MANILA – Metrobank said Friday it posted net income of P18.1 billion in 2016, up 3 percent from the previous year, as it continued to grow its loan portfolio.

The lender told the stock exchange that net loans and receivables grew 20 percent and breached the P1-trillion mark last year.

Commercial loans grew 22 percent while consumer loans rose 16 percent, led by auto loans, the bank said.

Metrobank shares were down 0.68 percent to P80.75 on Friday.