Metrobank posts 14.5% net income rise in Q1 2024

April 30, 2024
5:09PM PHT

The Ty family’s Metropolitan Bank & Trust Co. (Metrobank) reported a profit jump of 14.5 percent to P12 billion during the first quarter of the year on the strong performance of its core businesses. 

This boost in profitability resulted in a return on equity (ROE) of 13.7 percent, up from 13.1 percent. Gains were fueled by the bank’s expanding lending portfolio, improved operational efficiencies, stable asset quality, and strategic capital optimization. 

Fabian Dee
Metrobank President

Net interest income also saw significant growth, up by 15.4 percent to P28.7 billion during the same period, driven by an increase in interest-earning assets and a higher net interest margin of 4 percent. 

Additionally, Metrobank’s comprehensive loan services saw a robust increase, with commercial loans and consumer loans growing by 11.2 percent and 15.3 percent respectively, contributing to a total gross loan expansion of 12.1 percent.

About the author
Miguel R. Camus
Miguel R. Camus

Miguel R. Camus has been a reporter covering various domestic business topics since 2009.

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