Metrobank H1 earnings soar 145% to P18-B

MANILA, Philippines — First-half earnings of George Ty-led Metropolitan Bank and Trust Co. (Metrobank) more than doubled to P18.1 billion from P7.4 billion in the same period of 2012.

In a disclosure to Philippine Stock Exchange on Thursday, August 1, Metrobank attributed its strong performance to the steady growth of its revenues from lending and treasury and investment activities.

The bank’s January-June net income already exceeded its full-year 2012 net income of P15.4 billion.

Below are the highlights of Metrobank’s financial report:

• Total operating income expanded by P16.6 billion to P45.9 billion
• Net interest income rose 13% to P17.3 billion, while non-interest income increased by P14.7 billion to P26.8 billion
• Loan growth went up 16% year on year to P545.8 billion.
• Total deposits amounted to P876.6 billion, a 32% annual growth
• Non-performing loans ratio improved to 1.8% from 2.2%
  
• NPL coverage expanded to 125% from 109%
  
• Consolidated assets reached P1.2 trillion
• Capital adequacy ratio remained well above the regulatory limit at 18.1%