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Keisha Ta-Asan - The Philippine Star
February 21, 2025 | 12:00am
The bank’s net income was 14 percent higher than the P42.2 billion booked a year ago, translating to a return on equity of 13 percent in 2024, higher than the previous year’s 12.5 percent.
Philstar.com / Irish Lising, file
MANILA, Philippines — Metropolitan Bank & Trust Co. (Metrobank) posted record-high earnings of P48.1 billion in 2024, driven by robust asset expansion and better asset quality.
The bank’s net income was 14 percent higher than the P42.2 billion booked a year ago, translating to a return on equity of 13 percent in 2024, higher than the previous year’s 12.5 percent.
“The hard work that all Metrobankers put in growing our corporate, middle market, retail and wealth segments as well as our investments in technology and human resources and risk management initiatives continue to bear fruit,” Metrobank president Fabian Dee said.
“This positive momentum and our strong balance sheet set us up very well to continuously meet the growing needs of our clients and to pursue our medium-term strategies,” he said.
Net interest income jumped by 8.7 percent to P114.1 billion, fueled by a strong 17-percent expansion in gross loans, outpacing industry growth of 12.5 percent.
Commercial loans surged by 17.7 percent as firms continued to increase capital spending. Consumer loans grew by 14.4 percent, driven by higher credit card receivables and auto loans.
Likewise, total deposits went up by eight percent to P2.6 trillion, with low-cost current and savings accounts (CASA) accounting for 57.8 percent.
Fee and trust income climbed to P18.1 billion in 2024, supported by growth in consumer business. In addition, Metrobank booked a combined trading and foreign exchange gain of P5.6 billion in 2024, 39 percent higher year-on-year.
Meanwhile, operating costs rose by 11 percent to P77.2 billion, driven by transaction related taxes as well as manpower, technology and marketing costs as the bank continued to invest for growth.
The ratio of non-performing loans further eased to 1.43 percent from 1.69 percent in 2023, enabling the bank to reduce provisions by 29.2 percent year-on-year. NPL cover remains high at 163.5 percent, providing a substantial buffer against any emerging risks to the portfolio.
Metrobank’s total consolidated assets stood at P3.52 trillion in 2024, maintaining its status as the country’s second largest private universal bank.
Metrobank’s total equity stood at P385.5 billion, while capital ratios remain to be one of the highest in the industry, with capital adequacy ratio at 16.7 percent and common equity tier 1 ratio at 15.9 percent, all well-above the minimum regulatory requirements.
The strong profitability and substantial capital base prompted the bank’s board of directors to approve a total cash dividend of P5 per share for the year.
The regular dividend stood at P3 per share to be paid out on a semi-annual basis. In addition, a special cash dividend of P2 per share was also declared. The first payout of P3.5 per share will be given to shareholders on record as of March 6.
Metrobank has an extensive consolidated network that spans over 960 domestic branches nationwide, more than 2,300 ATMs, and around 30 foreign branches, subsidiaries and representative offices.
