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Metrobank’s net profit almost doubles in Q2
Metropolitan Bank & Trust Co. (Metrobank) announced a record net income of P15.6 billion for the first half of 2022, marking a 33 percent increase from the previous year.
This strong financial performance was driven by a 95 percent surge in second-quarter earnings, reaching P7.6 billion.
The bank's success was attributed to accelerated loan expansion, improved interest margins, robust fee income, controlled operating costs, and reduced provisions for potential losses.
Metrobank's gross loans grew by 9 percent to P1.3 trillion, boosted by increases in corporate and commercial lending, alongside credit card receivables.
Furthermore, non-performing loans (NPL) decreased by 7 percent, resulting in an NPL ratio of 1.9 percent, an improvement from 2.3 percent in the prior year.
Metrobank President Fabian Dee stated that the bank's strategy of serving client needs while managing risks and promoting efficiencies has led to these solid operating results.
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