Metrobank income surges to P5.2B in Q2
Bigger loans led to a 31 percent increase in profit.
Listed Metropolitan Bank & Trust Co. (Metrobank) said it made a P5.2 billion net income from April-June, soaring from the P3.9 billion booked in the same period in 2017.
This brought the first-semester tally to a net income of P11 billion, up 16 percent year on year.
“Metrobank?s solid performance was underpinned by the core business, as double-digit growth in
loans and sustained CASA ratio lifted margins even higher, while recurring expense growth was
kept at a manageable level,” the bank owned by bilyonaryo George Ty said in a disclosure.
Loan growth surged by 18 percent to P1.3 trillion, led by a 21 percent increase in commercial lending. The consumer segment also expanded by mid-teens.
Total deposits reached P1.6 trillion, bringing consolidated assets to P2.2 trillion.