MANILA, Philippines — Ty-led Metropolitan Bank & Trust Co. (Metrobank) posted a net income of P24.8 billion in the first half, up from last year on the back of healthy loan growth, improving margins, robust trading gains and tighter cost control.
The bank’s pre-provision operating profit climbed by 16.3 percent year-on-year to P39.1 billion, highlighting the solid performance across its core segments.
“Our first half performance reflects the continuing strength of our core businesses. As we enter the second half of the year, we remain focused on building on our fundamentals and implementing prudent strategies, which will allow us to continue helping our clients grow further as well as achieve our medium-term goals,” Metrobank president Fabian Dee said.
Net interest income reached P60 billion during the period, driven by sustained growth across business lines and a rebound in net interest margin.
Gross loans expanded by 13.2 percent, with institutional lending up by 12.7 percent due to rising corporate capital expenditures. Consumer loans rose by 15.3 percent, bolstered by an 18.2-percent increase in credit card receivables and a 17.8-percent rise in auto loans.
Total deposits stood at P2.3 trillion, of which P1.5 trillion were low-cost current and savings accounts, underscoring strong liquidity support.
Non-interest income surged by 46.2 percent to P17.6 billion, lifted by rising fee-based revenues and capital market gains. Fee income hit P8.6 billion, while trading and foreign exchange profits more than doubled to P5.4 billion, backed by strong customer flows and strategic investment portfolio adjustments.
Operating expenses rose by 5.9 percent, improving the bank’s cost efficiency. The cost-to-income ratio narrowed to 50 percent from 52.3 percent in the same period last year.
The listed bank booked P5.8 billion in provisions, keeping its non-performing loan cover high at 153.9 percent.
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