confederation of Non-Stock Savings and Loan Associations (CONSLA).

With the unwavering trust, support, and patronage of members and with the supervision and tutelage of the Bangko Sentral ng Pilipinas, the Association is very optimistic that it will surpass its 1st semester 2013 performance and will be able to declare and distribute additional dividends for 2013 in January 2014.

AMWSLAI was given approval by the BSP for the distribution of 4.25% advance dividends in the form of Expected Earnings Advance amounting to P 825.862M to 203,514 members starting 31 July 2013, an exemption from BSP Circular 789 requiring all SLAs to distribute dividends only once a year.