|
METROPOLITAN Bank & Trust Co. (Metrobank) is seeing a 6
percent growth in loans this year, from a 5.17-percent
gain posted in 2007.
“Our
loan growth will be in line with the growth of the
economy. As you know, there has been a shift in
sentiments because of problems in the US,” said head for
treasury group Fernand Antonio Tansingco in an
interview.
The
bank’s loan portfolio will basically get a big kick from
corporate accounts related to mining, infrastructure and
energy projects.
Metrobank, largely owned by tycoon George Ty, ended 2007
with a net income of P7.04 billion, up by 27.48 percent
from P5.52 billion a year earlier.
Net
interest income improved 12.29 percent to P21.45
billion, compared to P19.10 billion in the same
comparable period. Meanwhile, non-interest income grew
11.7 percent to P 17.04 billion on account of improving
fee-based income and higher trading and securities
gains. This led to a 12.03 percent rise in total
operating income of P38.49 billion from P34.36 billion.
President Arthur Ty attributed the bank’s full-year
results to efforts that promote low-cost deposits and
improve the deposit mix.
“Lower
interest costs also helped us achieve positive results,
with interest expense falling 14.65 percent last year,”
he said.
Metrobank also maintained its ranking as the country’s
largest bank with consolidated total assets at end-2007
reaching a record P706.89 billion, a 10.19-percent—or
P65.35-billion—jump from P641.5 billion.
Consolidated total deposits rose to P530.03 billion from
P489.88 billion, an increase of 8.19 percent.
Consolidated net loans and receivables expanded to
P300.29 billion from P285.52 billion. This was brought
about by increases in corporate and commercial loans to
companies across all industries. In particular, the
consumer home and auto loan portfolio expanded
significantly due to increased demand, better product
offers like the Great Rates Sale and the prevailing
attractive-loan rates. |
