Metrobank net income up almost 29 pct in 2023 | ABS-CBN
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Metrobank net income up almost 29 pct in 2023
Metrobank net income up almost 29 pct in 2023
ABS-CBN News
Published Feb 22, 2024 12:08 PM PHT
MANILA — Metropolitan Bank & Trust Co (Metrobank) said its net income grew 28.9 percent to P42.2 billion in 2023.
MANILA — Metropolitan Bank & Trust Co (Metrobank) said its net income grew 28.9 percent to P42.2 billion in 2023.
This is because of their asset expansion, higher margins, improving efficiency levels and better asset quality, said the bank's president Fabian Dee.
This is because of their asset expansion, higher margins, improving efficiency levels and better asset quality, said the bank's president Fabian Dee.
The lender said net interest income surged by 22.7 percent on the back of higher loan demand. Gross loans grew 7.6 percent, driven by the 15.9 percent growth of consumer loans.
The lender said net interest income surged by 22.7 percent on the back of higher loan demand. Gross loans grew 7.6 percent, driven by the 15.9 percent growth of consumer loans.
The bank said consumer loans grew because of strongAmid headwinds, we have to bet on sanity: Metrobank official iscretionary spending. Commercial loans, meanwhile, rose by 5.5 percent.
The bank said consumer loans grew because of strongAmid headwinds, we have to bet on sanity: Metrobank official iscretionary spending. Commercial loans, meanwhile, rose by 5.5 percent.
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Total deposits, meanwhile, grew 7.3 percent to P2.4 trillion, Metrobank said. P1.4 trillion of these deposits are from low-cost current and savings accounts.
Total deposits, meanwhile, grew 7.3 percent to P2.4 trillion, Metrobank said. P1.4 trillion of these deposits are from low-cost current and savings accounts.
Trading and foreign exchange gains were steady at P4 billion, while fee income rose 9 percent to P16.4 billion, it added.
Trading and foreign exchange gains were steady at P4 billion, while fee income rose 9 percent to P16.4 billion, it added.
Metrobank said its non-performing loans (NPLs) ratio eased further to 1.7 percent from 1.9 percent in 2022.
Metrobank said its non-performing loans (NPLs) ratio eased further to 1.7 percent from 1.9 percent in 2022.
Metrobank's net income grew 35.6 percent to P31.8 billion in the first 9 months of 2023.
Metrobank's net income grew 35.6 percent to P31.8 billion in the first 9 months of 2023.
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