Metrobank earnings reach record P35.7B in first 9 months

Ty family-led Metropolitan Bank and Trust Co. (Metrobank) saw its earnings in the January to September period rise by 12.4 percent to a record P35.7 billion on strong loan growth amid easing interest rates.

In a stock exchange filing on Tuesday, the country’s second largest private bank said net interest income climbed by 11 percent to P85.7 billion driven by a 15.7-percent jump in car loans.

“We look forward to the positive impact of recent regulatory measures on the banking industry alongside improving economic outlook,” Metrobank president Fabian Dee said in a statement.

Trading and foreign exchange gains surged by 56.4 percent to P5.6 billion during the period.

Metrobank’s financial performance resulted in a return on equity of 12.9 percent from 12.8 percent previously.

As of end-September, its total assets stood at P3.34 trillion.