Metrobank stock price gains week on week

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Bank and Trust Co. (Metrobank) was granted a universal banking license by the Bangko Sentral ng Pilipinas on August 21, 1981. Photo shows Metrobank head office in Makati. PHOTO FROM METROBANK WEBSITE” data-alt-srcset=”https://www.manilatimes.net/manilatimes/uploads/images/2022/11/06/124104.jpg” data-default-srcset=”https://cdn4.premiumread.com/?url=https://www.manilatimes.net/theme_manilatimes/images/no-image.jpg&w=852&q=100&f=webp” width=”100%” height=”100%” onerror=”this.src=” https:=””/>

The Metropolitan Bank and Trust Co. (Metrobank) was granted a universal banking license by the Bangko Sentral ng Pilipinas on August 21, 1981. Photo shows Metrobank head office in Makati. PHOTO FROM METROBANK WEBSITE

Metropolitan Bank and Trust Co. (Metrobank) share price increased week-over-week by 0.87% to 52.15P on Friday, November 4, 2022, from its previous price on October 28, 2022 of 51.70 p.

The company’s 52-week high closing price was 60.75 pesos per share on February 22, 2021, while its lowest closing price was 45.65 pesos per share on July 20. 2022. Its net profits over the past three years were as follows: 28.87 billion pesos in 2019, 13.97 billion pesos in 2020 and 22.36 billion pesos in 2021.

In addition, the company’s net profit increased by 45% to 23.4 billion pesos in the first nine months of 2022 compared to the same period a year ago, propelled by the continued expansion of the portfolio. bank loans, better margins, healthy fee income, stable operating expenses and lower provisions.

Metrobank’s profits also jumped 77% to P7.8 billion, especially in the third quarter of this year compared to the same period last year.

Meanwhile, the bank’s net interest income rose 10% to 62.1 billion pesos for the first nine months of 2022, with the net interest margin further improving to 3.5%.

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The bank’s gross lending from January to September this year rose 12% year-on-year to 1.4 trillion pesos, driven by 15% growth in business and corporate loans and a 22% increase gross credit card receivables.

Total deposits also increased by 11% in the first nine months of 2022 to reach 2 trillion pesos. Meanwhile, Metrobank’s non-interest income held steady thanks to a 15% increase in fees and charges.

According to the Philippine Stock Exchange Directory, Metrobank was incorporated on April 6, 1962, by a group of Filipino businessmen, primarily to provide financial services to the Filipino Chinese community. The bank eventually diversified its business to provide a range of banking and guarantee services. On August 21, 1981, Metrobank was granted a Universal Banking License by Bangko Sentral ng Pilipinas.

Major subsidiaries of the bank include First Metro Investment Corp., Philippine Savings Bank, Metrobank Card Corp. and Orix Metro Leasing and Finance Corp.


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