MANILA, Philippines - Metropolitan Bank & Trust Co. (Metrobank) will be opening 30 new full-service branches and install 200 automated teller machines (ATMs) this year to meet the expanding requirements of the retail market.
This would bring its consolidated branch network, including affiliate Philippine Savings Bank (PSBank) to a total of 856 from 828 in end-2013.
Likewise, its ATM network would surpass the 1,000-mark. In fact, 600 ATM units have been upgraded to be EMV-compliant, or with the ability to read state-on-the-art cards with security-conscious computer chips.
There will also be ATMs that dispense of cash while others can dispense and accept deposits or payments.
Mobile apps for mobile banking through the Internet will also be introduced.
Metrobank is also improving its mobile technology to make it more safe and convenient for its clients to transact business without having to visit any branch.
“The penetration rate for electronic banking has grown by another 15 percent from our four million depositor base,†Mark B. Perez, Metrobank retail banking head, said.
With the weakening of trading and forex gains, banks are refocusing their attention to other revenue streams, including non-interest income. That means fee- or commission based earnings from card transactions, bancassurance, and money transfers.
“The mission is to acquire more customers in the shortest possible time, retain them (existing and new, then deepen the product suite for their convenience,†Perez added.
Metrobank targets a 10- to 15-percent growth rate in fee-based income this year.
Bancassurance, or the use of Metrobank’s branch network by its affiliates such as insurance, is still contributing less than five percent of fee- and commission-based income.
Life insurer AXA Philippines is the bancassurance joint venture partner of Metrobank.
For 2014, Metrobank is targeting a 15- to 18-percent loan portfolio growth.
Of the total, consumer or retail lending is targeted to expand by 18- to 20-percent bannered by mortgage lending followed closely by auto loans.