Metrobank posts record earnings of PHP 48.1B in 2024 

Metropolitan Bank & Trust Co.’s (Metrobank) net income rose by 14.0% year-on-year to a record PHP 48.1 billion in 2024, supported by robust asset expansion and improving asset quality.

This translated to a 13.0% return on equity, higher than the 12.5% recorded in the same period last year.

The Metrobank board also approved a total cash dividend of PHP 5.00 per share for the year. Aside from the regular dividend of PHP 3.00 per share that will be paid out on a semi-annual basis, a special cash dividend of PHP 2.00 was declared. The first payout of PHP 3.50 will be given to shareholders on record as of March 6, 2025.

“The hard work that all Metrobankers put in growing our corporate, middle market, retail, and wealth segments as well as our investments in technology and human resources and risk management initiatives continue to bear fruit,” said Metrobank President Fabian S. Dee. “This positive momentum and our strong balance sheet set us up very well to continuously meet the growing needs of our clients and to pursue our medium-term strategies,” he added.

The Bank’s net interest income rose 8.7% to PHP 114.1 billion on the back of a strong 17.0% expansion in gross loans, outpacing industry growth of 12.5%. Commercial loans surged by 17.7% as corporates continued to increase capital spending. Consumer loans grew by 14.4%, driven by an 18.6% rise in net credit card receivables and 18.2% growth in auto loans.

Total deposits rose by 8.0% to PHP 2.6 trillion from a year ago, of which low-cost Current and Savings Accounts (CASA) accounted for 57.8%.

Fee and trust income edged up to PHP 18.1 billion supported by growth in consumer business. In addition, the bank booked a combined trading and foreign exchange gain of PHP 5.6 billion in 2024, a 39% year-on-year improvement.

Operating costs grew 11.0%, year-on-year, to PHP 77.2 billion driven by transaction-related taxes as well as manpower, technology, and marketing costs as the bank continued to invest for growth.

Metrobank’s non-performing loans (NPLs) ratio further eased to 1.43% from 1.69% in 2023, which enabled the bank to reduce provisions by 29.2% year-on-year. NPL cover, nonetheless, remains high at 163.5%, providing a substantial buffer against any emerging risks to the portfolio.

Metrobank’s total consolidated assets stood at PHP 3.52 trillion, maintaining its status as the country’s second largest private universal bank. Total equity reached PHP 385.5 billion.

The bank’s fortress balance sheet remains evident with capital adequacy ratio at 16.7% and Common Equity Tier 1 (CET1) ratio at 15.9%, all well above the BSP’s minimum regulatory requirements. Metrobank’s Liquidity Coverage Ratio (LCR) is also high at 256.1%.

Metrobank was recognized by the Asian Banker as the country’s Strongest Bank for the fourth consecutive year. During the Euromoney Awards for Excellence 2024, it was also named as the Best Bank for Corporate Responsibility for its efforts via Metrobank Foundation to support the country’s education, arts, and social sectors. The Asian Banker also noted Metrobank as the Most Recommended Retail Bank in the Philippines, based on the results of The Asian Banker’s Annual BankQuality™ Consumer Survey in January 2024.