Metropolitan Bank & Trust Co. (Metrobank), reported a surge in net income of 48% to P32.8 billion in 2022, up from P22.36 billion in 2021.
The bank’s strong financial performance was attributed to better corporate and consumer lending, healthy fee income, subdued operating expense growth, and lower provisions on stable asset quality.
Metrobank’s net interest income increased by 14 percent due to higher loan demand and better net interest margin, while gross loans expanded by 14 percent year-on-year.
Meanwhile, the bank’s non-performing loans ratio eased to 1.9 percent from 2.2 percent in 2021, better than the industry average of 3.3 percent.
Total deposits grew by 15 percent from the previous year to P2.2 trillion with low-cost current and savings accounts (CASA) stable at P1.5 trillion.
Due to its strong capital and higher profitability, Metrobank’s Board of Directors approved a total cash dividend of P3.00 per share for the year, with a regular dividend of P1.60 per share to be paid out semi-annually at P0.80 per share, as well as a special cash dividend of PHP1.40 per share.
The bank’s total consolidated assets stood at P2.8 trillion, remaining as the country’s second-largest private universal bank.
