Metrobank serving the Filipinos overseas

MANILA, Philippines - Metrobank is relentless in its pursuit to grow and expand its network to provide greater convenience and accessibility to its customers here and abroad.

The Bank has always recognized the role and contribution of the Filipinos overseas to the country’s economy. It is not enough to be one of the biggest Bank’s in the country, but it is important to become a global financial services institution as well.

In 1970, its first international branch was established in Taipei. Five years later, its first branch in a US territory was established. Metrobank recognized the opportunity to make its presence felt in Guam, an area with a high concentration of Filipino workers.

Another jewel in its crown, Metrobank was the first Philippine bank to establish a branch in several countries, namely Taiwan, Korea, Japan and China. In fact, in 2001, Metrobank became the first Philippine bank which was allowed to open a branch in China, in the booming city of Shanghai.

Through the years, remittances from overseas Filipinos remain to be a big contributor to the country’s economic growth. Bangko Sentral recently reported that remittances from overseas Filipinos coursed through banks reached a record high of US$1.5 billion in June 2009, posting a year-on-year growth of 3.3 percent. Likewise, BSP reported that throughout 2009 Deployment of Filipino workers abroad will be ready given the employment arrangements between the Philippines and countries such as Qatar, Saudi Arabia, Canada, Australia and South Korea, and other host countries.

Being a trusted global banking partner, Metrobank even helps Filipinos prepare for their deployment abroad. Metrobank runs a Pre-Departure Orientation Seminars (PDOS) of the POEA to help OFWs ready for deployment to develop financial savvyness and prudence.

Through the PDOS OFWs become more financially aware. They are taught basic banking and remittance process and why it’s important to send remittances through banks. The program also aims to encourage them to think long-term and set aside a portion of their remittance for savings. This will ultimately lead to financial independence, with their remittances being able to build a stable future for them back in the Philippines.

Recently, the Bank also sponsored a seminar in Hong Kong on “Financial Literacy for Remittance Senders,” to equip OFWs with the knowledge and skills in identifying their current financial position, defining their financial goals, and helping them reach their financial dreams.   The training was well-received by OFWs, who were mostly domestics nearing retirement age. 

Noting its positive effects, the participants agreed that they learned a lot from (the program), opened up their mind and heart to start their future plan and that financial tips are crucial to them.

On it’s 47th year, and 39 years after establishing it’s first overseas branch, the Bank now boasts of a global network 8 branches, two representative offices, 25 subsidiaries and remittance offices, 45 remittance correspondents, and over 1,000 correspondent banks.