The Metropolitan Bank & Trust Co. (Metrobank), the second largest bank in the Philippines, celebrates its 60th anniversary this year with a promise of further enriching the lives of its customers and helping boost the country’s economy by leveraging its full suite of financial products and services.
These products and services include the bank’s retail, corporate, treasury, and investment banking, as well as leasing and bancassurance activities.
“For the past six decades, our customers have always been at the front and center of everything we do,” said Fabian S. Dee, president of Metrobank. “As we mark our 60th year, we will continue to evolve with our customers and strive to deliver more convenient and relevant banking products and services to meet their needs, which in turn helps fuel our country’s economic growth.”
Through the years, Metrobank has been able to generate stable and diversified revenue streams. It has continued to develop innovative financial solutions that cater to different customers, building not just effective offline solutions but also online channels to strike a perfect balance between human experience and digital innovation.
Showing strong performance even amid the pandemic
Metrobank was established by a group of businessmen on September 5, 1962, at the Wellington Building in Binondo, Manila.
The bank’s first branch was established in Divisoria in August 1963. Four years later, Metrobank opened its first provincial branch, the Davao branch. In the early 1970s, Metrobank opened its first international branch in Taipei, the capital city of Taiwan.
Since then, the bank has proven its strength and stability.
Just recently, it reported a P15.6 billion profit or a 33 percent rise in net income for the first six months of this year. Its strong earnings performance shows that even amid the ongoing pandemic, Metrobank’s loan portfolio continues to expand, yielding improved interest margins. Its fee income growth also remains robust while its operating costs remained the same.
Metrobank’s consolidated assets and total equity has since reached PHP 2.7 trillion and PHP 303.4 billion, respectively, while its balance sheet remains one of the strongest in the industry. Its capital adequacy ratio stands at 17.6% while its common equity Tier 1 is at 16.8% — both of which are above the BSP’s minimum requirements.
As of this writing, Metrobank now has more than 940 consolidated branches nationwide, 30 of which are foreign branches. In addition to the bank’s more than 2,300 combined automated teller machines, it has also been offering online banking platforms for its customers, allowing them to conduct their financial transactions anytime, anywhere.
Empowering the Filipino community through financial education
Since day one, Metrobank has committed to empowering the larger Filipino community with the kind of knowledge that can help boost their confidence and enable them to make smart financial decisions.
In line with its promise of always putting its stakeholders in “good hands,” Metrobank has since launched free and accessible financial education content and platforms to teach the public about personal finance, investing, and other finance principles.
“Our customers are people and not just account numbers. We want to be the bank that educates and helps them to live life to the fullest by equipping them with financial education so they can make smart financial decisions and achieve their goals,” explains Dee.
Most recently, Metrobank introduced Wealth Insights— a website where high net worth individuals can get timely market news, valuable insights, and expert advice to make meaningful investment decisions.
The bank also launched Earnest, a type of financial education and investing platform for starting investors. “Tara Invest” is another initiative of the bank. It is composed of a video series that’s intended for first-time investors.
On personal finance, Metrobank has also launched MoneyBasics, a collection of simple and creative articles and social media posts to help people build their savings habits.
Meanwhile, to educate Filipinos about the dangers of financial fraud and how to prevent it, Metrobank also teamed up with Philippine Savings Bank and other local banks to roll out its “Scam Proof campaign,” a series of online content focused on fraud prevention.
Enriching the lives of its stakeholders, paying it forward
“Our goal has always been to enrich the lives of our stakeholders. We continuously evolve and innovate to retain our status as a strong and reliable bank for them. Even before the (COVID-19) pandemic, we have adopted innovations in the digital space to address the shift in consumer behavior while cementing our relationship with those who still prefer in-person transactions,” he added.
Metrobank regularly rechannels its successes through the Metrobank Foundation, one of the biggest non-profit organizations in the Philippines whose aim is to sustain and develop education and the arts. It has been funneling grants and in-kind donations towards programs that support outstanding Filipinos, education, and disaster response, as well as rebuilding livelihoods, among others.
Its flagship programs include the Metrobank Foundation Outstanding Filipinos; Metrobank Art & Design Excellence; Metrobank Scholarship Program; Metrobank MTAP-DepEd Math Challenge; the George S.K. Ty Grants Turnover and Disaster Response; the National Teachers’ Month celebration; and the Metrobank Foundation Professorial Chair Lectures.
“We are not all about the numbers. Our Founder, Dr. George S.K. Ty, has instilled among Metrobankers that we have the responsibility to do good and pay it forward to society. That is why we have always ensured that we are able to give back to different communities through the Foundation,” said Dee.
In its 60th year, leading global financial publications abroad have recognized Metrobank’s strength and initiatives for customers, businesses, and communities. It was named the Philippines’ Best Bank by Euromoney; the Strongest Bank by the Asian Banker; the Best Domestic Bank and Best Domestic Private Bank by AsiaMoney; and the Top Banking Employer in the country by LinkedIn.
“I am proud that Metrobank has come this far. Today, after 60 years, it remains strong as ever and I am excited to see what more we can do to better serve Filipinos and ensure that they are in good hands for the next 60 years and beyond,” Dee ends with a smile.