Metrobank relocates branch to address growing traffic

CEBU, Philippines -  In response to the growing customer traffic and market demand, Metropolitan Bank and Trust Co. (Metrobank) moved one of its branches in Cebu and will officially open today.

Its Cebu-Manalili branch which was located at V. Gullas corner D. Jakosalem Street, Sto. Niño has been moved to a new location situated at La Nueva Supermart, City Hall Center, MC Briones Street.

It will be renamed Metrobank-Cebu MC Briones Branch.

Banking hours will be from 9 AM to 4 PM during weekdays and from 11 AM to 3 PM every Saturday.

Area Head Lorna Tolentino said that the relocated branch now has ample parking space compared to the previous location, thus providing further convenience and accommodation to their clients.

She added that the recognition of Metrobank as the best bank for the third consecutive year is a testament to the unwavering support of its clientele.

“We have been cited for our leadership and innovation, our strengthened balance sheet, improvements in corporate governance, increased transparency to its stakeholders and strong share price performance,” she stated.

Tolentino also revealed that Metrobank will open its South Road Properties branch in the first quarter of 2013.

In Cebu, Metrobank has a total of 37 branches and 96 Automated Teller Machines (ATMs)

The country’s premier universal bank with an extensive consolidated network also spans over 800 branches, 1,600 ATMs nationwide and 40 foreign branches, subsidiaries and representative offices.  

In earlier reports, Metrobank posted remarkable earnings growth in the first nine months of 2012 which was attributed by higher gains from trending and core lending.

It reported a consolidated net income of P10.2 billion from January to September of this year or 15.2 percent higher from the P8.9 billion earned in the same period in 2011.

Metrobank’s return on average equity, as a result, was recorded at 12.2%.

Total operating income grew by 8.9% to P41 billion on the back of a 6.7% growth in net interest income to P23 billion.

Buoyed by the 11.2% year-on-ear expansion in net loans and receivables to P481.4 billion with a healthy mix of deposits, the bank’s net interest margin also showed a marked improvement from last year amid the intensified market competition and declining interest rates.

Revenue growth was likewise supported by the 11.7% hike in non-interest income, in turn driven by steady growth in fee-based income, higher contributions from associates, and earnings from treasury and investment activities. 

Metrobank ended the third quarter with P953.7 billion in consolidated assets and total equity of P114.4 billion.  (FREEMAN)