In 2023, Metrobank generated a direct economic value of PHP 155.5 billion, demonstrating a robust financial performance. Operational expenses amounted to PHP 66.8 billion, primarily directed towards payments to local suppliers and service providers, while PHP 21.6 billion was allocated to the remuneration, rewards, and benefits of our employees. Shareholders and other capital payments were at PHP 16.7 billion, while PHP 21.7 billion was paid in taxes, licenses, and other governmental fees. We empowered families and communities through Metrobank Foundation with PHP 102 million in community investments.

Our tax strategy underscores the strict adherence to all tax laws and regulations to ensure compliance and protect Metrobank’s reputation. We maintain high levels of transparency in our tax dealings and reporting. We also seek to further support government initiatives that promote economic growth and sustainable development, while exploring possible tax benefits that may come with such initiatives.

To know more, read Metrobank’s 2023 Financial Statements.

Metrobank adheres to international treaties on human rights and labor rights. We do not tolerate any human rights abuses such as forced labor, child labor, and discrimination. The bank also has zero tolerance for all forms of corruption. We expect strict adherence from our supply chain partners on human rights and other protections under local laws. We also expect them to be mindful of their environmental impact and require an Environmental Compliance Certificate for projects potentially impacting the environment.

Additionally, we also follow the Bangko Sentral ng Pilipinas (BSP) guidelines in our process for choosing suppliers and contractors. We strictly follow our policy for canvassing and bidding when buying products or hiring for services. We prioritize working with local suppliers, with local procurement spend growing by 35% year-on-year.