Metropolitan Bank & Trust Co. (Metrobank) was recently named “Best Bank in the Philippines” at the recently concluded Euromoney Awards for Excellence 2022. The award helps solidify the bank’s strong position and reliability as the country’s second largest bank.
“Metrobank’s story was about more than prudence. The bank is out there supporting a reviving economy, recording a growth in its commercial lending business. It also took advantage of COVID-19 to push digital channels and launch a host of new services to address its customers’ needs,” said Euromoney.
The Euromoney Excellence Awards recognizes the best of the best financial institutions throughout the world. The awards were established in 1992 and were the first of their kind in the global banking industry. This year, Euromoney received a record number of submissions from banks in their regional and country awards programme which covers more than 50 regional awards and best bank awards in 100 countries.
For the Best Bank category, Euromoney scrutinizes the following key metrics: market capitalization; total revenues; pre-tax profit; net income; return on tangible common equity; return on assets; net interest margin; cost-to-income ratio; Basel III Tier-1 capital; market share of deposits; market share of loans; loan-to-deposit ratio; non-performing loan ratio; and non-performing loan coverage ratio.
“It is a great honor to have been named as Best Bank in the Philippines by Euromoney,” said Fabian Dee, President of Metrobank. “Euromoney is a highly regarded institution in the financial industry and this is very timely as we mark our 60th anniversary of serving Filipinos this September.”
“This award is a testament to the hard work of Metrobankers to maintain the bank’s status as a strong, reliable, and stable partner for all our stakeholders. At Metrobank, we remain committed in serving our customers as their trusted financial partner,” he added.
Metrobank has also received praise recently from other award-giving bodies like Asiamoney (as the “Best Domestic Bank”), The Asian Banker (the “Strongest Bank”), and LinkedIn (as “Top Banking Employer in the Philippines”).