Metrobank cited as 2022’s best
Metrobank has come out on top and secured the Bank of the Year award for the Philippines thanks to the bank’s development of innovative services
Daily TribuneMetrobank has come out on top and secured the Bank of the Year award for the Philippines thanks to the bank’s development of innovative services
Photo courtesy of Metrobank Facebook
Universal bank Metropolitan Bank and Trust Co. secured its third big award for the year after The Banker named the "Bank of the Year in the Philippines" for 2022.
"Metrobank has come out on top and secured the Bank of the Year award for the Philippines thanks to the bank's development of innovative services that respond to the specific needs of its customers," the Banker said.
The UK-based publication noted the bank's services and products that allowed clients to conveniently and securely conduct their financial transactions through its platforms.
Specifically, The Banker highlighted Metrobank's understanding of the unique needs of customers and businesses of all sizes in the country, which propelled the bank to offer new and upgraded services, forge partnerships for growth, as well as provide community support through the programs of its corporate social responsibility arm, the Metrobank Foundation.
Metrobank president Fabian Dee said he is honored to receive the award. "Metrobank has been in the industry for six decades and throughout our journey, we have always ensured that we can thrive in different market conditions. We are thankful for The Banker's recognition. It is most timely, given the challenging economic prospects that the world faces today."
Series of awards
Metrobank also recently received accolades from different international award-giving bodies. It was named the Best Bank in the Philippines at the 2022 Euromoney Awards for Excellence and it received the Strongest Bank title from the Asian Banker.
As of September 2022, Metrobank saw its net income rise by 45 percent year-on-year to P23.4 billion.
It was a growth spurred by the continued expansion of the bank's lending portfolio, better margins, healthy fee income, stable operating costs, and lower provisions. Metrobank believes that its robust capital position and balance sheet strength will provide ample support as it navigates through these uncertain times.
Its capital ratios are among the highest in the industry, with total CAR at 17.2 percent and Common Equity Tier 1 ratio at 16.3 percent. Consolidated assets stood at P2.7 trillion, making it one of the strongest and most well-capitalized banks in the country.
