INQUIRER FILE PHOTO
Metropolitan Bank & Trust Co. (Metrobank) was recognized as the country’s “strongest bank” by financial service company The Asian Banker for the second consecutive year.
The Asian Banker, which looks at banks’ financial performance, named Metrobank the “The Strongest Bank in the Philippines” for outperforming its competitors in capitalization and liquidity.
As of end-September, the bank has a total equity of P308.9 billion while its capital adequacy ratio and common equity tier one ratio stood at 17.2 percent and 16.3 percent, respectively, which were both above minimum regulatory requirements.
“Moreover, the bank grew its low-cost CASA (current account/savings account) deposits, reflecting its solid deposit franchise,” the award-giving body noted.
The listed bank’s total deposit grew by 11 percent to P2 trillion for the nine-month period ending September, with Casa deposits accounting for P1.5 trillion of the total.
‘Timely recognition’
Metrobank president Fabian Dee credited the victory to its employees who have showed “solid commitment” to deliver “strong performance.”
“That is why we are very thankful to receive this timely recognition by The Asian Banker for our efforts to remain strong and to continue to be a reliable partner for all our stakeholders. We are now even better capable of withstanding growing global concerns on inflation, rising rates and the possibility of recession,” he added.
The listed bank was also recognized as the “The Best Bank in the Philippines” by Euromoney and “Best Corporate Bank” and “Best Domestic Private Bank” by Asiamoney, among others.
Metrobank saw its nine-month net income grow by 45 percent to P23.4 billion, supported by better margins, lower credit provision and stable operating costs.