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Metropolitan Bank
and Trust Company -
New York
10 East 53rd Street,
New York, NY 10022
Telephone:
(212) 832-0855
(212) 832-0951
Facsimile:
(212) 832-0993
(212) 223-0916
Toll Free:
(800) 863-8762
(Outside NY, NJ & CT)
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Metrobank 44 – Leading You to Better Times
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Youngest leader at 33, Still No. 1 at 44
1995 was a milestone year for Metropolitan Bank & Trust Company (Metrobank). In that year, Metrobank overtook a large government-owned bank to become the country’s largest financial institution with assets totaling P175.5 billion.
Now, eleven years later and over twice as big in assets, Metrobank remains the Philippines’ largest with consolidated total assets of P588.1 billion as of end-June 2006.
“The road to becoming the country’s largest bank, and maintaining it for eleven years, demanded a lot of focus and discipline from the whole organization,” said Metrobank chairman Antonio S. Abacan, Jr., who served as president from 1993 to May 2006, and who, together with the leadership of founder George S. K. Ty, oversaw the bank’s growth to what it is now. “We had to adapt to the ever-changing and ever-growing market,” said Abacan.
In those eleven years, Metrobank expanded its network of online branches and offices here and abroad. The bank heightened deployment of its automated teller machines (ATMs) to provide better access to depositors nationwide, while increasing overseas remittance tie-ups abroad to service the growing overseas Filipino communities.
Products and services evolved as well to meet the needs of more sophisticated bank clients and to keep a step ahead of competition. The upturn of information and communication technology provided opportunities for the bank to introduce electronic banking services catering to corporate clients and the young, emerging market.
The bank’s tenure as the largest bank also saw a period of industry consolidation, with a few big banks aggressively acquiring smaller banks in a bid to take over the number one position. Metrobank took advantage of opportunities in the industry and itself made strategic acquisitions that fortified its leadership stature.
The biggest and best financial institution in the country
Now at the helm, Metrobank president Arthur Ty is determined to keep the bank in its leadership position. “The competition gets keener every day,” he said. “In today’s banking industry, it is no longer enough just to be the biggest; we have to be the best. It means being recognized as the industry leader by all of our stakeholders – our customers, our employees, our regulators, and our shareholders.”
To remain ahead of the race, Metrobank is reshaping its growth strategy, choosing to focus on its strengths particularly in deepening customer relationships, and targeted customer growth. “We have the support of more than 3 million customers who depend on us day after day for their banking needs. Very few institutions, financial or otherwise, can claim that they have partnered not only with most of the Top 1000 Corporations but also with various national and local government agencies, successfully maintaining these relationships through good times and bad. Clearly, Metrobank has the means to make things happen,” said Ty.
Expanding its corporate, middle and consumer market
In line with market expansion, Ty disclosed that the bank is improving its marketing and sales capabilities to take advantage of new business opportunities and build on its customer base. “We are implementing changes to become market-focused and market-driven,” Ty said.
“To better serve our medium to large corporate clients, we are making our cash management products more efficient for customers by using an online environment. We are repackaging our existing deposit products, and launching new ones to serve the needs of young, emerging, and the overseas Filipino worker markets,” explained Ty.
Also, the Bank has been participating in sizeable and important deals with top-tier companies to broaden its loan portfolio.
Since January of this year, the Group has successfully signed multi-billion peso deals to fund the expansion of some of the Philippines' largest corporations through various loan facilities.
Global presence
The strength of Metrobank’s franchise has long been associated with an expansive distribution network. At present, the bank has 557 local branches and 33 international branches and offices in Taiwan, Shanghai, Japan, Korea, Hong Kong, Singapore, Guam, United States, Bahamas, and Europe. Only recently, the Bank opened its first remittance office in Canada. Overall, its presence has grown to over 800 international and domestic branches, offices, subsidiaries, and affiliates.
Complementing its branches is a widely distributed network of over a thousand correspondent banks, numerous tie-ups and remittance partnerships worldwide. “We want to bolster the Metrobank brand overseas, and bring our products and services closer to Filipinos abroad,” said the bank’s president.
Superior reach
Aside from physical reach, the Bank is enhancing its electronic banking platform to allow customers greater and more convenient access to their accounts.
Metrobank continues to enhance its technology infrastructure to create a significant impact in supporting its customer growth strategy. To date, it has invested heavily on hardware and sophisticated security features for its electronic banking channels, namely: the Metrobank E.T. automated teller machines (ATMs), Metrophone Banking, Metrobank Mobile Banking, and Metrobankdirect Internet banking facility for corporate and individual clients.
The Bank’s ATM network has grown to over 700 onsite and offsite terminals nationwide, expanding offsite ATMs where clients are.
Its metrobankdirect Internet banking facility has been providing inroads into corporate clients, including SMEs largely due to convenience and online, real time accessibility. Today’s changing lifestyles and improved access to the Internet also account for the increase in e-banking usage.
A commitment to shareholder value
As it placed emphasis on market expansion, the Bank continues to focus on stronger people development, better risk management, and building long-term shareholder value.
“This year ushers in a new era for the bank with the transition in leadership, the bank can become more aggressive and capable of moving in different directions while still being guided by the wisdom and lessons learned from long experience,” Ty asserts.
“As we have in the past 44 years, we shall focus on building long-term value for our shareholders,” Ty concludes. “Listening to our market and executing our strategies correctly will translate into gains for our shareholders; strengthen our balance sheet, earning potential and franchise. Ultimately, the objective is to secure our position as the industry leader for more years to come.”
Indeed, with a franchise built on the trust and confidence of its stakeholders, Metrobank stands strong and ready to lead you to better times.
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