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June 24, 2024

Metrobank hailed anew as PH Best Domestic Bank by Asiamoney

Metropolitan Bank and Trust Company (Metrobank) was recognized once again as the country’s Best Domestic Bank for its strong financial performance and financial education efforts at the recently held 2023 Asiamoney Best Bank Awards.

This is the second time that Metrobank was bestowed this award by the international finance magazine, first was during the height of the pandemic in 2021. The publication said Metrobank’s exceptional performance versus competitors, its success in growing its market share, and its remarkable strategy to cope with difficult or changing market conditions, earned the Bank the title.

Amid the reopening of the economy in 2022, Metrobank was committed to enabling Filipinos – both individuals and businesses to take advantage of the gradual economic recovery. This fueled the Bank’s impressive performance across the board.

“The previous fiscal year posed many challenges for banks and other financial institutions as the world’s economies were not yet fully recovered from the pandemic. Despite this hurdle, Metrobank still posted an all-time high profit of PHP 32.8 billion in 2022, a significant 47.9% growth from its PHP22.2 billion income in 2021. The bank also saw gains across the board with rising loans, increased profit margins, substantial fee income levels, well-controlled operating expenses, lowered provisions, and stable asset quality,” said Asiamoney.

The publication also underscored Metrobank’s efforts to continuously support its clients not just with its best-in-class services, but with relevant information and advice on finance: “Metrobank is a mainstay of the Philippine economy and its financial education platforms are second to none.”

“This award by Asiamoney is very timely as we also celebrate Metrobank’s 61 st anniversary on September 5. It is a testament to the Bank’s strength and capability to navigate through challenging times and changing market conditions. More importantly, this shows the resilience exhibited by our employees because they are key to bringing the Bank to where it is today. Indeed, our goal is to fulfill our promise of keeping our clients in good hands,” said Metrobank President Fabian Dee.

“By empowering economic activity through our services, our hope is to contribute to the country’s financial and economic recovery,” added Dee.

As a trusted bank partner, Metrobank not only provided clients with relevant banking products and services, but also smarter financial decisions through a series of financial education initiatives.

The Bank’s flagship financial education efforts include:

  • Moneybility – a comprehensive and dynamic financial education platform developed to help Filipinos become financially resilient. It is a collection of money management topics, which includes budgeting, debt management, insurance,
    investing, and more.
  • Wealth Insights – an online portal that contains publicly-accessible market- moving news and insights, as well as exclusive premium content which deepdives into timely and actionable investment ideas.
  • Earnest app – offers bite-sized lesson cards and easy-to-understand articles that cover basic investing concepts, each presented in a straightforward and jargon-free way for users.

Metrobank also hosted over 500 financial education-related events with an audience of over 100,000 through Metrobank and First Metro Investments Corporation (FMIC) Group.

To empower budding businesses, Metrobank also conducted its SME Kapihan Series, composed of interactive forums that enable SMEs to explore the Bank’s financing options in support of their business goals.

About Metrobank

Metrobank is the country’s second largest private universal bank that empowers both retail and business clients with customized financial products and services fit to help reach their goals and full potential.

It has an extensive consolidated network that spans over 940 domestic branches nationwide, more than 2,300 ATMs, and above 30 foreign branches, subsidiaries, and representative offices.

The Bank believes that its robust capital position and balance sheet strength will provide ample support as it navigates through uncertain times.

As of end June 2023, its capital ratios are among the highest in the industry, with total CAR at 17.9% and Common Equity Tier 1 (CET1) ratio at 17.1%. Meanwhile, the Bank’s consolidated assets stood at P2.9 trillion, making it one of the strongest and well-capitalized banks in the country. (https://metrobank.com.ph/)