Metropolitan Bank and Trust Co. (Metrobank) has once again been hailed as the country’s top domestic bank, duplicating its feat in 2021 when it was conferred the same honors at the height of the pandemic.
The award was given to Metrobank for its impressive financial performance and commitment to financial literacy at the recently concluded 2023 Asiamoney Best Bank Awards.
According to the International Finance magazine, Metrobank won due to its outstanding performance in comparison to its rivals, its success in increasing market share, and its outstanding approach when dealing with challenging or shifting market conditions.
Metrobank has dedicated itself to assisting Filipinos — both individuals and businesses — so they may benefit from the country’s recovery once the economy is reopened in 2022. This contributed to the bank’s remarkable overall performance.
As the world’s economies were still recovering from the epidemic, banks and other financial institutions faced severe difficulties in the preceding fiscal year.
In spite of this obstacle, Metrobank still managed to make a record-breaking P32.8 billion profit in 2022, a considerable jump of 47.9% from the P22.2 billion income it recorded in the previous year.
With expanding loans, higher profit margins, significant levels of fee income, tightly regulated operational expenses, decreased provisions, and stable asset quality, the bank was also able to secure benefits across the board.
In conferring the top domestic bank award to Metrobank, Asiamoney also emphasized the bank’s efforts to consistently provide its clients with appropriate financial information and guidance in addition to its best-in-class services.
“Metrobank is a mainstay of the Philippine economy and its financial education platforms are second to none,” the awards-giving body stated in a press statement.
“The 61st anniversary of Metrobank was last September 5. Therefore, this Asiamoney award is very timely and appropriate,” said Fabian Dee, President of Metrobank. “It is evidence of the bank’s resilience and capacity to deal with difficult situations and shifting market conditions. More importantly, it demonstrates the tenacity of our staff, who have been instrumental in bringing the bank to where it is now.”
“Indeed, keeping our consumers in good hands will continue to be our priority. Our hope is to contribute to the financial and economic recovery of our country by empowering economic activity through our services,” he added.