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Feb 1, 2018 @ 17:28

Metrobank books P18.2B net income in 2017

 

Bigger corporate lending supported steady gains from a year ago.

The Metropolitan Bank & Trust Co. (Metrobank) made P18.2 billion in 2017, driven by double-digit growth in its loan portfolio.

The amount, however, reached roughly the same from the bank’s P18.1 billion bottom line in 2016.

“The strength of our deposit franchise continues to support our loan growth, particularly in the commercial space as we help finance the expansion plans of our customers. Core revenues increased at a healthy rate, while operating expense growth was capped to single-digit,” Metrobank President Fabian Dee said in a statement.

The bank’s loan portfolio grew by 19 percent year-on-year to reach P1.3 trillion, led by commercial lending. On the other hand, consumer loans went up by 17 percent.

Total deposits amounted to P1.5 trillion, Metrobank said.

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