Loans up across the board
• Loans grew 16.1 percent, led by strong corporate and consumer lending.
• Auto loans rose 21.4 percent, while credit card receivables climbed 17.9 percent.
• Net interest income hit P29.4 billion, backed by solid lending momentum.
Trading and fees boost revenues
Non-interest income surged 31.9 percent to P8.7 billion, as trading and foreign exchange gains grew nearly fourfold to P2.6 billion.
Fee income also climbed 10.5 percent to P4.3 billion, driven by an expanding consumer base.
Altogether, the bank’s pre-provision operating profit rose 8.8 percent to P18.8 billion, showing strong business momentum.
Management’s view
“Our first quarter performance keeps us on track in achieving our medium-term growth strategies even as global uncertainties continue to persist,” said Metrobank president Fabian S. Dee.
“Our strong capitalization and healthy portfolio give us and our clients the assurance on our ability to navigate the changing economic landscape,” he added.
Costs in check
Operating costs were kept under control, rising only 7 percent, keeping the cost-to-income ratio steady at 50.8 percent.
Non-performing loans (NPL) stayed low at 1.6 percent, well below the industry average of 3.5 percent, while loan loss reserves remained high with a 150.9 percent NPL coverage ratio. The bank also added P2.6 billion in provisions as a buffer for potential defaults.
Metrobank ended the quarter with total assets of P3.5 trillion, up 9.1 percent, making it the second-largest private bank in the Philippines by asset size.
