The net income of Metropolitan Bank & Trust Co., the flagship banking arm of the Ty family, soared in the first semester of 2023 due to higher loans and profit margins. The bank reported a 34.1% increase in earnings from January to June, amounting to nearly P21 billion. Net interest income also rose by 27% compared to the same period last year, reaching P50.6 billion. This resulted in a higher return on equity of 12.9%, up from 10% in the previous year. Metrobank President Fabian S. Dee expressed confidence in the bank’s continued growth and its ability to serve its customers in an expanding economy.
In the second quarter alone, Metrobank recorded a net income of P10.4 billion, a significant increase of 37.1%. The bank’s gross loans for the first half of the year grew by 8.6% year-on-year, driven by a rise in both commercial and consumer loans. Total deposits also increased by 9.3% to P2.3 trillion. Additionally, Metrobank saw trading and foreign exchange gains of P3.1 billion and a 10.2% rise in fee income to P8.1 billion.
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