The Metropolitan Bank and Trust Company (), commonly known as Metrobank, is the fourth largest bank in the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. It offers various financial services, from regular banking to

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

. It is the

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

and retail banking arm of GT Capital Holdings Inc.

History

Metropolitan Bank and Trust Company (Metrobank) was established by a group of businessmen on September 5, 1962, at the Wellington Building in

Binondo Binondo () is a district in Manila and is referred to as the city's Chinatown. Its influence extends beyond to the places of Quiapo, Santa Cruz, San Nicolas and Tondo. It is the oldest Chinatown in the world, established in 1594 by the ...

Manila Manila ( , ; fil, Maynila, ), officially the City of Manila ( fil, Lungsod ng Maynila, ), is the capital of the Philippines, and its second-most populous city. It is highly urbanized and, as of 2019, was the world's most densely populate ...

. In August 1963, the bank's first branch was established in

Divisoria Divisoria is a commercial center in between Tondo and Binondo in Manila, Philippines known for its shops that sell low-priced goods and its diverse manufacturing activities. Tutuban Center is situated within the commercial hub along with a night ...

. Four years later, Metrobank opened its first provincial branch, the Davao branch. At the onset of the 1970s, Metrobank opened its first international branch in

Taipei Taipei (), officially Taipei City, is the capital and a special municipality of the Republic of China (Taiwan). Located in Northern Taiwan, Taipei City is an enclave of the municipality of New Taipei City that sits about southwest of the n ...

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...

's capital city. In April 1997, the Central Bank authorized Metrobank to operate a foreign currency deposit unit (FCDU). In the same year, branches and offices totaled 100 and the bank inaugurated its new head office at Metrobank Plaza in

Makati Makati ( ), officially the City of Makati ( fil, Lungsod ng Makati), is a 1st class highly urbanized city in the National Capital Region of the Philippines. Makati is the financial center of the Philippines; it has the highest concentration ...

. On August 21, 1981, the Central Bank authorized Metrobank to operate as a universal bank. Following the grant of the universal banking license, Metrobank entered the following ventures: the acquisition of majority ownership of

Philippine Savings Bank The Philippine Savings Bank () (shortened as PSBank or abbreviated as PSB) is a savings bank based in the Philippines. It is a subsidiary of Metrobank and is the 2nd-largest savings bank in the Philippines after BPI Family Savings Bank. Subsid ...

(the second largest savings bank in the country at that time); the establishment of a joint travel agency venture with

Thomas Cook Group Thomas Cook Group plc was a global travel group, headquartered in the United Kingdom and listed on the London Stock Exchange from its formation on 19 June 2007 by the merger of Thomas Cook AG — successor to Thomas Cook & Son — an ...

in Thomas Cook Phils., Inc. in 1986; and the tying-up with

Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

of Japan and

Mitsui is one of the largest '' keiretsu'' in Japan and one of the largest corporate groups in the world. The major companies of the group include Mitsui & Co. ( general trading company), Sumitomo Mitsui Banking Corporation, Nippon Paper Industri ...

to put up

Toyota Motor Philippines Toyota Motor Philippines Corporation (TMP) is a subsidiary of Toyota, based in Santa Rosa, Laguna, Philippines, responsible for the assembly and distribution of Toyota vehicles in the Philippines since 1988. The company was established on Augus ...

in 1988. Metrobank subsequently entered into joint ventures with several renowned corporations like

Sumitomo Mitsui Banking Corporation is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and ser ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

to create Sumigin Metro Investment Corporation; the National Mutual Holdings Ltd. of

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

to create Philippine

Axa Axa S.A. (styled as ''AXA'' or GIG in the Middle East) is a French multinational insurance company. The head office is in the 8th arrondissement of Paris, France. It also provides investment management and other financial services. The Ax ...

Life Insurance Corporation; and the

ORIX , styled as ORIX, is a Japanese diversified financial services group headquartered in Minato, Tokyo, and Osaka, Japan. ORIX offers leasing, lending, rentals, life insurance, real estate financing and development, venture capital, investment an ...

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 . The bank continued to experience steady growth through the years. In September 1989, it increased its authorized capital stock from to . The bank's total capital funds on June 30, 2006 stood at P57.3 billion. Its consolidated resources amounted to as of the same period. As of June 2007 assets reached ($14.5 billion) (=$1). In 1990, alongside

Chinabank China Banking Corporation (; ), commonly known as China Bank, is a Filipino bank established in 1920. It was the first privately owned local commercial bank in the Philippines initially catering to the banking needs of Chinese Filipino businesspe ...

Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...

, RCBC and

Security Bank Security Bank Corporation (SBC) is a universal bank in the Philippines. It was established on June 18, 1951, as Security Bank and Trust Company and was the first private and Filipino-controlled bank of the post-World War II period. Security B ...

, Metrobank become a founding member of

BancNet BancNet (also spelled Bancnet) is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the country's single interbank network in the Philippines in terms of the number of member banks and annual tr ...

