Metrobank reports record ₱48.1B net income for 2024

Ty-led Metropolitan Bank & Trust Co. (Metrobank) reported a record ₱48.1 billion in net income for 2024, marking a 14 percent year-on-year increase.

The bank's profit translated to a return on average equity of 12.97%, up from 12.5% the previous year, with net interest income climbing by 8.71% to ₱114.1 billion; gross loans expanded by 17%, outpacing industry growth.

Metrobank attributed its success to strong loan growth and robust asset expansion, supported by improvements in risk management and technology investments; commercial loans surged by 17.7 percent while consumer loans grew by 14.4 percent as net credit card receivables increased by 18.6%, and auto loans rose by 18.2%.

Total deposits expanded eight percent year-on-year to ₱2.6 trillion, with fee and trust income hitting P18.1 billion supported by the consumer business; operating costs for the year stood at P77.2 billion, reflecting an 11.0% increase due to transaction related taxes, along with manpower, technology, and marketing costs.

Metrobank's board approved a total cash dividend of ₱5 per share, including a special dividend of ₱3 per share.