Metropolitan Bank & Trust Co., the country’s second largest lender in terms of assets, said consolidated net income rose slightly in 2017 to P18.2 billion from P18.1 billion in 2016.
Metrobank president Fabian Dee said in a statement the strength of deposit franchise continued to support loan growth, particularly in the commercial space as the bank helped finance the expansion plans of customers.
“Our momentum continues to build up, and we are well-positioned to accelerate our growth plans moving forward,” Dee said.
Total resources closed at a new high of P2.1 trillion as deposits reached P1.5 trillion, with low-cost deposits increasing 12 percent to P950 billion.
The loan portfolio expanded 19 percent year-on-year to hit P1.3 trillion. The commercial segment, mainly the middle market and SMEs, led the growth with 20 percent while consumer loans increased 17 percent.
Metrobank ended 2017 with 952 branches and 2,352 ATMs nationwide.
