Metrobank gets award for strong 2022 balance sheet

Metropolitan Bank & Trust Co., the second-largest lender in terms of assets, remains strong despite the global headwinds such as the rising interest rates and inflation, its top executive said Monday.

The financial publication The Asian Banker named Metrobank “The Strongest Bank in the Philippines” for the second consecutive year.

The Asian Banker said Metrobank continued to outperform its peers in the country in terms of capitalization and liquidity. Its Tier 1 capital ratio, total capital adequacy ratio and liquid assets to total deposits and borrowings ratio remained high.

“Moreover, the bank grew its low-cost CASA deposits, reflecting its solid deposit franchise. Meanwhile, with its prudent management of credit risk, the bank demonstrated stronger asset quality than its peer banks in the country,” Asian Banker said in its citation for choosing Metrobank as the Philippines’ strongest bank by balance sheet for 2022.

Metrobank president Fabian Dee attributed the award to the bank’s 14,000 strong Metrobankers.

“Since our beginnings 60 years ago, the goal has always been to live up to our promise, to keep our clients in good hands, while delivering consistent results for our shareholders. We could not have done this without the support of our employees. We therefore dedicate this award to them,” he said.

The award is given to financial institutions that have exhibited strength based on their financial performance, which covers their ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity, according to Asian Banker.

Dee said the strong commitment of Metrobank employees resulted in a strong performance in the last two years.

“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,” Dee said.

Metrobank remained the country’s second-largest private universal bank as of end-September 2022. Capital ratios were 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 hit P2.7 trillion, making it one of the strongest and well-capitalized banks in the country.

Apart from the back-to-back award from The Asian Banker, Metrobank also received multiple accolades from different global experts such as “The Best Bank in the Philippines” by Euromoney, “Best Corporate Bank” and “Best Domestic Private Bank” by Asiamoney, “Most Helpful Bank During Covid-19 in the Philippines” by The Asian Banker and the highest ranked bank to “Grow Your Career in the Philippines” by LinkedIn.