Maynilad Water utilizes e-channels of Metrobank

MANILA, Philippines - The Metropolitan Bank and Trust Co. (Metrobank) and Maynilad Water Services Inc. (Maynilad) recently inked a partnership for a bills payment collection arrangement via electronic delivery channels (BPCA-EDC).

The agreement enables Maynilad residential clients to course payments through the alternative banking channels of Metrobank, namely Metrobank ATM, Metrophone Banking, Metrobank Mobile Banking, and Metrobankdirect internet banking, and allows Maynilad corporate clients to view billing statements and make payments online via Metrobankdirect.

Customers enjoy increased accessibility with Metrobank’s nationwide presence and extensive number of ATMs. They are also ensured safety and security through the bank’s regular update of facilities in collection and payment modules and electronic channels.

“Through our partnership with Metrobank, we aim not only to enhance the efficiency of our collection system, but more importantly to provide our customers with greater convenience and ease,” Randolph Estrellado, Maynilad chief finance officer, said.

“Our tie-up with Maynilad reinforces our commitment to being the trusted banking partner of companies,” said Vicente R. Cuna Jr., Metrobank executive vice president. “We offer services that are anchored on the strengths of Metrobank, including a growing network and up-to-date system.”

BPCA-EDC is part of MetroCash Manager, the range of cash management products and services of Metrobank.  MetroCash Manager offers a variety of financial solutions for better management of cash flow, operational efficiency, added security, and convenience.

This includes basic banking services like online account statements, bills payment, and funds transfer; payment and collection solutions like auto credit and deposit pick-up; and government e-services like BIR Tax and SSS payments.

Maynilad is the water and wastewater services provider for the 17 cities and municipalities that comprise the West Zone of the greater Metro Manila area. The company operates, maintains and invests in the water and sewerage system in Caloocan, Las Piñas, Malabon, Manila, Muntinlupa, Navotas, Pasay, Parañaque, Valenzuela, parts of Quezon City, a part of Makati, Cavite City, and the municipalities of Rosario, Imus, Noveleta, Bacoor, and Kawit in Cavite.

Metrobank reported a consolidated net income to P4.6 billion in the first nine months of 2009. In the third quarter alone, net earnings hit P1.5 billion, or 48.9 percent higher than in the same three-month period last year. 

Gross non-performing loans (NPLs) declined by 26.2 percent or P4.8 billion. NPL ratio dropped to 4.1 percent at the end of the third quarter, from 5.3 percent in the same period last year.

Metrobank likewise reported consolidated assets worth P793.1 billion, with a capital position of P75.2 billion. Capital adequacy ratio (CAR) stood at 14.5 percent with Tier 1 ratio at 10.1 percent.

It has a consolidated network of 730 local branches, 1,150 onsite and offsite automated teller machines (ATMs), and 35 foreign branches, offices, and subsidiaries.