Metropolitan Bank jumps after Q4 profit beats expectations

Metropolitan Bank Holding

24/01/2025 17:53

** 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))