MANILA, Philippines?First Metro Investment Corp., the investment banking arm of the Metrobank group, grew its first semester net profit by 60 percent to P888.7 million year-on-year on robust corporate finance, treasury and investment advisory businesses.

This resulted in a return on equity of 19.5 percent at the half mark.

?On the back of a resurgent domestic economy, buoyant local financial markets and a very successful political transition, First Metro Investment experienced elevated performance in all its strategic business units,? FMIC president Francisco Sebastian said in a press statement Thursday.