Metrobank sees 12-15% growth in loan portfolio

MANILA, Philippines – Metropolitan Bank & Trust Co. (Metrobank) is looking at a loan portfolio growth of up to 15 percent to P1.010 trillion this year.

Deposit portfolio is likewise estimated to expand by a similar rate of 12 to 15 percent.

Metrobank senior vice president Jett C. Gamboa said the bank also expects the economy growing at an equally strong pace of 6.3 percent this year.

Gamboa said a modest six percent growth rate in gross domestic product (GDP) normally results in a two to three percent growth in Metrobank’s loan portfolio.

Gamboa said Metrobank would continue to focus on the middle income market, small and medium enterprises and the consumer market. At least 26-percent of its loan portfolio is devoted to the retail market, specifically the auto and mortgage segment.

Gamboa said the bank is targeting to open up 30 new branches will be opened this year, as well as increase its electronic and digital capability.

Last year, Metrobank reported a net income of P18.6 billion, down seven percent from the P20 billion recorded in 2014.

Net interest income stood at P49 billion, with total loan portfolio of P887.2 billion and total deposit of P1.3 trillion, with a CASA ratio of 56 percent.

Net interest income accounted for 70-percent of total operating income in 2015, while net interest margin stood at 3.54-percent.

Total banks total resources stood at P1.8 trillion.