Metrobank trust accounts jump 46.74% in first half

Metrobank recorded a 46.74-percent increase in trust assets for a total portfolio of P125.76 billion during the first half of the year. This increase translates to a P40.06-billion increment from P85.70 billion in the same period last year.

According to Metrobank executive vice president and trust officer Josefina E. Sulit, this comes from the robust performance of the bank’s newest product, Abundance, and its Common Trust Funds (CTFs).

Aside from the steady growth in its trust operations, the bank also experienced a 9.31-percent increase in net loans of P20.11 billion for a total of P236.05 billion during the first half of the year from P215.94 billion a year ago.

In other areas, bank deposits expanded by an additional P2.05 billion year-on-year for a total of P344.78 billion.

Metrobank’s resources reached P463.88 billion as of June 23, 2004. This is higher by 5.13 percent than its P441.23 billion level in the same period last year.

Capital stood at P51.96 billion from P51.17 billion last year.