Metrobank H1 earnings hit record P23.6B during first semester of 2024
Metropolitan Bank and Trust Co. | PHOTO: Official website of Metrobank / metrobank.com.ph
Metropolitan Bank and Trust Co. (Metrobank) reached a record P23.6 billion in earnings in the first semester, up by 13 percent, due to the Ty family-led bank’s “robust asset expansion.”
In a stock exchange filing on Thursday, Metrobank said net interest income in the January to June period grew by 14.6 percent to P58 billion.
Gross loans climbed by 15 percent as commercial and consumer loans both expanded.
READ: Metrobank: Rate cuts may boost economic growth in 2025
Its non-performing loans ratio, a key measure of the bank’s asset quality, improved to 1.66 percent from 1.84 percent last year.
Article continues after this advertisementMetrobank likewise trimmed provisions to P1 billion.
Article continues after this advertisementIts first half performance resulted in a return on equity of 13.3 percent from 12.9 percent in the same period last year.
As of end-June, the country’s second largest private bank saw its total assets reach P3.3 trillion, up by 14.5 percent.
”Our strong capital position and robust asset profile continued to support our expanding core businesses despite market challenges,” Metrobank President Fabian Dee said.
