Metrobank earns record P42.2 B in 2023

Metropolitan Trust Co. (Metrobank) Bank & posted record-high earnings of P42.2 billion in 2023, driven by asset expansion, higher margins, improving efficiency levels and better asset quality.

- LAWRENCE AGCAOILI

"This indicates that we are firmly on track with our long-term growth strategies supported by our highly capable and resilient team of Metrobankers and strong balance sheet. We look forward to further expanding our partnerships with all our stakeholders," Metrobank president Fabian Dee said in a statement.

The bank's net income was 28.9 percent higher than the P32.78 billion booked in 2022. This translated to a return on equity of 12.5 percent in 2023, higher than 10.3 percent in 2022.

Net interest income jumped by 22.7 percent to P104.97 billion, fueled by higher loan demand and better net interest margin of 3.9 percent.

The bank's loan book inched up by 8.4 percent to P1.54 trillion, driven by the 15.9 percent increase in its consumer portfolio on strong discretionary spending as well as the 5.5 percent rise in commercial loans.