Metrobank sees slower asset growth, steady profit outlook
METROPOLITAN BANK & Trust Co. (Metrobank) expects asset growth to ease to single digits as weaker consumer demand drags expansion, even as higher interest rates support margins.
鈥淲e鈥檙e seeing GDP (gross domestic product) lower than expected, so asset growth will likely be in single digits rather than double digits,鈥 Fernand Antonio Tansingco, Metrobank financial markets sector head, said at a Philippine Stock Exchange event last week
He said higher rates should help profitability, with the bank expecting at least two more 25-basis-point increases this year that could push policy rates above 5%.
Metrobank said it could still meet earnings targets if credit quality holds, noting its loan book remains strong. Net interest margin is expected to rise by just under 5 bps for every 25-bp rate hike.聽鈥 AMCS
