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Byline: Paolo G. Montecillo
METROPOLITAN BANK AND TRUST CO. posted a 31.7-percent increase in its first quarter profit on the back of higher lending activities boosted by improving economic conditions.
Metrobank, the countrys second largest bank in terms of assets at the end of 2009, reported a consolidated net income of P2.5 billion in the first three months of the year, up from P1.9 billion a year ago.
Metrobank ended the quarter with consolidated resources of P833.4 billion, or 9.1 percent higher year-on-year. This was driven mainly by the 8.6-percent growth in deposits to P602.1 billion.
In the meantime, net loans and receivables rose by 2.1 …