Metrobank registers P18.1 billion profit in 2016

February 24, 2017

Metropolitan Bank & Trust Company  (Metrobank) reported a consolidated net income of P18.1 billion in 2016, it said in a disclosure to the Philippine Stock Exchange Friday.

Net income in the fourth quarter alone was at P5.5 billion, three higher than the comparative period in the previous year.

In 2016, Metrobank achieved all-time high levels in the Bank’s 54-year history. Total resources peaked at P1.9 trillion, total deposits reached P1.4 trillion, and total loans hit P1.1 trillion.

Metrobank’s 2016 performance was driven by sustained low cost funds generation, which in turn supported the rapid expansion of commercial loans. Last year, the bank grew its loan book faster than industry, and strategically re-positioned its balance sheet to provide a steady source of recurring income.

Net loans and receivables increased by 20 percent to breach the P1-trillon mark. The total loan portfolio hit P1.1 trillion, and accounts for 57 percent of total assets from 50 percent the previous year.

The commercial segment led the growth, up 22 percent year-on-year as the Bank supported the long-term capex requirements of its corporate clients as well as the working capital needs of the middle market and SME customers.

The consumer segment maintained solid volume growth of 16 percent, with auto loans growing fastest among the bank’s consumer assets. DMS