Metropolitan Bank & Trust Co. (Metrobank) bagged the ‘Best Bank in the Philippines’ award at the recently held Euromoney Awards for Excellence 2022, solidifying its strong position and reliability as the country’s second largest bank.
"Metrobank's story was about more than prudence. The bank is out there supporting a reviving economy, recording a growth in its commercial lending business. It also took advantage of COVID to push digital channels and launch a host of new services to address its customers' needs," said Euromoney.
Euromoney Excellence Awards recognizes the best of the best financial institutions globally. For the Best Bank category, Euromoney scrutinizes the following key metrics: market capitalization; total revenues; pre-tax profit; net income; return on tangible common equity; return on assets; net interest margin; cost-to-income ratio; Basel III Tier-1 capital; market share of deposits; market share of loans; loan-to-deposit ratio; non-performing loan ratio; and non-performing loan coverage ratio.
“It is a great honor to be named as the Best Bank in the Philippines by Euromoney, which is a highly regarded institution in the financial industry. This is very timely as we mark our 60th anniversary of serving Filipinos this September,” said Metrobank President Fabian Dee.
“This award is a testament to the hard work of Metrobankers to maintain the Bank’s status as a strong, reliable, and stable partner for all our stakeholders. At Metrobank, we remain committed in serving our customers as their trusted financial partner,” he added.
Metrobank also recently received praise from other award giving bodies such as Asiamoney, The Asian Banker, and LinkedIn for being the Best Domestic Bank, the Strongest Bank, and the Top Banking Employer in the Philippines, respectively.
Metrobank is the country's second largest private universal bank. The Bank believes that its robust capital position and balance sheet strength will provide ample support as it navigates through these uncertain times. Capital ratios are among the highest in the industry, with total CAR at 18.5% and Common Equity Tier 1 (CET1) ratio at 17.6%. Consolidated assets stood at P2.6 trillion as of end March 2022, making it one of the strongest and well-capitalized banks in the country.