Metrobank's corporate lending jumps 29%

Banking giant Metropolitan Bank & Trust Co. (Metrobank) recorded a 29-percent increase in corporate lending in the first nine months this year to P39.5 billion, a top bank executive said.

Metrobank executive vice president and corporate banking group head Vicente Cuna Jr. said the figure already represents a record mark for the bank, adding that corporate lending would increase further due to strong demand for credit amid the global financial crisis, as well as better services extended by the bank.

“Our extensive branch network, as well as superior credit process, better products, and enhanced delivery systems will also play a key role in helping the corporate business achieve its goals in 2009,” he noted.

He said this year’s performance was fueled by growth from the different corporate segments and complemented by strong lending of other sectors.

Cuna said the bank’s corporate products such as Metrocash Manager’s payroll and check writing services and electronic invoice presentment (Internet-based method of sending invoices) are all designed with corporate clients’ specialized requirements.

The corporate banking services are made available through Metrobankdirect, the Internet banking facility of Metrobank. So far, corporate enrollees in Metrobank direct have grown by 122 percent.

Meanwhile, Metrobank’s auto loans grew 30.65 percent while mortgage loan availments expanded 27.65 percent. Eighty-seven percent of the bank’s home and car loans were branch-generated.

Majority of loans still come from Metro Manila, although countryside loan volume is considerably growing, coming mainly from overseas Filipino workers.

Metrobank’s net loans and receivables in the first semester expanded 21.6 percent, or P60.1 billion, due to increased loans in growth sectors such as energy, utilities, telecommunications, financial services, property and consumer lending.