Metrobank year-on-year net profit grows by 18% in 1st semester

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MANILA, Philippines–Ty family-led Metropolitan Bank & Trust Co. grew net profit in the first semester by 18 percent year-on-year to P13 billion on higher earnings across its lending, fee-based and treasury businesses.

For the second quarter alone, Metrobank’s net profit rose by 22 percent year-on-year to P6.28 billion, the bank disclosed to the Philippine Stock Exchange on Friday.

Metrobank’s solid performance for the semester was attributed to its double-digit growth in operating income on the back of consistent loan growth and margin expansion, higher fee- based income, and prudent operational expenditures.

“We are pleased with the results as our initiatives are bearing fruit. We anticipate that the second half will bring even better opportunities as government spending on infrastructure projects continues to accelerate,” Metrobank president Fabian Dee said.

“We will continue to make strategic investments in key areas of people and technology so we can deliver more meaningful banking experiences to all our customers.” /jpv