{"id":128974,"date":"2017-11-07T00:41:25","date_gmt":"2017-11-07T05:41:25","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=128974"},"modified":"2017-11-07T00:41:25","modified_gmt":"2017-11-07T05:41:25","slug":"metrobank-consolidated-net-income-up-5","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/11\/07\/metrobank-consolidated-net-income-up-5\/","title":{"rendered":"Metrobank consolidated net income up 5%"},"content":{"rendered":"
\"Metrobank<\/a>
Metrobank President Fabian S. Dee, in the disclosure said, their core earnings \u201care moving ahead of plans.\u201d (Photo<\/a>: Metrobank<\/a>)<\/figcaption><\/figure>\n

MANILA —\u00a0 Growth of loans and low-cost deposits boosted Metropolitan Bank & Trust Company\u2019s (Metrobank) unaudited consolidated net income in end-September 2017 by five percent year-on-year to PHP13.2 billion.<\/p>\n

\u201cFee income drivers continued to improve and operating expenses were again capped at a single-digit growth rate,\u201d the bank said in a disclosure with the Philippine Stock Exchange (PSE) Monday.<\/p>\n

Metrobank President Fabian S. Dee, in the disclosure said, their core earnings \u201care moving ahead of plans.\u201d<\/p>\n

\u201cAnd we are also continuously improving our operations and have made the necessary enhancements to our internal processes to ensure that we become an even stronger institution. We would like to thank our customers for their support as we move forward and continue to deliver premium customer experience to them,\u201d he said.<\/p>\n

The bank said low-cost deposits grew by 15 percent, with the current account and savings accounts (CASA) sharing 62 percent of the PHP1.5 trillion total deposits.<\/p>\n

\u201cThis healthy mix of funding supported the 20 percent year-on-year growth in net loans and receivables to reach PHP1.2 trillion,\u201d it said, citing that \u201cthe commercial segment was again at the forefront of this growth as the Bank continued to provide funding to both corporate and middle market clients in support of the local economy.\u201d<\/p>\n

Net interest margin got better at 3.8 percent because of loan growth, it said, noting the 16 percent rise in net interest income, which accounted for 72 percent of the bank\u2019s PHP62.9 billion revenues.<\/p>\n

Non-interest income amounted to PHP17.6 billion, PHP9.1 billion of which are from service fees and commission, PHP4 billion from net trading and grains from foreign exchange, and PHP4.5 billion in miscellaneous income.<\/p>\n

Operating cost reached PHP35.8 billion during the nine-month period, eight percent higher year-on-year while provisioning for credit and impairment loss reached PHP5.9 billion.<\/p>\n

Non-performing loan (NPL) ratio stood at 1.07 percent, better than industry average.<\/p>\n

Total equity to date reached PHP210.4 billion and capital adequacy ratio (CAR), a gauge of bank\u2019s financial health, is at 16 percent, higher than 10 percent regulatory requirements. Common Equity Tier 1 (CET1) ratio is 13.3 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA —\u00a0 Growth of loans and low-cost deposits boosted Metropolitan Bank & Trust Company\u2019s (Metrobank) unaudited consolidated net income in …<\/p>\n","protected":false},"author":33,"featured_media":128979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[20523,21167],"class_list":["post-128974","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-metrobank","tag-net-income","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/128974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=128974"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/128974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/128979"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=128974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=128974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=128974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}