Money

Ty family’s Metrobank posts rock solid growth in 2019

Metropolitan Bank & Trust Co. (Metrobank) saw its net income jump 27% to P28.1 billion last year on the back steady loan growth and margin expansion, strong trading and foreign exchange gains.

Metropolitan Bank & Trust Co. (Metrobank) saw its net income jump 27% to P28.1 billion last year on the back steady loan growth and margin expansion, strong trading and foreign exchange gains.

Net interest income rose 12% to P77 billion, accounting for 72% of Metrobank’s total revenues of P106.9 billion.

“The bank performed significantly well in 2019, and all our initiatives contributed to the strong finish,” said Metrobank president Fabian Dee.

Meanwhile, non-interest income rose 26% to P29.9 billion, benefiting from higher customer flows in fixed income and foreign exchange, on top of a favorable financial market environment.

Service fees and commissions grew 12% to P14.3 billion, while trading and FX gains more than tripled to P9.3 billion.

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