Metrobank to open branches in Davao

The Metropolitan Bank & Trust Co. (Metrobank) is opening two more branches in the southern province of Davao as part of its strategy to grow retail customers and provide a better service.

Metrobank inaugurated over the weekend the Davao Airport View branch at the commercial complex along C.P. Garcia Highway in Cattipan, Barangay Communal, and the Davao Damosa branch at the Damosa Business Center in Lanang.

Thus at the start of 2009, Metrobank will be operating a total of 552 domestic branches and 800 automated teller machines (ATMs). Its extensive network includes 37 international branches and offices in 21 countries.

Metrobank executive vice president and National Branch Banking Sector head Fabian Dee said that they will be opening seven more branches in the Visayan region within the year.

Three more branches are scheduled to be opened in Cebu, two more in Eastern Visayas, and possibly another two in Western Visayas in the provinces of Bacolod and Iloilo.

Last week, two new branches were opened in the province of Cebu. Inaugurated were the Cebu Parkmall Branch at the North Reclamation Area in Mandaue City and the Cebu Mactan MEPZ 1 Branch at the Mactan Economic Zone 1 in Lapu Lapu City.

Metrobank presently operates 74 branches in the region.

Dee said that the bank remains optimistic about deposit growth, especially with its aggressive branch and ATM expansion.

“Our strategy is to expand our distribution network and to put more branches at the doorstep of our customers,” he explained. “We want to strengthen banking relationship with our customers.”

The bank official explained that its branch network demonstrates renewed energy and competitiveness, delivering exemplary performance in generating low-cost deposits, consumer loans, and cross-sales of subsidiary products.

In fact, Metrobank just concluded the roll-out of their sales effectiveness program that helped re-engineer all branches into sales-driven “brick-and-mortar” outlets.

Earlier, Metrobank reported that its net interest income was stable due to a combination of sustained volume growth and improved deposit mix. As of the quarter ended September 30, 2008, the bank’s funding was boosted by a 7.6 percent growth in deposits to P541.4 billion.

It reported consolidated resources at P726.1 billion, while recording consolidated net income of P3.6 billion in the same period.