Metropolitan Bank and Trust Company (Metrobank) president Fabian Dee affirmed that the bank had a strong finish in 2019.
According to the report posted online by English-language Philippine daily newspaper The Philippine Star, Metrobank earned P28.06 billion last year.
These figures present a 27.5-percent increment. In 2018, the financial institution registered P22.01 billion in revenue.
Metrobank has demonstrated consistent development in operating income, as per its financial report.
Dee explained that the initiatives of the bank aided it to conclude the previous year on a robust note.
Moreover, he cited that these projects also enabled the financial firm to perform considerably well last year.
Dee specifically pointed to Metrobank’s aim to deliver what is essential to their clients.
He pointed out that this mission directly resulted in their heightened lucrativeness.
Furthermore, the top banker of the second-largest lender of the Philippines in terms of assets said that it helped sustain the bank’s growth.
Dee remarked that their goal enabled them to experience more efficient operations as well.
These positive results, in turn, validated the confidence and trust of their clients to their bank, he added.
The net interest income of Metrobank ballooned to P77 billion. This amount indicates a 12-percent increase.
Besides, this revenue of the bank accounts for 72 percent of its total earnings of P106.9 billion.
It brings the net interest margin of Metrobank to 3.84 percent.
The non-interest earnings of the financial firm, on the other hand, skyrocketed to P29.9 billion.
These figures indicate a 26-percent jump.
On top of a promising financial market milieu, the Philippine lender’s non-interest earnings benefited from higher bank client flows in foreign exchange and fixed income.
Metrobank also revealed that its trading and foreign profits more than tripled. They amounted to P9.3 billion.
Meanwhile, the banking firm’s service fees and commissions registered a 12-percent surge to P14.3 billion.
The deposit base of the lender surged more rapidly to P1.7 trillion. These numbers show an upsurge of 10 percentage points.
Additionally, the loan book of the bank rose to P1.5 trillion. It posted a seven-percent increment.
The consolidated assets of Metrobank amounted to P2.5 trillion. Meanwhile, its equity is at P309.6 billion.
On Thursday, February 20, 2020, Metrobank (PSE: MBT) closed at P60.60 per share.
This last trading price of the lender’s stock indicates an increment by 1.60 or 2.71 percent. The total value reached P364,257,875.50.
The 52-week high of Metrobank is at P82.45. Meanwhile, the publicly listed company’s 52-week low is at P56.00.
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