BUZZ-Metropolitan Bank jumps after Q4 profit beats expectations

Reuters2025-01-25
BUZZ-Metropolitan Bank jumps after Q4 profit beats expectations

** Shares of community lender Metropolitan Bank MCB.N jump 10.2% to $67.21

** MCB late Thursday posted Q4 profit of $1.88/shr, topping Wall Street expectations of $1.42/shr — LSEG

** Q4 net interest income jumped 16.9% to $66.6 mln, beating estimates of $64.1 mln

** Piper Sandler says the results were surprisingly strong, adding that about every financial metric was better than it had expected

** Q4 net interest margin — a key measure of banking profitability — was 3.66%, an increase of 30 basis points from a year earlier

** Total loans grew 7.3% to $6 bln in Q4, primarily due to an increase in commercial real estate loans

** MCB stock rose 5.5% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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