Metrobank posts record net income in first half of 2024 | ABS-CBN
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Metrobank posts record net income in first half of 2024
Metrobank posts record net income in first half of 2024
ABS-CBN News
Published Aug 01, 2024 11:52 AM PHT

MANILA -- Metrobank posted a record P23.6 billion net income in the first half of 2024, up 13 percent from 2023 figures.
MANILA -- Metrobank posted a record P23.6 billion net income in the first half of 2024, up 13 percent from 2023 figures.
The lender said this is because of expanding assets, stable margins, well-managed cost growth and healthy asset quality.
The lender said this is because of expanding assets, stable margins, well-managed cost growth and healthy asset quality.
Total loans are up 14.9 percent year-on-year, driven by a 15.2 percent increase in commercial loans and 13.7 uptick in consumer loans.
Total loans are up 14.9 percent year-on-year, driven by a 15.2 percent increase in commercial loans and 13.7 uptick in consumer loans.
Net credit card receivables also surged by 21.4 percent, while car loans grew by 16.6 percent.
Net credit card receivables also surged by 21.4 percent, while car loans grew by 16.6 percent.
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On top of volumes, margins also improved to 4 percent from 3.9 percent in the same period in 2023.
On top of volumes, margins also improved to 4 percent from 3.9 percent in the same period in 2023.
Total deposits, meanwhile, grew 7.8 percent to P2.4 trillion.
Total deposits, meanwhile, grew 7.8 percent to P2.4 trillion.
Non-performing loans (NPLs) ratio improved to 1.66 percent from 1.84 percent in the same period in 2023.
Non-performing loans (NPLs) ratio improved to 1.66 percent from 1.84 percent in the same period in 2023.
Metrobank said its net income grew 28.9 percent to P42.2 billion in 2023.
Metrobank said its net income grew 28.9 percent to P42.2 billion in 2023.
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