First Metro Investment Net Income Increases 28% in 2011

Mar 07, 2012 12:00 JST

Source: First Metro Investment Corporation

MANILA, Mar 07, 2012 - (ACN Newswire) - First Metro Investment Corporation ended the year with a consolidated net income of P2.2 billion amidst volatile market condition in 2011. This is 28.8% higher than the P1.7 billion net income of the previous year. Year on year return on equity stood at 20.56%.

The Treasury Group alone made a solid P1.2 billion income, 34.0% higher than last year. Net interest income from Treasury portfolio is P434.0 million, driven by higher level of securities portfolio. Gains from government securities trading is P615.0 million while fee income from securities distribution is P116.0 million.

The Investment Banking Group made a total fee income of P275.0 million that is P4.0 million or 2.0% better than previous year's fees. The bulk of this revenue was generated through various significant deals that included Beacon Electric Assets Holdings Inc.'s P11.0 billion Corporate Notes, Puregold Price Club, Inc.'s P8.6 billion Initial Public Offering, Manila Water Company, Inc.'s P10.0 billion Corporate Notes, Metropolitan Bank & Trust Company's P10.0 billion Stock Rights Offering, among others.

First Metro president Roberto Juanchito Dispo explains, "We have once again demonstrated our dominance in the domestic debt capital market in 2011. With our in-depth understanding of the Philippine capital markets and extensive distribution capabilities, we have successfully participated in 83.4% of the total peso-denominated domestic capital market issuances amounting to P771.2 billion. This includes the P687.5 billion volume of fund raising activities for the Republic of the Philippines."

The Strategic Finance Division earned a net interest income of P159.0 million in 2011 while the Investment Advisory Group made a total net income of P38.0 million in trading gains and dividends from investment in stocks.

First Metro's assets at the end of the year is P79.0 billion, 23.1% more than the year-end balance in 2010 of P64.0 billion. Capital funds reached P11.4 billion, 14.8% higher than the 2010 year-end level.

"We expect another good year in 2012 as many converging positive factors are imminent - GDP is expected to grow by 6%, OFW remittance to increase by 7%, inflation will recede to 3 from 3.5%, exports to recover from -4.3% to 5.7%, interest rates to further compress by 50 bps from belly to long end, while short term rates will correct and the PSEi will reach above 5,000 level," Dispo added.

Contact:

Anna Marie Tuprio
Corporate Planning & Affairs Department 
Tel: +63-2-858-7951       
E-mail: marie.tuprio@firstmetro.com.ph

Source: First Metro Investment Corporation
Sectors: Daily Finance

Latest Release

Fujitsu highlights technologies to realize its vision of AI as a trusted assistant at CEATEC 2024
Oct 04, 2024 11:03 JST

Toyota to Invest $500 Million in Joby Aviation
Oct 03, 2024 15:59 JST

Fujitsu and Supermicro announce strategic collaboration to develop green AI computing technology and liquid-cooled datacenter solutions
Oct 03, 2024 09:38 JST

Eisai Commences Business Activities At New Pharma Sales Subsidiary In Saudi Arabia
Oct 02, 2024 11:28 JST

IOWN All-Photonics Network with Optical Fiber Sensing Functions Achieves Wide-Area Traffic Flow Monitoring
Oct 01, 2024 17:44 JST

Release of Mazda Integrated Report 2024
Oct 01, 2024 10:56 JST

DENSO and ROHM Agree to Start Consideration of Strategic Partnership in the Semiconductor Field
Oct 01, 2024 09:27 JST

Olympus Launches VISERA S, a New Imaging Platform
Sep 30, 2024 15:00 JST

Fujitsu launches "Takane" - A large language model for enterprises offering the highest Japanese language proficiency in the world
Sep 30, 2024 14:05 JST

DENSO Announces Changes of Executive Responsibility and Executive Officers
Sep 30, 2024 13:22 JST

Mitsubishi Corporation: JOGMEC Commissioned Feasibility Study for Overseas CCS Value Chain
Sep 30, 2024 11:38 JST

Mazda Production and Sales Results for August 2024
Sep 27, 2024 17:20 JST

Honda Issues Integrated Report - "Honda Report 2024"
Sep 27, 2024 15:37 JST

Hitachi Becomes First Oracle Partner in Japan to Win Regional Best in Class Award in the Customer Success Category in the 2024 Oracle Partner Awards
Sep 27, 2024 14:19 JST

Mitsubishi Corporation Strengthens the Partnership with PETRONAS, Reinforcing Confidence in LNG Operations in the Region
Sep 27, 2024 13:39 JST

MHI Completes Production of the Core Stage of the Final H-IIA Launch Vehicle (No. 50)
Sep 26, 2024 12:00 JST

A2Z and Nayax Capital Sign Framework Agreements to Enable Global Financing for the Sale or Lease of Cust2Mate Smart Carts Integrated with Nayax's Solutions
Sep 25, 2024 22:00 JST

Osaka Gas and MHI to Implement the CO2NNEX Digital Platform for Managing and Transferring the Environmental Value of e-Methane at Expo 2025 Osaka, Kansai, Japan
Sep 25, 2024 15:11 JST

Hitachi Rail Unveils the 'HMAX' AI Solution, Accelerated by NVIDIA, to Optimize Trains, Signaling and Infrastructure
Sep 25, 2024 13:05 JST

Overview of Honda Exhibits at JAPAN MOBILITY SHOW BIZWEEK 2024
Sep 24, 2024 18:32 JST

More Latest Release >>

Latest Release

Related Release