Metropolitan Bank & Trust Company (MBT) Q1 2026 earnings summary

Executive summary

• Net income attributable to equity holders rose 2.86% YoY to P12.60bn, supported by loan growth and higher net interest income.

• Total assets fell 2.99% from December 2025 to P3.76tn, mainly due to lower investment securities and cash balances.

• Comprehensive loss was P2.69bn, versus P14.46bn income in 1Q25, driven by P18.68bn net unrealized losses on FVOCI debt securities.

Financial highlights

• Gross revenue was P40.51bn, up from P38.06bn; net interest income rose 13.57% to P33.36bn.

• Net interest margin was 3.74%, up from 3.62%; non-interest income was P6.93bn, with trading and FX gains down 78% and service fees and trust income up 12%.

• Operating expenses increased 9.83% to P21.15bn, mainly from higher taxes, licenses and service costs; credit and impairment provisions rose to P3.37bn from P2.61bn.

• Pre-provision operating profit was P19.4bn, up 3% YoY; EPS improved to P2.80 from P2.72.

Outlook and guidance

• Improving NIMs and fee income support topline growth; higher rates could provide further NIM upside.

• Medium-term goals include loan growth of 1.5x–2.0x real GDP, consumer loans at least 25% of portfolio, a higher CASA ratio and CIR below 50%.

• 2026 capital expenditures are estimated at P3.0–P5.0bn, with 70% allocated to IT.

• Strong balance sheet and liquidity are positioned to support loan-demand recovery as geopolitical and domestic political uncertainties ease.