Metrobank,

ments under the new tax regime implemented this year.

Asset quality metrics remained healthy and above industry average, as Metrobank’s nonperforming loans (NPL) ratio was “relatively flat” at 1.2% from 1.1% in the previous quarter, with NPL cover maintained at 110%.

The bank also set aside P5.2 billion in provisions for credit and impairment losses due to the impact of Philippine Financial Reporting Standards 9 adopted this year.

Metrobank’s net interest margin for the nine-month period stood at 3.88%, higher by nine basis points than the year-ago level. It was also higher than the 3.77% recorded in the first half of the year.

The bank’s assets totalled P2.1 trillion, with equity at P277.5 billion. Total capital adequacy ratio was at 17.8%, while its common equity Tier 1 ratio at 15.2%.

In the statement, Metrobank Chairman Arthur V. Ty said the lender’s strong performance during the nine-month period is “very encouraging” amid inflation concerns and rising interest rates.

“Credit demand remains healthy and the bank continues to grow cautiously its consumer, business and infrastructurerelated loan portfolio without incurring unnecessary risks to asset quality and profitability,” Mr. Ty was quoted as saying. “We will continue to be a key player in the country’s economic development, anchored on our long-term strategy of growth, good governance and sustainability.”

Last week, the bank raised P10 billion in fresh funds through fixed-rate bonds, which is part of its P100-billion bond and commercial paper program.

The issuance, which carry an interest rate of 7.15% and a two-year tenor, was the first by a local bank since the monetary authority allowed lenders to tap the capital market as a funding source without having to secure its approval.

Metrobank shares closed Wednesday’s session at P67 apiece, up P2.20 or 3.4%. •