Metrobank profits down 50% in 2020, stocks up on high dividends
Feb 18, 2021 2:30 PM PHT
Before loan loss provisioning, Metrobank said its profits surged by 26% to P61.8 billion.
"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.
The provision for bad loans was 4 times more than the P10.1 billion it set aside in 2019.
Metrobank's non-performing loan ratio went up to 2.41%.
Total deposits reached P1.8 trillion.
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.