MANILA, Philippines - Metropolitan Bank & Trust Co. (Metrobank), the banking arm of the Ty family, is pursuing its branch expansion this year to further strengthen its local presence in preparation for the integration of the ASEAN economies in 2015.
Metrobank president Fabian Dee said they plan to put up at least 25 branches this year.
In 2013, the bank to put up 27 additional branches all over the country, bringing its total network to 820 branches.
Dee said most of the new branches will be established in key provinces where new businesses like BPOs are being set up. “We may concentrate in Visayas and Mindanao,†he said.
Since the bank has strong presence in ASEAN, Dee said their preparation for ASEAN integration should be geared toward strengthening their local operations.
“Metrobank has had ASEAN presence earlier than the other players. We’ve been present already in Korea, Japan, Taiwan. Nothing new to us. What we want is to improve our platform here and be better at serving our customers. Basically that’s it,†he said.
He said, they are presently well-capitalized but is still studying the market for the right timing to issue new capital notes.
Earlier, Metrobank sought the authority of the Bangko Sentral ng Pilipinas to issue either peso or dollar notes in compliance with Basel III standards.
Metrobank has conducted roadshows for the planned $500 million Tier 2 capital notes issuance.
It said the planned issuance would also allow the bank to proactively manage its capital base for growth and refinance maturing capital securities.
The Basel III guidelines issued by the BSP in Jan. 15, 2003 requires that Tier 2 notes have a provision for the instrument to either be written off or converted to common equity upon occurrence of certain trigger events.