Metrobank’s 2022 net profits exceeded pre-pandemic earnings by 48%

3 min read
metrobank's 2022 net profits exceeded pre pandemic earnings by 48%

In 2022, the Metropolitan Bank & Trust Corporation (Metrobank) recorded a net income gain of 48% due to the resumption of corporate and consumer financial activities.

The universal bank also ended the year on a positive note, with fourth-quarter earnings reaching P9.3 billion, a 55 percent gain from the previous year. This boosted Metrobank’s net income for the year to P32.8 billion, surpassing its pre-pandemic net income of P28.9 billion for the first time in 2019.

The bank’s net interest income climbed by 14% due to increasing loan demand and a 3.6% improvement in its net interest margin.

Keep Reading

The bank created by the late businessman George Ty experienced a 14% increase in gross loans and a 15% increase in corporate and commercial loans. Additionally, the bank’s consumer lending business reported a 29% rise in net credit card loans.

Metrobank approved a total cash dividend of P3.00 per share for the year 2022, as its capital position and profits improved. Similar to its action in 2021, the bank distributed a semi-annual dividend of P0.80 per share in addition to a special cash dividend of P1.40 per share.

Metrobank grew its total consolidated assets to P2.8 trillion by the end of the year, making it the second largest private universal bank in the country. On the liability and equity side, total deposits increased by 15% to P2.2 trillion, while total equity amounted to P318.5 billion.

Dee stated, “With our robust balance sheet and highly talented staff of Metrobankers, we are prepared to continue to be the long-term partner of all our stakeholders.”

Also Read:- Malaysia investigated 150 foreign detainee fatalities last year

Load More By Katherine S
Load More In Business
Notify of
Inline Feedbacks
View all comments

Check Also

Changi Airport Delays Cause Frustration for Travelers

Changi Airport in Singapore has been facing delays and longer-than-usual wait periods at i…