. Metrobank's subsidiaries are 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). The Metrobank Group has a combined network of over 800 local and international branches/offices, remittance offices and subsidiaries worldwide. It has 557 domestic branches and 32 offices in New York, Hong Kong, Tokyo, Osaka, Seoul, Pusan, Guam, Taipei, Kaohsiung, Madrid, Barcelona, Vienna, Rome, Bologna, Milan, Singapore, Chicago, Hawaii, and Shanghai. Malolos and Pulilan Bulacan 30

On September 17, 2008,

Bangko Sentral ng Pilipinas The Bangko Sentral ng Pilipinas (; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act ...

Governor Amando M. Tetangco Jr. announced Banco de Oro and Metrobank set aside provisions totalling $94.7 million to cover their exposure to the

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...

' collapse. Metrobank set aside $14 million in provisional funds, and it has $20.4 million worth of bonds issued by Lehman Brothers and ($51.28 million) in loans to a Philippine-based subsidiary of the US investment bank. 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. On September 28, 2009, Metrobank is the first local bank to offer a line of CNY denominated offerings. In 2017, Metrobank made a deal with

ANZ ANZ may refer to: People * Anz (musician), a British DJ and electronic musician Banks * ANZ (bank), Australia and New Zealand Banking Group Limited, the fourth-largest bank in Australia ** ANZ Bank New Zealand, the largest bank in New Zealand ** ...

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 and a return on average equity of 36.3 percent. MCC is also number one in terms of receivables based on CCAP data. 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.

Subsidiaries and affiliates

Metrobank is divided into the following subsidiaries and affiliates, which are listed depending on their location of operation:

Domestic subsidiaries and affiliates

*First Metro Investment Corporation *First Metro Securities Brokerage Corporation *First Metro

Travelex Travelex is a foreign exchange company founded by Lloyd Dorfman and headquartered in Peterborough. Its main businesses are foreign currency exchange, issuing prepaid credit cards for use by travellers, supplying central banks with foreign curre ...

Manila Doctors Hospital Manila Doctors Hospital (MDH), simply referred to as MaDocs, is a tertiary hospital located in Ermita, Manila, Philippines with over 500 beds. It was founded in the City of Manila in 1956 by the group of doctors. The hospital is currently owned ...

* Manila Tytana Colleges (formerly Manila Doctors College) *Metrobank Card Corporation (formerly Unibancard Corporation) *Orix Metro Leasing and Finance Corporation *Philippine

Life Insurance Corporation *Charter Ping An Insurance Corporation *

* SMBC Metro Investment Corporation *Toyota Cubao Inc. *Toyota Financial Services Philippines Corporation *Toyota Manila Bay Corporation *Toyota Motor Philippines Corporation *Moose Gear and Moose Girl

International subsidiaries and affiliates

*First Metro International Investment Corporation Ltd. HK *MBTC Exchange Service GmbH - Vienna *MB Remittance Center HK *Metro Remittance Center SA - Spain *Metro Remittance (Italia) SpA *Metro Remittance Singapore Pte Ltd *Metro Remittance (UK) Limited

Ownership structure

As of September 30, 2020, the following are the major stockholders:

Competition

Metrobank, as was once the second largest Philippine bank, is always trying to stave off competition to remain one of the country's largest banks. Its main competitors are Sy-led Banco de Oro and

Bank of the Philippine Islands Bank of the Philippine Islands ( fil, Bangko ng Kapuluang Pilipinas, es, Banco de las Islas Filipinas, commonly known as BPI; ) is a universal bank in the Philippines. It is the first bank in both the Philippines and Southeast Asia. It is t ...

(BPI) of the

Ayala Ayala may refer to: Places * Ciudad Ayala, Morelos, Mexico * Ayala Alabang, a barangay in Muntinlupa, Philippines * Ayala Avenue, a major thoroughfare in the Makati Central Business District, Philippines * Ayala, Magalang, a barrio in Magalang ...

group. Other major competitors include state-owned

Landbank Land Bank of the Philippines (LBP; often referred to simply as LandBank), is a Government-owned and controlled corporation, government-owned bank in the Philippines with a special focus on serving the needs of farmers and fisherman, fishermen. ...

and UCPB,

Lucio Tan Lucio Chua Tan Sr. (; born July 17, 1934) is a Filipino business magnate, investor, and philanthropist. He presides over the Filipino conglomerate company LT Group, Inc., a company with extensive business interests in sports, banking, airline ...

-owned

Philippine National Bank The Philippine National Bank (PNB, Filipino/ tl, Bangko Nasyonal ng Pilipinas, lit=; es, Banco Nacional Filipino; Hokkien ) is one of the largest banks in the Philippines. It was established by the Philippine government on July 22, 1916, duri ...

, Gotianun-led EastWest,

of the Dy family,

(partly owned by the Sy and Dee families) and the

Rizal Commercial Banking Corporation The Rizal Commercial Banking Corporation (RCBC) () is one of the largest universal banks in the Philippines with total consolidated resources of Php 959 billion. It was established in 1960 as a development bank and is licensed by the Bangko ...

(RCBC) of the Yuchengco family.

References

External links

Metrobank

Reuters, Stock Quote

Reuters, Metropolitan Bank & Trust Co (Philippine Stock Exchange), Analyst Research

Reuters Full Description

Top 10 Commercial Banks in the Philippines, as of December 31, 2008
{{Authority control Banks of the Philippines Companies listed on the Philippine Stock Exchange Companies based in Makati