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Native name | Chinese:首都銀行;Pe̍h-ōe-jī:Siú-to͘ Gûn-hâng |
|---|---|
| Company type | Public |
| PSE: MBT | |
| Industry | Finance and insurance |
| Founded | September 5, 1962; 62 years ago (1962-09-05) inBinondo,Manila, Philippines |
| Founder | George Ty |
| Headquarters | , |
Number of locations | 957branches[1] 2,345ATMs[1] |
Key people |
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| Products | Consumer banking Corporate banking Insurance Investment banking Mortgage loans Private banking Mutual fund Wealth management Credit card Finance lease |
| Revenue | ₱121.9 billion (2020[1]) |
| ₱13.83 billion (2020[1]) | |
| Total assets | ₱2.46 trillion (2020[1]) |
Number of employees | 13,150 (2019[1]) |
| Subsidiaries | First Metro Investment Corporation Metrobank Card PSBank Orix Metro Leasing and Finance Corporation Axa Philippines |
| Capital ratio | 17.5%[1] |
| Rating | Moody's: Baa2 Fitch Ratings: BBB- |
| Website | www |
TheMetropolitan Bank & Trust Company[a] (HokkienChinese:首都銀行;Pe̍h-ōe-jī:Siú-to͘ Gûn-hâng),trading asMetrobank, is a Filipinobank that as of 2022[update], was the third largest bank in thePhilippines in terms of total assets.[4][5] It offers various financial services, from regular banking toinsurance. It is thecommercial andretail banking arm ofGT Capital Holdings Inc.
The Metrobank Group has a combined network of over 800 local and internationalbranches/offices, remittance offices and subsidiaries worldwide. It has 557 domestic branches and 32 offices overseas including in New York, Hong Kong, Tokyo, Osaka, Seoul, Pusan, Guam, Taipei, Kaohsiung, Madrid, Barcelona, Vienna, Rome, Bologna, Milan, Singapore, Chicago, Hawaii, and Shanghai.
Metropolitan Bank & Trust Company (Metrobank) was established by a group of businessmen on September 5, 1962, at the Wellington Building inBinondo,Manila. In August 1963, the bank's first branch was established inDivisoria. Four years later, Metrobank opened its first provincial branch inDavao. In the early 1970s, Metrobank opened its first international branch inTaipei,Taiwan's capital city.
In April 1977, theCentral Bank of the Philippines authorized Metrobank to operate a foreign currency deposit unit (FCDU), either to exchange this (FCDU) for that Country Currency Gold Federal Reserves (Central Bank Gold Reserve) value in ratio with Philippine Gold Reserve or direct Currency Exchange with respect to the Gold Standards. In the same year, branches and offices totaled 100 and the bank inaugurated its new head office at Metrobank Plaza inMakati.
On August 21, 1981, the Central Bank authorized Metrobank to operate as auniversal bank. Following, Metrobank entered the following ventures: the acquisition of majority ownership ofPhilippine Savings Bank (the second largest savings bank in the country at that time); the establishment of a joint travel agency venture withThomas Cook Group in Thomas Cook Phils., Inc. in 1986; and establishingToyota Motor Philippines withToyota Motor Corporation of Japan andMitsui in 1988. Metrobank entered into joint ventures withSumitomo Mitsui Banking Corporation ofJapan to create Sumigin Metro Investment Corporation; with the National Mutual Holdings Ltd. ofAustralia to create PhilippineAxa Life Insurance Corporation; and with theORIX of Japan to create ORIX Metro Leasing and Finance Corporation.
In September 1982, the number of Metrobank branches, offices and subsidiaries surpassed 200. A year later, Metrobank topped all private domestic banks in total resources, with₱8.8 billion.
The bank had steady growth through the years. In September 1989, it increased its authorized capital stock from₱2 billion to₱5 billion. The bank's total capital funds on June 30, 2006 stood at P57.3 billion. Its consolidated resources amounted to₱588.1 billion as of the same period. As of June 2007 assets reached₱669.1 billion ($14.5 billion) (₱46=$1).
