MANILA, Philippines — Metropolitan Bank and Trust Co. was recognized once again as the country’s best domestic bank for its strong financial performance and financial education efforts at the recently held 2023 Asiamoney Best Bank Awards.
This is the second time Metrobank was bestowed this award by the international finance magazine, first was during the height of the pandemic in 2021. The publication said Metrobank’s exceptional performance versus competitors, its success in growing its market share, and its remarkable strategy to cope with difficult or changing market conditions, earned it the title.
Amid the reopening of the economy in 2022, Metrobank was committed to enabling Filipinos – both individuals and businesses – to take advantage of the gradual economic recovery. This fueled the bank’s impressive performance across the board.
“The previous fiscal year posed many challenges for banks and other financial institutions as the world’s economies were not yet fully recovered from the pandemic. Despite this hurdle, Metrobank still posted an all-time high profit of P32.8 billion in 2022, a significant 47.9 percent growth from its P22.2 billion income in 2021. The bank also saw gains across the board with rising loans, increased profit margins, substantial fee income levels, well-controlled operating expenses, lowered provisions, and stable asset quality,” said Asiamoney.
The publication also underscored Metrobank’s efforts to continuously support its clients not just with its best-in-class services, but with relevant information and advice on finance: “Metrobank is a mainstay of the Philippine economy and its financial education platforms are second to none.”
“This award by Asiamoney is very timely as we also celebrate Metrobank’s 61st anniversary on Sept. 5. It is a testament to the bank’s strength and capability to navigate through challenging times and changing market conditions. More importantly, this shows the resilience exhibited by our employees because they are key to bringing the bank to where it is today. Indeed, our goal is to fulfill our promise of keeping our clients in good hands,” said Metrobank president Fabian Dee.
“By empowering economic activity through our services, our hope is to contribute to the country’s financial and economic recovery.”