Ty-led Metropolitan Bank & Trust Co. (Metrobank) reported a 14 percent year-on-year increase in net income to a record ₱48.1 billion in 2024, driven by loan growth fueled by robust asset expansion and improving asset quality.

In a disclosure to the Philippine Stock Exchange, the bank said this profit translated to a 13 percent return on equity, up from 12.5 percent in 2023.

Metrobank’s board of directors approved a total cash dividend of ₱5 per share for the year, consisting of a regular dividend of ₱3 per share (payable semi-annually) and a special cash dividend of ₱2 per share.

The combined dividends will total ₱22.49 billion. The first payout of ₱3.50 per share will be distributed to shareholders of 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.

Net interest income rose 8.7 percent to ₱114.1 billion, driven by a strong 17 percent expansion in gross loans, outpacing the industry’s 12.5 percent growth. Commercial loans grew 17.7 percent as corporations continued to increase capital spending. Consumer loans increased 14.4 percent on the back of an 18.6 percent rise in net credit card receivables and an 18.2 percent increase in auto loans.

Total deposits expanded eight percent year-on-year to ₱2.6 trillion, with low-cost current and savings accounts (CASA) accounting for 57.8 percent.

Fee and trust income edged up to ₱18.1 billion, supported by growth in the consumer business. The bank also recorded combined trading and foreign exchange gains of ₱5.6 billion in 2024, a 39 percent jump year-on-year.

Operating costs grew 11 percent year-on-year to ₱77.2 billion, driven by transaction-related taxes, as well as manpower, technology, and marketing costs, reflecting the bank's continued investment for growth.

Metrobank’s non-performing loan (NPL) ratio further eased to 1.43 percent from 1.69 percent in 2023, allowing the bank to reduce provisions by 29.2 percent year-on-year. NPL coverage remains high at 163.5 percent, providing a substantial buffer against emerging portfolio risks.

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

The bank’s capital adequacy ratio (CAR) is 16.7 percent, and its Common Equity Tier 1 (CET1) ratio is 15.9 percent, both well above the Bangko Sentral ng Pilipinas’ minimum regulatory requirements. Metrobank’s liquidity coverage ratio (LCR) is also high at 256.1 percent.