Metrobank books P12.6-billion net income in Q1

METROPOLITAN BANK & Trust Co. (Metrobank) posted a net profit of P12.6 billion in the first quarter, supported by strong interest and fee income, it said on Tuesday.

The bank’s performance for the period was “driven by modest asset expansion alongside better margins and healthy fee income growth,” it said in a disclosure to the stock exchange.

Net interest income increased by 13.6% to P33.4 billion, backed by strong loan growth.

Fee and trust income also rose by 11.8% to P5.1 billion.

Meanwhile, operating costs went up by 9.8% to P21.1 billion. Its cost-to-income ratio stood at 52.5%.

“Our first quarter results underscore the resilience of Metrobank’s core businesses and the consistency of our execution. With strong capitalization, solid asset quality, and healthy buffers, we remain well-positioned to manage risks while continuing to support the growth and funding needs of our customers,” Metrobank President Fabian S. Dee said. — BVR