Metrobank profits down 50% in 2020, stocks up on high dividends

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Before loan loss provisioning, Metrobank says its net income surged by 26% to P61.8 billion.

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines