Metrobank posts record P48.1 billion net income in 2024

Metrobank achieved a record net income of ₱48.1 billion in 2024, marking a 14 percent increase from the previous year.

This profitability was propelled by a robust 17 percent expansion in gross loans, surpassing the industry's average expansion of 12.5 percent.

Commercial loans saw a substantial 17.7 percent increase, reflecting increased capital spending by corporations, while consumer loans grew by 14.4 percent.

The bank's net interest income rose by 8.7 percent to ₱114.1 billion.

Fee and trust income hit P18.1 billion supported by the consumer business, while trading and foreign exchange gains improved by 39% to P5.6 billion.

Operating costs for the year stood at P77.2 billion, an 11.0% increase due to transaction-related taxes, manpower, technology, and marketing costs.

The bank's nonperforming loans ratio eased to 1.43 percent, slashing loan provisions by 29.2 percent.

As of end-December, Metrobank's total assets stood at P3.52 trillion, while total equity was at P385.5 billion.

Metrobank president Fabian Dee stated that this positive momentum and strong balance sheet position the bank well to meet client needs and pursue medium-term strategies.