In 1990, alongsideChinabank,Citibank Philippines,RCBC andSecurity Bank, Metrobank become a founding member ofBancNet.
In May 2000, Metrobank acquired Solid Banking Corporation (Solidbank) from a joint consortium led by the Madrigal family and Canada-based Bank of Nova Scotia (Scotiabank), with Metrobank as the surviving entity. as a result, all Solidbank branches along with SolidbankMastercard will be merged with Metrobank, while some most of Solidbank's remaining assets also merged with Metrobank's subsidiary, First Metro Investment Corporation.[6][7]
Metrobank's created or acquired a number of subsidiaries including Toyota Motor Philippines Corporation, Philippine Savings Bank, First Metro Investment Corporation, Metrobank Card Corporation, ORIX Metro Leasing and Finance Corporation, SMBC Metro Investment Corporation, First Metro Travelex (formerly Thomas Cook (Phils.),Philippine Axa Life Insurance Corporation, Mirant Global Corporation, Philippine Charter Insurance Corporation, MBTC Technology, Inc., Robert Browns Wear Inc (Moose Gear & Moose Girl Apparel), Toyota Financial Services Corporation, Toyota Cubao, Inc., Toyota Manila Bay Corporation, First Metro Securities Corporation, First Metro International Investment Co. Ltd., Metropolitan Bank (Bahamas) Ltd., MB Remittance Center Inc. (USA), Metro Remittance Singapore, Metro Remittance UK Limited, Metro Remittance (Italia) SpA, Metro Remittance S.A. (Spain) and MBTC Exchange Services GmbH (Austria).
On September 17, 2008,Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. announcedBanco de Oro and Metrobank set aside provisions totalling $94.7 million to cover their exposure to theLehman Brothers' collapse. Metrobank set aside $14 million in provisional funds, and it has $20.4 million worth of bonds issued by Lehman Brothers and₱2.4 billion ($51.28 million) in loans to a Philippine-based subsidiary of the US investment bank.[8][9] The BSP data revealed Metrobank has a Lehman Brothers exposure of $71 million, and it set aside a buffer equivalent to 70% of its exposure.[10][11]
On September 28, 2009, Metrobank is the first local bank to offer a line ofCNY denominated offerings.[12]
In 2017, Metrobank made a deal withANZ to increase its stake at Metrobank Card Corp. (MCC) from 60 percent to 100 percent. Metrobank's joint venture with ANZ was formed in 2003. Since then, MCC has become a leading provider of credit cards in the Philippines, with more than 1.5 million cards based from the data of the Credit Card Association of the Philippines (CCAP). MCC reported total assets of₱60.4 billion and a return on average equity of 36.3 percent. MCC is also number one in terms of receivables based on CCAP data.[13] ANZ, on their part, announced that they would sell half of their 40% stake at MCC for US$144 million and had an option to sell the remaining 20% stake to Metrobank on the same terms, which would be exercisable in the fourth quarter of the 2018 fiscal year.[14]
In 2023, the bank announced that the Metrobank Plaza will be demolished and will be replaced by a modern skyscraper.[15]
Metrobank is divided into the following subsidiaries and affiliates, which are listed depending on their location of operation:
As of September 30, 2020, the following are the major stockholders:[16]
| No. | Company | Proportion in % |
|---|---|---|
| 1 | GT Capital Holdings, Inc. | 37.15 |
| 2 | PCD Nominee (non-Filipino) | 23.34 |
| 3 | PCD Nominee (Filipino) | 22.98 |
| Others | 16.54 | |
Metrobank's main competitors in theRetail banking business areSM-ledBDO Unibank andBank of the Philippine Islands (BPI) of theAyala group. Other major competitors include state-ownedLandbank, andLT Group-ledPNB.
Apart from Consumer banking, Metrobank is also well known inInvestment banking through its subsidiary, First Metro Investments Corporation, which competes with BDO Capital ofBDO Unibank, while inSecurities trading through subsidiary First Metro Securities which directly competes withBDO Securities (formerly BDONomura),BPI Wealth (formerly BPI Asset Management), and COL Financial.
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