THE Metropolitan Bank and Trust Company (Metrobank) remains optimistic its deposits will grow further as it opens two new branches in Cebu today as part of its expansion program this year.

In a statement released to the Cebu media yesterday, Metrobank executive vice president and national branch banking sector head Fabian Dee, said the branch network will continue to demonstrate renewed energy and competitiveness in generating low-cost deposits, consumer loans and cross-sales of the bank’s subsidiary products.

Metrobank reported its net interest income is “stable” because of its volume growth and an improved deposit mix.

At the end of the third quarter last year, Metro-bank posted a 7.6-percent growth in deposits, reaching P541.4 billion.

The bank also reported a 10.9-percent growth in low-cost deposits, accounting for 45 percent of its total deposit base.

The bank’s consolidated resources is P726.1 billion while its consolidated net income is P3.6 billion as of the end of September 2008.

Metrobank’s new bran-ches in Cebu will be at Parkmall@168 in Mandaue City and at Mactan Economic Zone 1 in Lapu-Lapu City.

According to the statement, this is the most recent expansion program of the bank in the last two years.

At present, the bank now has a network of 553 branches and over 800 automatic teller machines nationwide. (DME)

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(January 23, 2009 issue)
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