Stock News 2013: Metrobank nets P15.4 B in 2012

Metropolitan Bank and Trust Company (Photo credit: Wikipedia)

Local banking giant Metropolitan Bank and Trust Co. increased its net profit last year by 40 percent to a record-high P15.4 billion on higher interest and non-interest earnings.

Metrobank, the banking arm of tycoon George Ty, also announced that its balance sheet had exceeded the P1-trillion mark for the first time. Total assets increased by 9 percent to total P1.04 trillion by the end of the year. It is the second Philippine bank to breach this milestone after Banco de Oro Unibank.

The increase in balance sheet was fueled by a 15-percent rise in its loan book to P525.7 billion, with the consumer and commercial middle market leading the growth. The expansion in earning assets was supported by an 8-percent growth in deposits to P738.7 billion.

Total operating income improved by 16 percent to P58.7 billion on the back of a 5-percent growth in net interest income to P30.8 billion. Non-interest income also increased by 33 percent.

Despite intensified market competition, Metrobank noted that its net interest margin improved to 3.6 percent from last year’s 3.5 percent supported by a more favorable deposit mix.

http://business.inquirer.net/111051/metrobank-nets-p15-4-b-in-2012

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Stock News 2013: UCPB ’12 profit up by 22%

English: The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)

United Coconut Planters Bank posted a net profit of P3.73 billion last year, 22 percent higher than the previous year, on higher interest earnings and extraordinary treasury gains.

“In spite of 2012 being a demanding year both strategically and financially, we at UCPB are satisfied to have achieved these results. We are definitely looking forward to this year, being our 50th anniversary, and revisiting the basic fundamentals that have made us a reliable banking partner for our target market,” UCPB president and chief executive officer Jeronimo Kilayko said in a statement.

The bank grew its loan book by 24 percent to P87.72 billion last year, with the consumer portfolio rising by 33 percent. Corporate accounts made up 45 percent of the loan portfolio.

Net interest income rose about 4 percent to P3.56 billion year on year.

Like most of its peers, the decline in interest rates to record-low levels last year favored the treasury business. Securities trading gains jacked up UCPB’s non-interest income by 47 percent to about P5.2 billion last year.

On fee-based business, ATM transactions grew by 20 percent from the previous year. “The growth in fees will continue to be robust because of the introduction of products such as UCPB Connect, an online facility meant to provide banking flexibility and convenience to clients. This fairly advanced banking system includes a mobile banking component which allows users to access their bank statement and pay bills through mobile devices,” the bank said.

UCPB ended 2012 with total assets hitting P218.72 billion, up by 9 percent from a year before. This was attributed to “sound financial fundamentals and knowledge of the current market conditions.”

http://business.inquirer.net/109307/ucpb-12-profit-up-by-22

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Stock News 2012: UCPB net profit up 34% in Q1

Loans (Photo credit: zingbot)
Coming on the heels of the formal extension of its corporate life as granted by its shareholders recently, UCPB announced a robust performance for the first quarter of 2012 as its consolidated net income grew by 34 percent to P883.7 million from a year ago attributing it to the strong trading gains and high interest income posted by its business units.

“Businesses normally slow down during this period but we still managed to sustain our growth in 2011. Our strong first quarter performance bodes well for the future of the bank,” UCPB president and CEO Jeronimo Kilayko said.

UCPB took advantage of the volatile fixed income market thereby expanding its trading gains by more than three hundred folds during the first three months of the year to P486.9 million from P111.2 million in the same period last year.

Meanwhile, interest income from loans rose by 15 percent as the bank expanded its loan portfolio to P73.6 million by end of March 2012 from P62.1 as of March 2011.

Consumer loans from the parent company went up at a faster rate primarily due to the bank’s tie-ups with major real estate developers. This provided the bank access to more clients who would like to borrow money for their dream house.

Funding for these loans came from the inexpensive checking and savings accounts (CASA) which amounted to P102.2 million as of end of March 2012 from P98 million a year ago.

CASA comprised 63 percent of the total deposits which rose by nine percent to P162 million in the first quarter versus P148 million in 2010.

And as UCPB’s business grew, management successfully kept the growth of its operating expense at a minimum.

By end of the first quarter, UCPB’s total assets stood at P204 million, 13 percent higher than a year ago while total capital increased by 23 percent to P17.9 million.

UCPB’s first quarter feat comes on the heels of its robust income growth in 2011 which reached P3.05 billion or 25 percent higher than the previous year.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=804441

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