Metropolitan Bank and Trust Company (Metrobank) has launched its Metro Multi-Themed Equity Fund of Funds that will allow investors to invest in the digital industry overseas. The bank noted that, “Over the last year, the COVID-19 pandemic has completely overhauled the way society use and maximize t
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Metrobank profits leap 27% in Q1 2021 despite weak loan demand
May 3, 2021 1:10 PM PHT
Metropolitan Bank and Trust Company (Metrobank) saw its profits leap by 27.1% to P7.8 billion in the 1st quarter of 2021, driven mainly by strong non-interest income performance and marginal rise in operating expenses.
Non-interest income surged by 28% to P7.9 billion, while fee-based revenue was flat at P3.3 billion. Trading and forex gains doubled to P2.9 billion. With the pandemic still ongoing, loan demand remained slow, and naturally, net interest income trended lower, Metrobank said.
Total current and savings account deposits grew by 16% to P1.3 trillion.
Metrobank s operating expenses inched up by 1.4% to P14.7 billion on the back of operational efficiency.