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Metrobank posts record earnings of PHP 48.1B in 2024

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Strong asset expansion drives income growth

Metropolitan Bank & Trust Co.’s (Metrobank) net income rose by 14.0% year-on-year to a record PHP48.1 billion in 2024, supported by robust asset expansion and improving asset quality.

This translated to a 13.0% return on equity, higher than the 12.5% recorded in the same period last year.

The Board also approved a total cash dividend of PHP5.00 per share for the year. Aside from the regular dividend of PHP3.00 per share that will be paid out on a semi-annual basis, a special cash dividend of PHP2.00 was declared. The first payout of PHP3.50 will be given to shareholders on record as of March 6, 2025.

“The hard work that all Metrobankers put in growing our corporate, middle market, retail and wealth segments as well as our investments in technology and human resources and risk management initiatives continue to bear fruit,” said Metrobank President Fabian S. Dee. “This positive momentum and our strong balance sheet set us up very well to continuously meet the growing needs of our clients and to pursue our medium-term strategies,” he added.

The Bank’s net interest income rose 8.7% to PHP114.1 billion on the back of a strong 17.0% expansion in gross loans, outpacing industry growth of 12.5%. Commercial loans surged by 17.7% as corporates continued to increase capital spending. Consumer loans grew by 14.4% driven by an 18.6% rise in net credit card receivables and 18.2% growth in auto loans.

Total deposits rose by 8.0% to PHP2.6 trillion from a year ago, of which low-cost Current and Savings Accounts (CASA) accounted for 57.8%. Fee and trust income edged up to PHP18.1 billion supported by growth in consumer business. In addition, the Bank booked a combined trading and foreign exchange gain of PHP5.6 billion in 2024, a 39% year-on-year improvement.

Operating costs grew 11.0%, year-on-year, to PHP77.2 billion driven by transaction related taxes as well as manpower, technology and marketing costs as the bank continued to invest for growth.

Metrobank’s non-performing loans (NPLs) ratio further eased to 1.43% from 1.69% in 2023, which enabled the Bank to reduce provisions by 29.2% year-on-year. NPL cover, nonetheless, remains high at 163.5%, providing a substantial buffer against any emerging risks to the portfolio.

Metrobank’s total consolidated assets stood at PHP3.52 trillion, maintaining its status as the country’s second largest private universal bank. Total equity reached PHP385.5 billion.

The Bank’s fortress balance sheet remains evident with capital adequacy ratio at 16.7% and Common Equity Tier 1 (CET1) ratio at 15.9%, all well above the BSP’s minimum regulatory requirements. Metrobank’s Liquidity Coverage Ratio (LCR) is also high at 256.1%.

Metrobank was thus, recognized by the Asian Banker as the country’s Strongest Bank for the fourth consecutive year. During the Euromoney Awards for Excellence 2024, it was also named as the Best Bank for Corporate Responsibility for its efforts via Metrobank Foundation to support the country’s education, arts and social sectors. The Asian Banker also noted Metrobank as the Most Recommended Retail Bank in the Philippines, based on the results of The Asian Banker’s Annual BankQuality™ Consumer Survey in January 2024.

Metrobank is the country’s second largest private universal bank that empowers both retail and business clients with customized financial products and services fit to help reach their goals and full potential. It has an extensive consolidated network that spans 960 domestic branches nationwide, more than 2,300 ATMs, and around 30 foreign branches, subsidiaries, and representative offices. The Bank believes that its robust capital position and balance sheet strength will provide ample support as it navigates through uncertain times. Capital ratios are among the highest in the industry, with total CAR at 16.7% and Common Equity Tier 1 (CET1) ratio at 15.9%. Consolidated assets stood at PHP3.5 trillion at the end of December 2024, making it one of the strongest and well-capitalized banks in the country.

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Lumagui Celebrates BIR’s Record-Breaking Collection, Emphasizes Focus on Taxpayer-Oriented Service

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BIR Commissioner Romeo D. Lumagui, Jr.

The Bureau of Internal Revenue (BIR) successfully surpassed its 2024 revenue target set by the Development Budget Coordination Committee (DBCC), marking a historic achievement in the agency’s history.
BIR Commissioner Romeo D. Lumagui, Jr. confirmed that the agency collected a total of at least P2.848 trillion. “While the final collection figures will be confirmed in mid-February, we are confident that we have exceeded the DBCC’s target,” Lumagui stated.


Excluding 2020 when the target was adjusted due to the global pandemic—this is the first time in twenty years that the BIR surpassed its revenue goal. Moreover, this success comes despite the Philippine economy’s Gross Domestic Product (GDP) growing at a slower-than-expected rate of 5.2% in the third quarter of 2024, down from 6.4% in the previous quarter and 6% in the same period the previous year.
“The BIR has collected at least Php 2.848 trillion for 2024, and all credit goes to the hardworking men and women of the agency. Mabuhay po kayong lahat!” Lumagui expressed.


The Commissioner attributed this success to the agency’s focus on good governance reforms and a shift toward a taxpayer-oriented approach, which has enhanced voluntary tax compliance. “When government agencies enhance their processes and services, citizens are more willing to do their part and pay their fair share of taxes,” he added.


Since his appointment as BIR Commissioner by President Ferdinand R. Marcos Jr. back in 2022, Lumagui has garnered praise for his hands-on leadership, which has been crucial in strengthening the BIR’s commitment to good governance.


Under his leadership, the BIR achieved several notable milestones, including 100% nationwide ISO certification for various frontline processes, the Civil Service Commission’s Program to Institutionalize Meritocracy and Excellence in Human Resource Management (CSC PRIME-HRM) Maturity Level II Accreditation, and the National Privacy Commission (NPC) Seal of Registration in the previous year.


