Ty family-led Metropolitan Bank & Trust Co. chalked up P18.22 billion in net profit last year, flat from the previous year’s level as higher interest earnings made up for the decline in treasury gains.
Excluding one-off items, Metrobank grew its core net profit last year by 10 percent on a double-digit expansion in earnings from lending activities.
“The strength of our deposit franchise continues to support our loan growth, particularly in the commercial space as we help finance the expansion plans of our customers. Core revenues increased at a healthy rate, while operating expense growth was capped at a single digit,” Metrobank president Fabian Dee said in a statement.
Metrobank’s total resources closed last year at a new high of P2.1 trillion.
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In a separate regulatory filing, Metrobank reported that net interest income rose by 16 percent to P61.4 billion, accounting for 73 percent of the bank’s P83.6-billion total operating income.
Metrobank grew its loan book by 19 percent to P1.3 trillion last year. The commercial segment, mainly the middle market and small and medium enterprises, led the growth with a 20-percent gain while consumer loans increased by 17 percent.
