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

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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.

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. 

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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.

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.


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