Metrobank bent on keeping top position

George Ty's flagship company, Metropolitan Bank & Trust Company (Metrobank) will do its best to retain its number one position in the banking industry, as other banking giants are trying to bloat their asset value to climb to the highest rank.

"We won't allow dropping to number two, we will fight to retain our position," said Metrobank president Arthur Ty, in an interview during the bank's Clients' Appreciation party held at Marco Polo Plaza Cebu, Friday night.

The ongoing works to officially merge Equitable PCI Bank and Henry Sy's Banco de Oro, is seen to threaten the number one position of Metrobank in the Philippine banking industry.

According to Ty, the bank has to do its very best to stay on top, although he declined to give the details on the bank's plans to protect its position.

He clarified that Metrobank has no plans of acquiring any bank at this point, although it is not closing its doors for possibilities in the future.

"We don't see any opportunity [yet], but we are always open," Ty said adding the bank has to see a good value of a potential bank, if ever it decides to acquire or merge.

Metrobank has remained the country's largest bank for several years now. Its consolidated un-audited total assets reached P641.5 billion as of year-end 2006.

The bank's total assets increased by another P55 billion, or 9.4 percent from the P586.5 billion recorded in 2005.

Sy-owned SM Investments Corp. and Banco de Oro Universal Bank recently acquired the shareholdings of the Go family in Equitable PCI Bank Inc. and the Equitable Card Network Inc. (ECNI).

In an earlier disclosure at the Philippine Stock Exchange, SMIC and Banco de Oro said that jointly, they would be acquiring 180-million shares of Equitable PCI Bank at P56.50 a share and 1.975 million of Equitable card shares at P303.80 a share.

The Go family has a 24.76-percent interest in Equitable and a 10 percent stake in ECNI.

According to Sy, Metrobank will focus on strengthening its relationship with the clients, introducing more value added services to retain and increase client based.

There are about 540 Metrobank branches all over the country, 34 of which are located in Metro Cebu.

He said the bank will expand its market reach covering across the board, from corporate, entrepreneurs and consumer businesses.

Overall, Metrobank has a global presence of over 800 international and domestic branches, offices, subsidiaries and affiliates.