Now recognized as one of the country’s top financial institutions, few would have guessed that the Metropolitan Bank and Trust Company (Metrobank) at Wellington Building in Binondo, Manila would grow to become the institution it is known as today.
As it celebrates it 61st anniversary, we look back at Metrobank’s humble beginnings and its steady trajectory to become one of the country’s top financial institutions.
Metropolitan Bank and Trust Company (Metrobank) first opened its doors to the public on September 5, 1962 at the Wellington Building in Binondo, Manila. It was founded by Dr. George S.K. Ty, his first venture long before GT Capital Holdings.
From there, Metrobank continued its steady trajectory of growth and expansion, opening its first international branch in Taipei, Taiwan, in 1970. It was recognized as a universal bank by the Central Bank of the Philippines in August, 1981. In the same year, it was listed on the Philippine Stock Exchange.
By the mid-80s, Metrobank branches, offices and subsidiaries surpassed 200. The following year, it topped all private domestic banks in total resources, with P8.8 billion.
It should come as no surprise that its founder was approached by Japanese to reintroduce Toyota vehicles into the country. Today, Toyota Motor Philippines Corporation is one of its subsidiaries. These also include Philippine Savings Bank, SMBC Metro Investment Corporation, and Philippine AXA Life Insurance Corporation.
Metrobank today boasts of a diverse product portfolio including investment banking, thrift banking, leasing and financing, bancassurance, and credit cards. It offers a full range of services to large local and multinational corporations, middle-market and SMEs, high net-worth individuals and retail segment.
Arthur V. Ty assumed the responsibility of Chairman from his father and founder of Metrobank, Dr. George S.K. Ty, who passed away in 2018. Under Arthur Ty’s leadership, the bank has grown from strength to strength.
During the pandemic, Chairman Ty and President Fabian Dee steered the bank through treacherous times. When the economy reopened, it took a measured and disciplined approach to resuming full operations.
These have earned it enviable accolades from the financial community. In 2022, Metrobank was recognized as the Best Bank in the Philippines by Euromoney. It also received awards for Strongest Bank and Bank of the year in the Philippines from The Asian Banker and The Banker, respectively. In the recent publication of Time Magazine’s “World’s Best Companies 2023”, Metrobank was included as one of only six companies – and two banks – from the Philippines that made the cut. Time Magazine’s assessment for the bank’s revenue growth is high.
As of June, 2023, Metrobank now operates 947 domestic branches and over 30 overseas branches, subsidiaries and offices. It also maintains over 120 remittance tie-ups and around 160 remittance agents. The Metrobank group provides livelihood to over 17,000 Filipinos and overseas associates. As of June 2023, 48.0% of the company is publicly owned, where 37.2% belong to GT Capital Holdings, Inc., and 14.7% to the Ty family and other related parties.
Yet closer to consumers, the bank is driven by a simple but concise vision to empower individual and business clients, simply summarized in their slogan of “You’re in good hands.”