May 08, 2013

Metrobank income up 163% in Q1

Metropolitan Bank & Trust Co. (Metrobank) posted a consolidated net income of P11.4 B in the first three months of 2013, a 163% jump from the P4.3 B level in the same period last year.

This was achieved on the back of a 103% increase in non-interest income to P18.7 B, coupled with the modest five-percent growth in net interest income to P8.2 B. The bank also booked a one-time gain from the sale of their 15% stake in Toyota Motors Philippines Corp. Net interest margin improved to 4% against the 3.7% reported in the same period last year. - WealthSec