Metropolitan Bank & Trust Company (PSE: MBT) successfully raised PhP11.25 billion from its public offering of 2-year Peso bonds which was completed last 21 June 2019. This is the fourth issue out of Metrobank’s PhP100.0 billion Bond and Commercial Paper Program as approved by its Board of Directors last year.
To accommodate robust demand from institutional, high net worth and retail clients, Metrobank’s initial target of PhP5.0 billion was upsized to PhP11.25 billion. The bonds have a coupon of 5.50% and will have quarterly interest payments.
The 2-year Peso bonds were issued and listed on the Philippine Dealing Exchange today, 03 July 2019.
Metrobank has raised an aggregate amount of PhP56.75 billion Peso bonds since November 2018.
Metropolitan Bank & Trust Company (Metrobank) reported PhP6.8 billion in net income for the first quarter of 2019, representing a 15% growth from the PhP5.9 billion in the same period last year. The solid performance for the quarter was driven by its double-digit growth in operating income on the back of consistent loan growth and margin expansion, higher fee-based income, and improvements in operational efficiencies.
As of March 2019, Metrobank’s consolidated assets reached an all-time high of PhP2.3 trillion and equity of PhP289.0 billion. The Bank’s capital ratios were comfortably above regulatory requirements, with total capital adequacy ratio at 17.4% and Common Equity Tier 1 ratio at 15.0%.