Metrobank nine month profit up 44% to $137.15mln

Higher trading and foreign exchange gains, bank fees and commissions and strong contribution from key subsidiaries boosted growth.

Local banking giant Metropolitan Bank & Trust Co. hiked its nine-month consolidated net profit by 44 percent year-on-year to P6 billion ($137,15 million) on steady interest income alongside higher treasury and investment earnings.

Metrobank disclosed to the Philippine Stock Exchange on Monday that its operating income improved by 12 percent to P36.1 billion ($826.67 million) from a year ago, according to a report in The Philippine Daily Inquirer.

Net interest income amounted to P20.1 billion ($460.44 million), flat from a year ago, while non-interest income surged by 38 percent to P16 billion ($366.52 million) over the same period.

The latter was driven by higher trading and foreign exchange gains, bank fees and commissions as well as strong contribution from key subsidiaries.