Metrobank says H1 net income down due to COVID-19 'proactive measures'

Metrobank says H1 net income down due to COVID19 'proactive measures'

MANILA - Metropolitan Bank & Trust Co said Monday its net income declined in the first half of 2020 but it continues to build reserves as the business "remains strong" despite the coronavirus pandemic.

It also increased loan provisions for potential risks to P22.8 billion, it said. Pre-provision operating profit grew 61 percent while the balance sheet is solid with good deposit levels, said Metrobank president Fabian Dee.

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