Metropolitan Bank and Trust Company
 |
|
| Metrobank | |
| Public (: MBT) | |
| Industry | Finance and Insurance |
| Founded | Binondo, Manila, Philippines (1962) |
| Founder | George Ty |
| Headquarters | Makati, Philippines |
|
Number of locations
|
920 branches 2,100 ATMs [1] |
|
Key people
|
George Ty (Group chairman) Arthur V. Ty (Chairman) Fabian S. Dee (President) |
| Products | Financial Services |
| Revenue |
USD 1.040 billion ( 8.62%) (2011)[2]
|
|
USD 286 million (33.71%) (2011) [3]
|
|
| Total assets |
USD 22.128 billion (8.01%) (2011) |
|
Number of employees
|
10,759 |
| Website | www.metrobank.com.ph |
The Metropolitan Bank and Trust Company (: MBT), commonly known as Metrobank, is the second largest bank in the Philippines. It offers various financial services, from regular banking to insurance. It is the banking arm of tycoon George Ty.
Metropolitan Bank and Trust Company (Metrobank) was established by a group of businessmen on September 5, 1962 at the Wellington Building in Binondo, Manila. In August 1963, the bank’s first branch was established in Divisoria. Four years later, Metrobank opened its Davao branch, the bank’s first provincial branch. At the onset of the 70s, Metrobank opened its first international branch in Taipei, Taiwan's capital city.
The Central Bank, in April 1977, authorized Metrobank to operate a Foreign Currency Deposit Unit (FCDU). In the same year, branches and offices totaled 100 and the bank inaugurated its new Head Office at Metrobank Plaza in Makati.
On August 21, 1981, the Central Bank authorized Metrobank to operate as a universal bank. Following the grant of the universal banking license, Metrobank entered the following ventures: the acquisition of majority ownership of Philippine Savings Bank (the second largest savings bank in the country at that time); the establishment of a joint travel agency venture with Thomas Cook Group in Thomas Cook Phils., Inc. in 1986; and the tying-up with Toyota Motor Corporation of Japan and Mitsui to put up Toyota Motor Philippines in 1988. Metrobank subsequently entered into joint ventures with several renowned corporations like Sumitomo Mitsui Banking Corporation of Japan to create Sumigin Metro Investment Corporation; the National Mutual Holdings Ltd. of Australia to create Philippine AXA Life Insurance Corporation; and the ORIX of Japan to create ORIX Metro Leasing and Finance Corporation.
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