MANILA -The Ty household’s flagship banking arm Metropolitan Bank & Trust Co. stated internet revenue within the first semester of 2023 surged on larger loans and revenue margins.
Earnings from January to June jumped 34.1 p.c to almost P21 billion as internet curiosity revenue reached P50.6 billion, up 27 p.c over the identical interval in 2022, Metrobank stated in a press release on Wednesday.
This pushed up the banking big’s return on fairness to 12.9 p.c versus 10 p.c that was booked final yr.
“Our core businesses continued to grow and benefit from our strong balance sheet,” Metrobank President Fabian S. Dee stated within the assertion.
“As the economy further expands, we see more market opportunities that will keep our upward momentum and sustain our efforts to better serve our customers,” he added.
For the second quarter alone, Metrobank stated internet revenue reached P10.4 billion, up 37.1 p.c.
In the primary half of the yr, gross loans climbed 8.6 p.c year-on-year, pushed by a 7.2-percent rise in business loans and 14.1-percent growth in client loans.
Total deposits grew by 9.3 p.c year-on-year to P2.3 trillion. Trading and overseas change positive aspects stood at P3.1 billion whereas charge revenue rose by 10.2 p.c to P8.1 billion.
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