METROPOLITAN Bank & Trust Co. (Metrobank) grew its nine-month profit by 12.4 percent to P35.7 billion, a record, from last year’s P31.76 billion.
The bank attributed the growth to its “strong asset expansion, recovery in non-interest income and improved asset quality.”
“This translated to a 12.9- percent return on equity, higher than the 12.8 percent recorded in the same period last year,” the Ty-controlled lender said.
“Our robust results reflect our strong drive to continue supporting the growing needs of our clients, all while preserving the health of our portfolio. We look forward to the positive impact of recent regulatory measures on the banking industry alongside improving economic outlook,” said Fabian Dee, Metrobank president.
Gross loans jumped 15.6 percent. Commercial loans surged 16.6 percent.
Consumer loans grew by 12.3 percent driven by a 16.6 percent rise in net credit card receivables and 15.7 percent growth in auto loans.
Total deposits were at P2.3 trillion.
Low-cost current and savings accounts made up for 62.3 percent of total deposits.
Net interest income grew 11 percent to P85.7 billion, with net interest margin at 3.9 percent.
Metrobank said trading and foreign exchange gains were at P5.6 billion, up 56.4 percent.
“In addition, fee income edged up to P12.5 billion for the same period,” it said.
Non-performing loans (NPLs) ratio was at 1.59 percent.
“As a result, provision costs declined by 48.2 percent year on year. Nonetheless, NPL cover remains high, at 161.9 percent, providing a substantial buffer against any risks to the portfolio,” Metrobank said.
Consolidated assets stood at P3.34 trillion, with equity at P380.1 billion.
Capital adequacy ratio is at 17.1 percent while common equity tier 1 ratio at 16.3 percent. Liquidity coverage ratio is at 258.4 percent.
