Metropolitan Bank and Trust Company (Metrobank) has been named "Best Domestic Bank" in the Philippines by Asiamoney in its annual Best Bank Awards.
The award is the latest in a string of accolades for the group, including Best Managed Company in the Philippines, also by Asiamoney, and Best Bank in the Philippines by Euromoney.
Asiamoney is a financial monthly publication that provides discerning reporting and analysis of financial and investment markets for capital issuers, borrowers, institutional investors, and senior corporate and government monetary decision-makers with business interests in the Asia-Pacific countries.
Metrobank was cited for its efforts in strengthening its balance sheet; improvements in corporate governance and investor relations; increased transparency to its stakeholders; and strong share price performance.
“It is an honor to receive this award from Asiamoney,†Metrobank chairman Antonio S. Abacan Jr. said.
“Metrobank has always remained true to its commitment to being the best bank for its customers, driven by our value for trust, leadership, and service,†he added.
Metrobank has been attracting increased attention for its recent accomplishments.
On an absolute 12-month performance, Metrobank shares rose 94 percent to close at P45.50 at the end of 2009.
For over a decade now, the Asiamoney Best Bank Awards has been honoring financial institutions all over the region for outstanding business performance.
The selection is based on independent research by the publication and discussions with market experts, including analysts and fund managers.
Also taken into account are the institution’s balance sheet performance, return-on–investment, share price and new business undertakings.
Metrobank is the country’s premier universal bank with an extensive consolidated network that spans over 1,200 automated teller machines (ATMs) nationwide, over 730 local branches, and 42 foreign branches, subsidiaries and representative offices. (PNA)
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