Metrobank posts 40% increase in profit in 2012
MANILA, Philippines -Metropolitan Bank & Trust Company's (Metrobank) net income grew at a faster pace in 2012.
Metrobank reported a net income of P15.4 billion last year, 40% higher than the P11 billion in 2011.
The bank attributed this to an increase in deposits and net loans, saying consumer and commercial middle market lead the growth.
Metrobank says its assets have also breached the P1 trillion mark to end the year at P1.04 trillion. This is 9% higher than the previous year's P958.4 billion, mainly due to the 8% increase in deposits to P738.7 billion.
Net loans and receivables grew 15% year-on-year to P525.7 billion. - With ANC