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By Maricel E. Burgonio, Reporter
METROPOLITAN Bank & Trust Co. opened new
branches in the key areas of Luzon and Cebu to support the growth of
its retail business.
In a statement, Fabian Dee, Metrobank executive
vice president, said the expansion of its branch network is not only
intended to widen the bank’s deposits but to target retail
customers.
“While deposit taking is still the key
business of branch banking, the bank has steadily expanded its other
retail businesses like housing and car loans, bancassurance and
credit cards,” Dee said.
For the first quarter of this year,
Metrobank’s consolidated deposits reached P493.63 billion.
Dee said Metrobank opened branches in San
Nicolas, Ilocos Norte; Cavite Economic Zone in Rosario, Cavite;
TriNoma Mall, Quezon City; Domestic Airport, Pasay City; and
Frontera Verde, Pasig.
The bank is also scheduled to open by mid-July
its Cebu-Parkmall branch located in the North Reclamation Area,
Mandaue City, Cebu.
Metrobank’s additional branches increased its
nationwide network to 546.
“The new outlets are part of the bank’s
strategy to provide services and offer financial solutions in areas
where clients are better served,” Dee said.
Metrobank is the Philippines’ largest bank,
with consolidated assets of P677.96 billion as of March this year.
Its net income fell by 15.64 percent to P1.76
billion in the first quarter from P2.08 billion in the same period
last year due to lower trading gains.
The bank will focus on its lending business on
the back of lower trading gains.
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