Metrobank earned P12B in Q1 driven by robust lending
Ty family-led Metropolitan Bank and Trust Co. (Metrobank) booked P12 billion in earnings in the first three months of the year, up by 14.5 percent, as its lending portfolio grew.In a stock exchange filing on Tuesday, Metrobank said its net interest income had expanded by 15.4 percent to P28.7 billion in the January to March period, propelled by a growth in interest-earning assets.Gross loans likewise rose by 12.1 percent year-on-year, with commercial loans increasing by 11.2 percent.
Consumer loans recorded a 15.3-percent growth as gross credit card receivables and auto loans rose.
“As we remain focused on sustaining the bank’s profitability, our strong commitment to our customers is at the center of our growth strategy,” Metrobank president Fabian Dee said in their filing.
“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,“ he added.
Total deposits increased by 4.9 percent to P2.4 trillion. Low-cost current and savings accounts contributed 58.6 percent to the total, Metrobank said.Its earnings resulted in a return on equity of 13.7 percent, up from 13.1 percent a year ago.
Nonperforming loans ratio eased to 1.7 percent from 1.8 percent of total loans in the first quarter of last year, while total equity was at P345.7 billion.
Consolidated assets jumped by 10.7 percent to P3.2 trillion, the second-highest among the country’s private universal banks. —Meg J. Adonis INQ
