Ty family-led Metropolitan Bank and Trust Co. (Metrobank) saw its earnings in the January to September period rise by 12.4 percent to a record P35.7 billion on strong loan growth amid easing interest rates.
In a stock exchange filing on Tuesday, the country’s second largest private bank said net interest income climbed by 11 percent to P85.7 billion driven by a 15.7-percent jump in car loans.
Article continues after this advertisement“We look forward to the positive impact of recent regulatory measures on the banking industry alongside improving economic outlook,” Metrobank president Fabian Dee said in a statement.
FEATURED STORIES BUSINESS BCDA still finalizing plans to re-develop Market! Market! BUSINESS Cracking down on cybercrime: Industry collaboration for a secure digital banking ecosystem BUSINESS BIZ BUZZ: Global brainstorming club comingTrading and foreign exchange gains surged by 56.4 percent to P5.6 billion during the period.
Metrobank’s financial performance resulted in a return on equity of 12.9 percent from 12.8 percent previously.
As of end-September, its total assets stood at P3.34 trillion.
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