Metrobank grew its net income by 14 percent to P48.1 billion last year compared to 2023, driven by double-digit growth in consumer and business loans.
In a disclosure to the Philippine Stock Exchange on Thursday, Metrobank reported an 8.7 percent increase in net interest income, reaching P114.1 billion.
Consumer loans rose by 14.4 percent, with credit card receivables and auto loans increasing by 18.6 percent and 18.2 percent, respectively. Corporate loans also jumped by 17.7 percent.
Non-performing loans improved to 1.43 percent from 1.69 percent, supported by the country’s high employment rates and lower interest rates. This allowed the bank to reduce loan loss provisions by 29.2 percent.
Meanwhile, non-interest income from service fees, foreign exchange (forex), and trust services grew to P18.1 billion. Trading and forex gains contributed P5.6 billion, reflecting a 39 percent increase.
Total deposits grew by 8 percent, with current and savings accounts — representing 57.8 percent of all deposits — offering low savings rates.
Operating costs rose by 11 percent to P77.2 billion due to taxes, marketing activities, and investments in manpower and technology.
“The hard work that all Metrobankers put into growing our corporate, middle market, retail, and wealth segments, as well as our investments in technology, human resources, and risk management initiatives, continue to bear fruit,” Metrobank president Fabian Dee said.
Effective management helped Metrobank improve its return on equity to 13 percent from 12.5 percent.
As the country’s second-largest private universal bank, Metrobank reported total consolidated assets of P3.52 trillion and total equity of P385.5 billion.
Metrobank has approved the distribution of a regular cash dividend of P3.00 per share and a special dividend of P2.00. The first payout of P3.50 will be given to shareholders on record as of March 6, 2025.