METROPOLITAN Bank & Trust Co. (Metrobank) posted a 28 percent increase in net income to P11.7 billion for the first half of 2021. Profit growth accelerated to 29.9 percent to P3.9 billion in the second quarter of 2021 on the back of strong recovery in fee income and lower cost base, while the proactive provisioning last year and stable asset quality has enabled the bank to trim provisions.
"With the sustained progress in vaccination roll-outs across the country, we are optimistic of the recovery of the economy. We remain driven to keep our growth momentum," says Metrobank President Fabian Dee. "Our reserves already cover 179.0 percent of nonperforming loans (NPLs). Capital ratios are almost double the regulatory minimum and with abundant liquidity, the bank is in a strong position to endure prolonged risks. We have the capacity and are looking forward to provide funding support to business activities that will help push economic recovery," adds Dee.