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 2012: GT Capital's Q1 profit soars 50%

Extract from the text of the original document: "figure shows the fraction of gross domestic product (GDP) devoted to health care in a number of developed countries in 2006. According to the Organization for Economic Cooperation and Development (OECD), the United States spent 15.3 percent of its GDP on health care in 2006. The next highest country was Switzerland, with 11.3 percent. In most other high-income countries, the share was less than 10 percent." (Photo credit: Wikipedia)
GT Capital Holdings, the investment vehicle for the various business interests of the Ty family, has reported a 50.5 percent increase in its net earnings for the first three months of 2012 to P1.3 billion, spurred by growth across all component companies.

In a statement, GT Capital president Carmelo ML. Bautista said the strong growth performance mirrors the consumption-driven growth of the domestic economy.

“GT Capital’s component companies are already market leaders in their respective sectors and therefore have the strategic advantage with gross domestic product (GDP) growth expected at five percent or better,” he said.

Real estate unit Federal Land Inc. showed major improvement in its sales revenue as net income grew to P110 million, up 123 percent compared to last year.

Despite the strong Japanese yen, vehicle manufacturing arm Toyota Motors Philippines increased its sales by seven percent, boosting its market share to 38 percent, with a net income of P673 million as of end-March.

Top leader Metropolitan Bank & Trust Co. (Metrobank) reported a 40-percent income growth versus the same period last year to P4.3 billion attributed to the higher than expected growth of its loan book by 18 percent, and higher earnings across its core lending, treasury and investment and fee-based business.

Insurance unit AXA Philippines’ net income grew 25 percent for the first three months of 2012 to P164 million.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=807317

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Stock News 2012: Metrobank earnings rise 32% to P11 B

One of the country’s top lenders Metropolitan Bank & Trust Co. (Metrobank) registered its fourth straight year of strong income growth as it reported a 32 percent increase in net earnings in 2011 to P11 billion.

In a statement, Metrobank said total deposits grew 4.6 percent year-on-year to P681 billion while net loans and receivables rose 16.5 percent to P457.4 billion, with strong growth coming from both the consumer and commercial segments.

Thus, operating income growth was supported by the 11.4-percent increase in net interest income to P29.4 billion which, in turn, was driven by the 7.3-percent growth in low cost deposits and the 16.5 percent hike in net loans and receivables.

Metrobank likewise recorded a return on average equity of 11.2 percent in 2011, from 10.3 percent the previous year.

Meanwhile, its healthy growth in assets and improved deposit mix pushed net interest margin 11 basis points higher to 3.5 percent.

In addition, service charges, fees and commissions registered a healthy 12.5 percent increase to P7.7 billion, while income from trading and foreign exchange grew to P7.7 billion.

Operating expenses grew 10.3 percent year-on-year to P30.7 billion, driven by higher manpower and occupancy-related costs.

Provisions for credit and impairment losses declined 47.5 percent to P3.8 billion, as gross non-performing loans (NPLs) were reduced by 8.3 percent, settling at P10.1 billion by the end of 2011.

Thus, the NPL ratio further declined to 2.2 percent at yearend, from 2.9 percent in 2010, while the NPL coverage was comfortably higher at 99.5 percent, from 92.3 percent in 2010.

Consolidated assets ballooned further to P958.4 billion, or eight percent more than the P887.3 billion in 2010.

Total equity reached P109.8 billion, up 25.3 percent from the previous year’s P87.6 billion.

At the end of 2011, Metrobank’s capital adequacy ratio (CAR) further improved to 17.4 percent from 16.4 percent in 2010, well above the 10 percent regulatory minimum. Tier 1 capital ratio likewise rose to 13.7 percent, from 12 percent in the previous year.

http://www.philstar.com/ArticleListBySubCategory.aspx?publicationSubCategoryId=66

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Stock News 2011: PSBank net profit up 46% to P1.8 billion

Image via Wikipedia
Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, expects net income to hit P2 billion this year after it reported a 46 percent surge in its 2010 audited net income to P1.8 billion from the P1.2 billion recorded in 2009.

In a disclosure to the Philippine Stock Exchange, the Bank said it had breached its P1.4 billion 2010 net income target as early as the third quarter last year. Earnings this year is expected to be driven by continuing improvements in its core revenues.

The 2010 net income of the country’s second largest thrift bank is supported by the growth in assets from P93.1 billion to P104.1 billion. Of this amount, gross loans expanded by 15 percent to P55.6 billion with auto loans rising by 27 percent, mortgage loans by 11 percent and personal loans by 9 percent.

On the other hand, the Bank’s investments portfolio, contributed an increase of 13 percent to P26.2 billion.

“The Bank’s outstanding performance and growth in market share in 2010 were due to strong consumer demand, backed by product improvements and excellent customer service. Price is not the only factor that customers consider, they also look for speed in delivery, convenience and reliability,” PSBank president Pascual M. Garcia III said.

http://www.mb.com.ph/node/300716/p

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