Metrobank posts 39% net profit growth in 2010

Metrobank posted a 39 per cent growth in its net profit in 2010. This is attributed to a surge in non-interest earnings. Officials disclosed that Metrobank earned US$193.55 million.

The bank's total revenues grew by 10 per cent to US$1.11 billion on back of 28-percent hike in non-interest income.

Net interest income increased 14.7 percent to US$608.30 million U.S. dollars in 2010. The net interest income derived from lending, investment and borrowing activities represented 54.86 percent of the Metrobank group's revenue net of interest and finance charges in 2010.

You can read the entire report at Xinhua.net.