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METROPOLITAN Bank and Trust Co. (Metrobank) said it
will dispose more of its real and other properties acquired (ROPA)
this year.
Jette C. Gamboa, Metrobank
assistant vice president, told reporters the lender will sell from
P5 billion to P10 billion of the bad assets this year.
The country’s biggest lender
has sold P2.1 billion of foreclosed assets in the first quarter of
the year.
Metrobank had P31 billion worth
of ROPAs as of last year based on book values. Valued at the market,
the bad assets however are worth P48 billion.
Gamboa said the bank expects loan
growth to reach 6 percent this year, slightly lower than the 7
percent last year.
Net loans and receivables grew
15.5 percent year-on-year to P314 billion in the first quarter on
the back of continued consumer loan growth.
Gamboa said the bank will focus
on its lending business on the back of lower trading gains.
Metrobank’s net income fell by
15.64 percent to P1.76 billion in the first quarter of the year from
P2.08 billion in the same period last year.
Arthur Ty, Metrobank president,
told reporters the lender anticipates a challenging year given the
uncertainty in the US economy and global financial markets.
“Loan growth will ride on the
prospects of the economy, with demand expected from power,
telecommunications, infrastructure, tourism and business process
outsourcing sectors,” he said.
The bank president said inflation
will remain a pressing concern this year, giving upward pressure to
interest rates.
Ty said economic growth will slow
this year but will continue to be fueled by the services industry
and consumption demand.
To date, Metrobank’s
consolidated resources reached P677.96 billion, up by 2.20 percent
year-on-year.
 --Maricel
E. Burgonio
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