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METROPOLITAN BANK & TRUST COMPANY

Metropolitan Plaza, Sen. Gil J. Puyat Avenue, 1200 Makati City, Philippines; Tel. no. (632) 898-8000 / 857-0000; Fax (632) 817-6248; www.metrobank.com.ph

8 August 2014


MS. JANET A. ENCARNACION
Head, Disclosure Department
PHILIPPINE STOCK EXCHANGE, INC.
3/F Philippine Stock Exchange Plaza,
Ayala Triangle, Ayala Avenue,
Makati City


Dear Ms. Encarnacion:


We enclose a copy of our press release entitled Metrobank first half income hits P9.1 billion.

Thank you.



Very truly yours,



Juan Placido T. Mapa III
Head, Investor Relations








METROPOLITAN BANK & TRUST COMPANY

Metropolitan Plaza, Sen. Gil J. Puyat Avenue, 1200 Makati City, Philippines; Tel. no. (632) 898-8000 / 857-0000; Fax (632) 817-6248; www.metrobank.com.ph

8 August 2014

Metrobank first half income hits P9.1 billion


Metropolitan Bank & Trust Company (Metrobank) reported unaudited consolidated net
income of P9.1 billion for the first six months of 2014. The performance for the period
was marked by double-digit growth in loans and deposits, steady margins, and better
cost management.

Total operating income for the first half this year reached P36.0 billion, with 62% or
P22.4 billion from the interest spread business. Net interest income was up 29% year-
on-year supported by strong volume take up. Consolidated deposits increased 23%
year-on-year to reach P1.1 trillion, while loan growth was sustained at 19% to close the
period at P647.5 billion. Lending activities were driven by the strong demand from the
commercial segment, which continues to benefit from the robust economy and
investment climate. As a result, net interest margin was maintained at 3.9%, the same
level as the first quarter.

Non-interest income, on the other hand, was reported at P13.6 billion. This came from
P4.4 billion in fee-based income, trading and forex gains of P1.1 billion, and
miscellaneous income of P8.1 billion which included a property sale and divestments of
non-core assets booked in the first quarter.

Headline operating expenses for the period was reported at P19.8 billion. On a
recurring basis, this represents a slower-than-expected growth of 6% compared to the
same period last year. Meanwhile, provisions for credit and impairment losses was
lower by 30% year-on-year at P1.9 billion.

Asset quality remains well under control as non-performing loans (NPL) ratio further
improved to 1.3% from 1.8% as of the same period last year. NPL coverage increased
to 159.8% from 125.3% previously.




METROPOLITAN BANK & TRUST COMPANY

Metropolitan Plaza, Sen. Gil J. Puyat Avenue, 1200 Makati City, Philippines; Tel. no. (632) 898-8000 / 857-0000; Fax (632) 817-6248; www.metrobank.com.ph

In its effort to continuously improve coverage and make banking convenient for clients,
Metrobank opened 16 branches and 52 ATMs this year to bring its consolidated total to
872 and 1,988, respectively. Metrobanks branch network remains the largest in the
domestic banking industry.

Metrobank ended the first half with consolidated assets reaching P1.4 trillion, and total
equity at P138.9 billion. Basel III capital adequacy ratio (CAR) remained well above the
regulatory limit at 15.4% with core equity tier 1 (CET1) at 12.1%.


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Metrobank is the countrys premier universal bank and has the largest domestic network of 872 branches
and over 1,900 automated teller machines (ATMs) nationwide, and 33 foreign branches, subsidiaries and
representative offices. For inquiries, please contact the Investor Relations Department at 857-9783 and
investor.relations@metrobank.com.ph. Or call the Metrobank 24/7 Customer Hotline at 8700-700, or log
on to www.metrobank.com.ph. For provincial areas, call toll-free 1-800-1888-5775.