Metrobank’s net income up 9.6% in Q2

The bank reported higher gross revenue and expenses for the quarter.

Philippine-based Metropolitan Bank & Trust Company (Metrobank) reported a net income of $200.99m (PHP11.61b) in Q2, up 9.6% quarter-on-quarter (QoQ) compared to Q1, data from the Philippine Stock Exchange (PSE) showed.

Gross revenue for the April-June period is $601.07m (PHP34.72b), higher than the PHP32.51b it earned in the first three months of 2024. 

Gross expenses rose to $318.38m (PHP18.39b), higher than its Q1 expenses of almost $290.51m (PHP16.78b).

Metrobank’s basic earnings per share for Q2 is PHP2.58 (approximately $0.045). Combined with the first quarter, Metrobank’s EPS year-to-date is PHP5.25 (approximately $0.091)

As of 7 August, Metrobank’s total assets came at over $56.78b (PHP3.28t). Total liabilities are $50.38b (PHP2.91t).

(US$1 = PHP57.76; as of 7 August 2024, 12:36PM)