Ty-led Metropolitan Bank & Trust Co. is celebrating its 59th anniversary stronger than ever.

After nearly six decades of uninterrupted profits and significant growth, Metrobank has reaffirmed its commitment to be a catalyst for building wealth, supporting businesses and revitalizing the economy.

Metrobank president Fabian S. Dee said the bank is ready for both longer drawn lockdowns or a sudden surge in economic activities given its robust balance sheet.

“We are entering our prime age of 59 ready to support our country’s path back to growth in 2022 with the strongest capital base, highest liquidity and best asset quality we have had even before pre-pandemic times,” Dee said.

Consolidated assets stood at P2.5 trillion at the end of June, making Metrobank the country’s second largest private universal bank.

“Metrobank is in peak maturity at its relatively young institutional age of 59 years, currently possessing what is known in the industry as a “fortress balance sheet” with its capital adequacy ratio at 20.4% and liquidity coverage ratio at 262% as of June 30, 2021. This further ensures that its clients and investors are well-secured, and the bank poised for more growth,” he pointed out.

“We’ve been through good times and bad times with our Metrobankers, investors, and our customers. And in those times, we learned a great many lessons. We endured and we learned how we can move forward,” he said.

Dee said bank’s decision to bulk up its loan loss reserves by more than four times the P10.1 billion booked in 2019 helped Metrobank weather the economic crunch.

“It proved to be an astute decision over time, translating to a 163% loan loss cover, despite the bank’s NPL [non-performing ratio] being one of the lowest in the industry at 2.4%,” Dee said.

Taking seriously its role as a strong contributor to nation building, Metrobank continues to provide a lifeline to Filipinos to boost economic recovery efforts.

Since the beginning of the pandemic, Metrobank has released more than P346 million to various pandemic aid programs.

Through the Metrobank Foundation (MBFI) and GT Foundation, Metrobank will distribute P15 million worth of grants to 12 cause-oriented groups.

Metrobank is committed to continue the legacy of its founder, the late George S.K. Ty, in making a difference in the lives of Filipinos.

“Our annual ceremony is renamed the ‘George S.K. Ty Grants Turnover’ to honor and perpetuate the legacy of our founding chairman. This grants turnover is one venue where we continue to carry on his values through programs and projects of our social development partners,” said MBFI president and GTFI executive director Aniceto M. Sobrepeña.

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59 years and still going strong: Metrobank well positioned to aid economic recovery
Source: Filipino Daily Inquirer