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Nov 6, 2017 @ 17:15

Metrobank makes P13.2B as of end-Sept.


Increased lending and trading gains kept the bank afloat.

Bilyonaryo George Ty’s Metropolitan Bank & Trust Co. (Metrobank) saw its consolidated net income hit P13.2 billion from January to September, spelling a 5% increase from the same period in 2016.

The bank told the Philippine Stock Exchange that these gains were supported by a 20% rise in loans and receivables which hit P1.2 trillion, largely from corporates and middle-market businesses. In sum, gross revenues reached P62.9 billion.

Deposits also went up to P1.5 trillion, posting a 15% growth in low cost accounts.

Non-interest income also reached P17.6 billion, broken down to P9.1 billion from service fees, commissions, and trust operations; P4 billion in net trading gains; and P4.5 billion in other income.

Meanwhile, operating expenses saw a modest 8% increase to P35.8 billion.

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