It takes a dependable, vigorous, and highly adaptable institution to gain people’s trust during times of prolonged uncertainty and financial anxiety. As a testament to Metrobank’s solid banking franchise, the Bank generated a 22% increase in current and savings accounts (CASA) to Php1.3 trillion, thus boosting overall deposits to nearly Php1.8 trillion in 2020.
The balancing act between continuing to serve our customers and ensuring their safety as well as that of Metrobank’s branch frontliners was paramount in our efforts in 2020. At the height of the Enhanced Community Quarantine (ECQ), the Bank kept open more than half of its branches to serve the public. Branches were reconfigured to align with social distancing guidelines and banking hours in branches were adjusted accordingly.
When various degrees of restrictions were implemented across the nation, customers were encouraged to stay at home. The Bank initiated efforts to go to where the customers are to ensure that they have continued access to our services.
In 2020, the Earnest application has enabled clients to open digital deposit and investment accounts, while accessing the Bank’s wide range of products and services.
To complement and strengthen its online banking initiatives, the Bank deployed mobile ATMs to reach more clients and to facilitate their banking needs.
Despite the difficulties of 2020, Metrobank’s lending business went beyond service banking and optimized the use of technology in connecting and re-establishing stronger ties with clients. Measures were undertaken to keep the customers well-informed on available solutions to their financial needs as they navigated the new normal of banking.
To provide relief to borrowers, the provisions of the Bayanihan Acts 1 and 2 were fully implemented. At the same time, efforts were directed to safeguard asset quality by actively engaging with borrowers and ensuring prudent credit standards are in place.
For customer convenience, the Bank’s Consumer Business Sector launched a Mobile Statement of Account (SOA) facility wherein SOAs are sent to clients’ mobile phones through SMS and a secure personalized link – a way to minimize physical deliveries.
At the onset of the pandemic, the Institutional Banking Sector stayed nimble in serving clients as it leveraged on the Bank’s established protocols to ensure Metrobankers and clients are safe and secure and processes are in compliance with regulations. In line with the Bank’s full support to government initiatives, the team focused on supporting clients that run essential businesses like food, basic services, healthcare, and logistics, among others.
The Financial Markets Sector’s strong performance in 2020 was attributed to the team’s resilience and commitment to business continuity, uninterrupted service delivery and customer satisfaction in an extraordinary year. The team managed to generate a record trading income of Php15 billion, which enabled the Bank to pursue its strategy of accelerating provisions to serve as a buffer for anticipated asset quality risks.
Moreover, Metrobank, through its Treasury Group, became the first Philippine bank to utilize the global Continuous Linked Settlement (CLS) facility as a third-party participant through its partnership with Switzerland-based international bank, UBS AG.
Meanwhile, the Bank’s Trust Banking Group ended 2020 with an all-time high Assets Under Management of Php 558 billion, a 15 percent increase from the previous year.
Significantly, Metrobank heeded the Bangko Sentral ng Pilipinas (BSP) call, creating three Digital Personal Equity Retirement (PERA) funds in 2020: the Metro PERA Money Market Fund, the Metro PERA Bond Fund, and the Metro PERA Equity Fund.
In 2020, Metrobank went the extra mile in protecting the welfare of its retail and corporate customers. Its deep concern for the health and financial mobility of its customers inspired the Bank to go beyond the best standards of customer protection, as set by the Bangko Sentral ng Pilipinas (BSP) and guided by its own Consumer Protection Policy Manual (CPPM).
The Bank launched a better Metrobank Online (MBO), offering a safer and more convenient way of banking — a timely development as many customers shifted to digital banking when the pandemic hit.
Promoting financial literacy is embedded in the Bank’s brand promise. In doing so, it regularly teaches customers through all channels, on ways to save and invest their money. Moreover, the Bank also aims to promote fraud awareness among the banking public.
In 2020, Metrobank spearheaded Scam Proof, a website and online platform that consolidates information about different online scams and fraudulent activities. Mindful of increasing digital transactions that are vulnerable to illicit schemes, this financial education initiative aims to increase awareness about online scams and provide tips on how to avoid them. The platform engages the community in detecting and reporting fraud across banks and other industries, thus empowering consumers.
Whenever Metrobank receives a customer’s feedback, it is an opportunity for the Bank to connect with the customer and nurture and sustain the relationship. In promptly responding to every customer’s demand and needs, the Bank assures customers that their sentiments are heard, pain points are addressed, and overall experience with the Bank is improved.
The Metrobank Group takes pride in its collective strength and diversified portfolio. Our subsidiaries, which were likewise affected by the sudden shift in the business landscape, have calibrated their strategies to leverage on their key strengths as they dealt with the crisis.
Philippine Savings Bank (PSBank) stayed resilient and took a conservative stance in 2020 on credit provisioning in anticipation of risks associated with the pandemic. Pre-provisioning operating income surged to 31% to Php7.5 billion. This enabled PSBank to set aside additional loan loss provisions to three times over to Php6.4 billion, resulting in Php1.1 billion net income for
the year.
First Metro Investment Corporation (FMIC) was able to maintain its pursuit of creating value for its clients and fulfilling its mission as a prime mover of the Philippine capital markets while ensuring the health and safety of its employees. With 23 completed deals both in equity and capital markets, the investment bank demonstrated its fundamental ability to execute and solidify its leadership position with 71% participation in the domestic capital markets’ issuances in 2020, with strong performance in deal structuring and distribution.
Marking its 21st year of providing quality insurance products for Filipinos, AXA Philippines (AXA), continued to service its more than 1.5 million clients protected under general insurance, and various individual and group life insurance products through its wholly owned subsidiary Charter Ping An.
When the pandemic hit, the Group’s insurance arm adjusted to the new environment and immediately took care of its people who remained committed to its customers.
ORIX METRO Leasing and Finance Corporation (ORIX METRO) remains one of the strongly capitalized leasing and financing companies in the country with total equity of Php8.7 billion in 2020. As it developed a more prudent credit approval process following the health crisis, it quadrupled its provisions for credit losses to Php1.4 billion, ending the year with a net income of Php219 million.
