February 23, 2017

Metrobank nets P18.1B in 2016

In a disclosure to the Exchange, Metrobank (MBT) reported that it earned P18.1b in 2016 which is relatively flat from the 2015 level.

Net interest income came in at P53.0B, up 8% on a 20% loan growth (to P1 Trillion). The latter was driven by the 22% growth in commercial loans and the 16% growth in consumer loans.

CASA deposits grew 21% to P846B and now comprises 61% of the bank’s P1.4T deposit base (up from 56% the previous year). These efforts allowed the bank to keep its margins steady YoY (Year-over-Year) at 3.54%.

Non-interest income grew 37% to P25.2B, mainly because of improved trading gains at P8.1B, up 350%. In 4Q16 alone, the bank generated P3.9B in trading gains as it sold a portion of its held-to-maturity (HTM) portfolio.

Meanwhile, operating expenses grew 11% to P44.2B, mainly driven by higher manpower costs and in line with the bank’s plans to hire more personnel to improve customer coverage. Net-performing loan ratio (NPL) came in 0.94%, a slight improvement from 1.0% the previous year.

The bank ended the year with parent CAR of 14.2% and parent CET1 Ratio of 11.2%.