MANILA — Metropolitan Bank & Trust Co (Metrobank) said its net income grew 35.6 percent to P31.8 billion in the first 9 months of 2023 due to asset expansion, improving margins, and healthy non-interest income growth.

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In the third quarter, it posted a 39.7 percent growth in earnings to P10.9 billion, the lender told the stock exchange.

Net interest income surged by 24.4 percent to P77.2 billion, it said. Gross loans grew 7.1 percent, driven by the 16.5 percent growth of consumer loans, it added.

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Total deposits, meanwhile, grew 14.5 percent to P2.3 trillion, Metrobank said.

Trading and foreign exchange gains hit P3.6 billion, jumping 45.5 percent, while fee income rose 9.7 percent to P12.2 billion, it added.

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Metrobank said its non-performing loans (NPLs) ratio eased further to 1.7 percent from 2.1 percent in the same period last year. NPL cover is at 187.1 percent, it said.

Metrobank's net income grew 34.1 percent to P20.9 billion in the first half of 2023.

• Metrobank net income up 34 pct in first half to P20.9B

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