Metropolitan Bank and Trust Co. (Metrobank) reported record net earnings of P37.3 billion in the first nine months of the year, driven by solid loan growth, improving margin trend, healthy trading income alongside well managed cost growth.
Pre-provision operating profit at the end of September grew 12.1 percent year-on-year to P59.2 billion.
‘Our prudent approach in expanding our core businesses continued to support our performance in the first nine months. We’re confident that the Philippines’ long-term growth story remains strong,’ said Metrobank President Fabian S. Dee in a statement.
‘We continue to be committed in helping our clients seize opportunities for growth as we navigate together any challenges and uncertainties on our journey ahead.’ he added.
Metrobank’s net interest income increased by 7.1 percent to P91.8 billion in the first nine months of the year, owing to broad-based gains across business segments and sustained quarterly margin improvement.
Gross loans expanded by 10.8 percent year-on-year to P1.9 trillion, with consumer loans rising by 15.8 percent. Institutional loans likewise rose by 9.5 percent.
Meanwhile, total deposits amounted to P2.5 trillion, up 7.6 percent year-on-year, of which P1.5 trillion are low-cost current and savings accounts (CASA).