Metropolitan Bank & Trust Co. (Metrobank) reported net earnings of P12 billion in first quarter, 14.5 percent higher year-on-year.
This translated to a return on equity (ROE) of 13.7 percent, higher than 13.1 percent a year ago.
The bank said its improving profitability was driven by consistent growth of its lending portfolio, better operational efficiencies, stable asset quality and continued execution of strategies to optimize the use of capital.
Metrobank said its total consolidated assets expanded by 10.7 percent to P3.2 trillion, which is the second highest asset base among the country’s private universal banks.
“As we remain focused on sustaining the Bank’s profitability, our strong commitment to our customers is at the center of our growth strategy. We will consistently offer tailored financial solutions that directly address the needs and goals of those we serve to help them build a more prosperous future,” said Fabian Dee, Metrobank president.
