Metrobank earns P7.8 billion in Q1, up by 27.1%

Metropolitan Bank & Trust Company’s (Metrobank) net income leaped 27.1 percent YoY to P7.8 billion in the first quarter of 2021. The robust net income growth was due to stable asset quality, strong non-interest income performance, and marginal rise in operating expenses.

“Our strategy and prudent approach last year paved the way for a strong start in 2021,” said Metrobank President Fabian Dee. “Our capital position is double the regulatory minimum, with capital adequacy ratio (CAR) of 19.9 percent and Common Equity Tier 1 (CET1) of 19.0 percent. Our reserves also cover 166 percent of our non-performing loans (NPL). This ensures that Metrobank will sustain its business resilience, and we remain confident that the bank is ready to take on opportunities as the economy recovers. We are in a strong position to withstand a resurgence in asset quality risks and we remain vigilant even as we all continue to battle the pandemic,” Dee added.