BIZ BUZZ: Strongest bank three-peat
The Ty family’s Metropolitan Bank & Trust Co. dominated other lenders as it bagged the coveted title of “strongest bank” in the region from The Asian Banker for the third straight year.
The country’s second-biggest lender achieved the rare feat following a review by the Chinese publication of the balance sheets of major banks across the Asia-Pacific region. Detailed metrics such as business scalability, risk profile, profitability, asset quality and liquidity were also assessed by The Asian Banker.
“Metrobank is privileged to have a team of committed Metrobankers who are dedicated to live up to the promise of keeping our clients’ trust, and delivering consistent and stronger results year after year for our shareholders,” Metrobank president Fabian Dee said in a statement.
“We are honored to accept this award and we maintain our strong commitment to serve as the financial institution that our valued clients and stakeholders can depend upon for their financial needs,” he added.
This is Metrobank’s latest recognition following other prestigious awards such as best domestic bank by Asiamoney and the Cesar E.A. Virata banking award for its ninth year.
Clients can thus rest easy knowing their money is in good and very strong hands indeed.
—Miguel R. Camus
Century Peak’s big ambitions
It may not be a very high profile firm, but Century Peak Cement Manufacturing Corp. —a subsidiary of publicly listed Century Peak Holdings Corp.—recently reached a milestone with its sales volume exceeding 1.5 million bags of cement for August of this year.
Because of this, Century Peak president and CEO Wilfredo Keng is now confident of further boosting the firm’s monthly volume to two million bags, especially with the additional investment in a tonner bag facility that is expected to be operational next month.
Keng said he was bullish over growth prospects as Century Peak just started its commercial operations this year.
Dedicated to providing durable and cost-efficient cement, Century Peak’s stated goal is to provide the market with the best cement at the lowest cost.
To do this, Century Peak wants to challenge the dominance of multinational cement producers by building a large nationwide distribution network for its products.
The company’s flagship product, Type 1 Prime cement, is a versatile and high-quality cement in demand for major projects, including those undertaken by SM Prime Holdings Inc. for its shopping malls and Priland Development Corp.’s residential projects, apart from other prominent developments whose cement needs were supplied by Century Peak.
Of course, the question now is this: How big can Keng grow his company given the long dominance of giants, both local and foreign, in the local cement industry? Watch this space, folks.