Metrobank net income up 5 pct in H1 to P9.5B

ABS-CBN News

Posted at Aug 07 2017 10:20 AM | Updated as of Aug 07 2017 05:42 PM

MANILA - Metrobank said Monday net income in the first half grew 5 percent on the back of sustained growth in loans and deposits.

Net income attributable to shareholders reached P9.5 billion in the first 6 months of the year from P9.1 billion during the comparable period in 2016.

Second quarter net income grew 3.2 percent to P3.93 billion from P3.81 billion during the same period last year.

Total assets were at a record P2 trillion, the bank told the stock exchange.

Net loans and receivables grew 21 percent to P1.1 trillion in the first half, as commercial loans grew 24 percent and consumer loans grew 17 percent.

Metrobank has sought the arrest of one of its executives due to alleged unauthorized loans, the latest in a string of controversies to hit the local banking industry.

Metrobank shares were up 0.35 percent to P86.35 in early trading on Monday.