Metrobank issues dividends on strong capital position; ends 2020 with P13.8 billion net income

THE country’s second largest bank, Metrobank, disclosed today that it declared a special cash dividend of P3.0 per share, in addition to the regular dividend of P1.0 per share. The bank’s strong and sustained capital position prompted this move. In the meantime, Metrobank continues to build buffers as it booked provisions of P40.8 billion. While income before provisions increased by 26 percent to P61.8 billion , the bank reported a P13.8 billion net income in 2020.

“Our strategy of early and aggressive provisioning in 2020 has made Metrobank stronger and well-prepared to weather future risks. Despite the events of 2020, our core business remains solid and we remain ready to be a key partner in economic recovery. Our high capital buffer has given us the opportunity to distribute more dividends this year. We will continue monitoring economic conditions and considering strategies that will maintain a balance between strong capital and optimal returns,” said Metrobank President Fabian Dee.