Metropolitan Bank & Trust Co., the second-largest bank in terms of assets, said net income in the first nine months fell 12.6 percent to P12.6 billion.
Metrobank said its performance was driven by sustained low-cost funds generation and robust loan demand coming from corporate expansion, project financing and infrastructure spending.
“We are pleased with the positive trends we see in our core business. Low cost funding remains healthy. our margins are improving amid heavy competition, and loan demand is better than we originally expected,” said Metrobank president Fabian Dee.
“It’s also very encouraging that growth prospects abound, and with our strong capital position. it gives us the leverage to sustain this momentum moving forward” Dee said.
The bank said casa (current account, savings account) deposits sustained a high growth rate of 21 percent to P790.8 billion. Casa ratio improved to 63 percent of the total P1.2-trillion deposit base, from 56 percent year ago.
Net loans and receivables surged 26 percent year-on-year to P965.1 billion and accounted for 56 percent of total assets.
