Metrobank Net Profit for Q3 Increased By 49% | Marvin Germo

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Metrobank Net Profit for Q3 Increased By 49%

By: Marvin Germo | October 26, 2019

Metrobank Q3 Performance is Out

Metropolitan Bank & Trust Corp., the TY family-led bank, has disclosed its performance for the third quarter of the year. According to the bank, its net profit grew by 49% or equivalent to P8.5 billion during the second to the last quarter of 2019. For the nine-month period, the total income of the bank reached P21.6 billion and it is up by 28.9% if you compare it from last year during the same period. Let’s see the exciting parts of this news.

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Reason for Profit Increase

Are you curious about what brought Metrobank at this good state? We are curious too! In the disclosure made, the bank attributed its growth of earnings to the consistent expansion in operating revenues. Aside from this, there is also moderate growth in the loan, margin, strong trading and foreign exchange gains, and fee-based income. These are all contributors to a higher net profit of the bank. It is important too that investors know these in order to plan the next stock market move. For all those who have investments in MBT, may this news serve as fascinating news that the bank is performing well.

Metrobank By Figures

For the three quarters, the net interest income of Metrobank grew by 10% or equivalent to P56.2 billion. This accounts for 70% of the total revenues of the bank. Meanwhile, the net interest margin went up to 3.91% from 3.83% in the second quarter. The loan book also grew by 7% or equal to P1.4 trillion. On the other hand, the non-interest income of the bank jumped by 36% or P23.7 billion for nine months. The non-interest income includes P10 billion generated from service fees and commissions which is higher than the P9.1 billion last year, during the same period. The net trading and foreign exchange gains rose to P8.1 billion. This is quadruple of what’s reported last year.

Second Quarter Performance

During the second quarter of the year, Metrobank also had an increase in net profit. It generated net profit that’s 31% higher or P5.2 billion from P3.9 billion in the second quarter of 2018. With this increase, Metrobank’s net income stood at P11 billion in the first half of the year. This rise was attributable to the growth in loans and sustained current account and savings account ratio, which brings the margins higher. From the second quarter to the third quarter, the bank is really doing well based on the figures mentioned above.

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