Update on Metrobank Net Income in Q1 of 2022
METROBANK – Metropolitan Bank & Trust Company released its net income in the first quarter of the year 2022.
Among the entities that continued operating even amidst the strictest quarantine measures are banks. However, even though they are offering essential services, they were urged to implement changes that would fit the situation then. Several banks adjusted their banking hours and many of them also operated under a skeletal system.
The income of some banks was also affected by the COVID-19 crisis in the Philippines. A lot of people struggle to pay for their existing loans due to the impacts of the pandemic. Meanwhile, the country and some people are slowly moving to recovery now.
The recent net income of several banks showed signs of recovery, too. Recently, the Metropolitan Bank & Trust Company or more popularly known as “Metrobank” posted its net income for the first quarter of the year 2022.
Based on a report on ABS-CBN News, the net income of Metrobank for the first quarter of the year 2022 reached Php 8 billion. It is credited to the stable net interest income of the bank and as well as the recovery in loans, the increase in non-interest income, and the growth of marginal costs.
Metrobank president Fabian Dee stressed that the bank is ready to support the funding plans and the investment needs of its clients. Based on the report, the gross loans reached Php 1.3 trillion which is up by 5%. The total deposits reached P2 million following a 17% rise.
With regards to the non-performing loans (NPL), it declined by 5% to P27 billion. The NPL ratio is performing well to 2.2% from last year’s NPL ratio of 2.4%.
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