Metropolitan Bank and Trust Company saw its full-year 2020 net income plunge by 50% to P13.8 billion, as it guarded itself from bad loans."In line with its strategy to better prepare for the risks associated with the pandemic, the bank booked provisions of P40.8 billion," Metrobank said.Metrobank's non-performing loan ratio went up to 2.41%.Due to its substantial capital, Metrobank declared a special cash dividend of P3 per share in addition to its regular dividend of P1 per share.
"Despite the events of 2020, our core business remains solid and we remain ready to be a key partner in economic recovery. Our high capital buffer has given us the opportunity to distribute more dividends this year," said Metrobank president Fabian Dee.– Rappler.com