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THE
Metropolitan Bank and Trust Co. (Metrobank) is expanding
its branch network to 546 by opening six more branches
to generate more consumer loans.
In a
statement, the bank said it has opened new 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 a branch in Cebu-Parkmall
in the North Reclamation area, Mandaue City. This brings
the nationwide network of the bank to a total of 546
branches.
“The new
outlets are part of the bank’s strategy to provide
services and offer financial solutions in areas where
clients are better served,” the bank said.
Fabian
Dee, Metrobank executive vice president and national
branch banking sector head said that while branch
banking concentrates on taking deposits, it is also good
in gathering loans.
“The
network composed of 546 branches continues to
demonstrate renewed energy and competitiveness,
delivering exemplary performance in generating low-cost
deposits, consumer loans and cross-sales of subsidiary
products,” he said.
“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,” he added.
For the
first quarter of this year, Metrobank’s consolidated
deposits reached P493.63 billion.
Metrobank is the Philippines’ largest bank, with
consolidated assets of P677.96 billion for the period
ending March 30, 2008. The bank recorded a consolidated
net income of P1.76 billion in the first quarter of this
year. |
