Reported Q: Q3 2024 Rev YoY: +5.9% EPS YoY: +1.0% Move: -0.24%
MT Bank Corporation
MTB-PH
$25.06 -0.24%
Exchange NYSE Sector Financial Services Industry Banks Regional
Q3 2024
Published: Nov 5, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for MTB-PH

Reported

Report Date

Nov 5, 2024

Quarter Q3 2024

Revenue

3.39B

YoY: +5.9%

EPS

4.02

YoY: +1.0%

Market Move

-0.24%

Previous quarter: Q2 2024

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Earnings Highlights

  • Revenue of $3.39B up 5.9% year-over-year
  • EPS of $4.02 increased by 1% from previous year
  • Gross margin of 65.2%
  • Net income of 721.00M
  • "We restarted our share repurchase program in the third quarter and executed $200 million in share repurchases and grew our CET1 ratio to over 11.5%." - Daryl Bible
MTB-PH
Company MTB-PH

Executive Summary

MT Bank Corporation (MTB-PH) delivered a solid Q3 2024 showing resilient profitability, meaningful net interest income (NII) momentum, and continued capital strength. Reported revenue of $3.391 billion, net income of $721 million, and diluted EPS of $4.02 for the quarter, with a NII of approximately $1.74 billion and a net interest margin (NIM) of 3.62%. The company also showcased robust capital generation, lifting the CET1 ratio to 11.54% at quarter-end and resuming a $200 million share repurchase as part of capital return, underscoring a disciplined financial framework amid a dynamic rate and credit environment.

Management framed the quarter as a demonstration of a diversified, resilient, and capital-rich business model: growth in C&I and consumer lending offsetting CRE contractions, a deposit base anchored by core, rate-sensitive deposits, and a diversification of non-interest income (NII expansion supported by mortgage and trust-related activity). Asset quality continued to improve with lower non-accrual balances and a 35 bp quarterly decrease in net charge-offs, while the company maintains a prudent reserve position. Looking forward, management communicated expectations for fourth-quarter NII around the top end of prior guidance (at least $1.73 billion) and NIM in the low-3.60s, with about $600 million of expected fourth-quarter non-interest income and limited incremental expense pressures, albeit with ongoing project-related investment. The plan also contemplates CRE portfolio stabilization and targeted loan growth into 2025, supported by a constructive capital trajectory and ongoing share repurchases.

Key Performance Indicators

Revenue
Increasing
3.39B
QoQ: 0.53% | YoY: 5.94%
Gross Profit
Increasing
2.21B
65.23% margin
QoQ: 2.79% | YoY: 1.24%
Operating Income
Increasing
909.00M
QoQ: 6.32% | YoY: 0.22%
Net Income
Increasing
721.00M
QoQ: 10.08% | YoY: 4.49%
EPS
Increasing
4.04
QoQ: 7.73% | YoY: 1.00%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 3,171.00 3.32 -3.9% View
Q4 2024 3,341.00 3.86 +1.3% View
Q3 2024 3,391.00 4.02 +5.9% View
Q2 2024 3,373.00 3.73 +1.6% View
Q1 2024 3,300.00 3.02 +14.0% View