Metropolitan Bank & Trust Co., the country’s fourth largest lender by assets, reported a net income of P12.3 billion for the first quarter, driven by strong loan growth, a robust performance in fee and trading income, and moderating cost increases.
The bank’s pre-provision operating profit also rose by 8.8 percent year-on-year to P18.8 billion, signaling healthy financial momentum despite global uncertainties.
Metrobank president Fabian S. Dee was bullish on the bank’s outlook for the year. “Our first quarter performance keeps us on track in achieving our medium-term growth strategies, even as global uncertainties continue to persist. Our strong capitalization and healthy portfolio provide assurance to our clients and us as we navigate through the changing economic landscape,” he said.
The bank’s net interest income climbed to P29.4 billion during the quarter, benefiting from the sustained growth of its lending business. Metrobank’s gross loan portfolio expanded by 16.1 percent year-on-year, with commercial loans rising by 16.1 percent, largely driven by continued corporate capital expenditure activities. Similarly, consumer loans grew at a robust pace of 16 percent, particularly boosted by a 21.4 percent increase in auto loans and a 17.9 percent rise in credit card receivables.
Metrobank also reported a 32 percent growth in non-interest income to P8.7 billion. Fee income increased by 11 percent to P4.3 billion, reflecting growth in its consumer business, while trading and foreign exchange gains soared nearly fourfold to P2.6 billion.
Operating expenses were well-managed, rising just 7 percent year-on-year, keeping the cost-to-income ratio at a competitive 50.8 percent. The bank’s non-performing loan (NPL) ratio remained low at 1.6 percent, well below the industry average of 3.5 percent, with provisions covering potential risks.
