Metrobank profit grows to P12.3B in first quarter

METROPOLITAN Bank & Trust Co. (Metrobank) saw net earnings for the first quarter of 2025 grow 2.5 percent to P12.3 billion, driven by robust loan growth, strong fee and trading income, and moderating cost increase.

"Our first-quarter performance keeps us on track in achieving our medium-term growth strategies even as global uncertainties continue to persist," Metrobank President Fabian Dee said in a statement.

Pre-provisions operating profit rose 8.8 percent to P18.8 billion, the bank said.

Net interest income stood at P29.4 billion at the end of the first quarter, thanks to sustained lending growth.

Gross loans expanded 16.1 percent year on year on strong performance across all segments, with commercial loans growing 16.1 percent and consumer loans up 16 percent.

The growth in consumer loans was said to have been driven by auto loans and gross credit card receivables, which surged 21.4 percent and 17.9 percent, respectively.

Total deposits amounted to P2.2 trillion, of which nearly two-thirds, or 64.4 percent, were low-cost current account savings account deposits.

Nonperforming loans (NPL) accounted for just 1.6 percent of total loans, lower than the industry's reported 3.5-percent NPL ratio as of February.

Meanwhile, Metrobank said it booked P2.6 billion in provisions for the quarter, with NPL cover remaining high at 150.9 percent.

The bank's shares jumped by P4.70, or 6.51 percent, to P76.90 apiece on Wednesday.