Metrobank grew its net income by 14 percent to P48.1 billion last year compared to the level in 2023 as consumer and business loans posted double-digit growth.

In a disclosure to the Philippine Stock Exchange on Thursday, Metrobank said net interest income grew by 8.7 percent to P114.1 billion.

This reflected growth in consumer loans by 14.4 percent after credit card receivables and auto loans rose by 18.6 percent and 18.2 percent, respectively.

Corporate loans also up 17.7%

Non-performing loans improved to 1.43 percent from 1.69 percent amid the country’s high employment rates and lower interest rates.

The bank, thus, was able to reduce loan loss provisions by 29.2 percent.

Meanwhile, non-interest income from service fees, foreign exchange (forex), and trust services increased to P18.1 billion. Specifically, trading and forex gains contributed P5.6 billion, growing by 39 percent. Total deposits slightly grew by 8 percent, mostly consisting of current and savings accounts which represent 57.8 percent of all deposits and offer low savings rates.

Operating costs rose by 11 percent to P77.2 billion due to taxes, marketing activities, and improved manpower and technology.

Initiatives continue to bear fruit

“The hard work that all Metrobankers put in growing our corporate, middle market, retail and wealth segments as well as our investments in technology and human resources and risk management initiatives continue to bear fruit,” Metrobank president Fabian Dee said.

Due to effective management, Metrobank improved return on equity to 13 percent from 12.5 percent.

The bank continues to be the country’s second largest private universal bank, with total consolidated assets of P3.52 trillion. Total equity reached P385.5 billion.

Metrobank has approved the distribution of a regular cash dividend of P3 per share and a special dividend of P2. The first payout of P3.50 will be given to shareholders on record as of 6 March 2025.