Philippines' best corporate bank 2022: Metrobank
As a universal bank that has been around for five decades, Metrobank has a solid reputation in the Philippine banking industry.
It was no different in the past year, despite economic difficulties due to the pandemic.
Against this backdrop, Metrobank had one of its best years on record. Net income rose 60% in 2021 to P22.2 billion ($400 million), beating peers. The firm strengthened its asset quality and capital base, while remaining among the nation’s most impressive digital players.
It is Metrobank’s keen focus on serving corporate clients that wins it this Asiamoney award. Even as the economy cratered, the team, led by president Fabian Dee, boosted lending at a healthy clip – to both corporate and middle-market clients.
In the last three months of 2021, the credit card business also showed a strong recovery, with credit card receivables up 5%, while commercial lending increased 6%, quarter on quarter.
Dee says the key highlights were firm and creative investments in modernizing telecommunication networks, expanding into financing the development of residential and office townships, manufacturing consumer products and the success of conglomerates across economic sectors.
Metrobank managed a healthy rise in market share for low-cost current accounts and savings accounts.