Lumagui has cultivated a culture within the BIR grounded in four four pillars, namely: strong and assertive enforcement activities, excellent taxpayer service, integrity and professionalism within the institution and among its employees, and a robust push for digitalization.


It was under his term that the BIR made a significant dent in combating the long-standing issue of “ghost receipts,” which involve the use of fictitious receipts and invoices to evade taxes. The establishment of the Run After Fake Transactions (RAFT) task force—a first in BIR history—has been a critical step in tackling this pervasive issue.


Additionally, the BIR introduced a new withholding tax system for online stores, leveling the playing field between traditional and digital retail businesses.
“We are thankful for the guidance and support of President Marcos, Jr., and this inspired us to reciprocate his trust with outstanding performance.

We now have a successful and proven template that works,” Lumagui explained. “My hope and prayer is that all the stakeholders – from both the public and private sector – will continue to support the reforms that we have put into place, so that we can continue to surpass our targets in the coming years,” the commissioner concluded.


Metrobank reaffirms award-winning leadership in securities trading and investment management

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Metrobank's Financial Markets Sector has once again demonstrated its commitment to excellence in securities trading and investment and wealth management, receives multiple recognitions from the government and local and international award-giving bodies. In photo (from left): Bureau of the Treasury (BTr) Deputy Treasurers Eduardo Anthony Mariño III and Ma. Nanette Diaz; Finance Secretary Ralph Recto; National Treasurer Sharon Almanza; Dep. Treas. Kenneth Ian Francisco; Metrobank 2024 Head of Treasury Rommel Dionisio; and Metrobank Head of Trading John Lu.

The Metropolitan Bank & Trust Co. (Metrobank) Financial Markets Sector has once again demonstrated its expertise in securities trading and investment and wealth management as it recently received recognitions from the government and local and international award-giving bodies.

The Bureau of the Treasury (BTr) named Metrobank as the Top Market Maker for 2024, during its 127th anniversary celebration where it recognized top partners for securities trading. This is the fourth straight year that Metrobank received this award, highlighting its efforts in helping the national government meet its financing requirements and supporting the Treasury’s initiatives in enhancing Filipinos’ access to investment opportunities.

Further affirming the Bank’s investment and wealth management expertise and unparalleled market insights, it also recently received accolades from the Fund Managers’ Association of the Philippines (FMAP) and the CFA Society Philippines. The Bank also received recognition from regional finance publications, namely, Alpha Southeast Asia, The Asset, and Citywire Asia.

At the recently held 2024 FMAP Awards Night, Metrobank was named as the Best Fixed Income House in the country for the second consecutive year. Metrobank executives also brought home titles and were recognized as the best among peers in various categories of fixed-income and foreign exchange strategy and trading.

Meanwhile, the CFA Society Philippines awarded Metrobank Trust for the outstanding performance of two of its UITFs relative to peers.

In the region, Metrobank’s Trust Banking Group emerged as the Best Asset Manager for the Country Specific Equity and Income Oriented Funds category and as the Best Fund with the Optimal Information Ratio, according to international publication Alpha Southeast Asia.

The publication underscored Metrobank Trust Banking Team’s outstanding investment competency and unparalleled market insights amidst a fast growing asset management industry in the Philippines. It noted the good performance of the equity and fixed-income portfolios managed by Metrobank Trust, and pointed out the continued growth of the Bank’s assets under management.

Moreover, at this year’s The Asset Awards, Metrobank was named the Top Investment House in the country for both the Local Currency Bonds and for G3 Bonds categories. Metrobank executives were also recognized, highlighting the Bank’s expertise in managing and investing in both domestic and global financial assets. Multiple members of its highly-capable team was also included at the Hong Kong-based publication’s Top 10 Astute Investors in Asia.

Metrobank Trust has received multiple recognitions from global experts for its strength, reliability, and overall stellar performance in the banking space. Citywire Asia has recognized it as the Best Asset Manager for the Philippines and named bank executives as part of the 2024 Top 25 ASEAN Selectors at the 2024 Citywire Asia ASEAN Awards.

These awards reflect Metrobank’s Financial Markets Sector’s commitment to excellence by providing best-in-class investment services and solutions to help clients reach their goals. 


𝗦𝗮𝗿𝗮𝗻𝗴𝗮𝗻𝗶 𝘀𝗵𝗶𝗻𝗲𝘀 𝗶𝗻 𝗹𝗼𝗰𝗮𝗹 𝗴𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 𝗮𝘁 𝗗𝗜𝗟𝗚 𝗣𝗮𝘀𝗶𝗱𝘂𝗻𝗴𝗼𝗴 𝘀𝗮 𝗗𝗼𝘀𝗲 𝟮𝟬𝟮𝟰

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(Photo by: Sarangani Provincial Information Office)

Alabel, Sarangani – The provincial government of Sarangani has earned multiple top awards at the DILG Pasidungog sa Dose 2024, highlighting its commitment to effective and progressive local governance in Region 12.

The province received the Most Outstanding Peace and Order Council (POC) of Region 12 award, achieving a perfect 100% score in the 2023 Functionality Audit.

Sarangani was also rated as Highly Functional in the 2024 Functionality Assessment for its Local Committee on Anti-Trafficking and Violence Against Women and Children (LCAT-VAWC), demonstrating its dedication to protecting vulnerable groups.

Additionally, Sarangani was awarded a Plaque of Appreciation for the Provincial Task Force’s role in the Retooled Community Support Program (RCSP-ELCAC), part of efforts to end local insurgency under Executive Order 70.

For its consistent performance in anti-drug initiatives, the province was also recognized with the Regional ADAC Award and achieved Hall of Fame status with a renewed 100% rating for its Anti-Drug Abuse Councils (ADAC).

Sarangani Governor Ruel Pacquiao expressed gratitude to Provincial Administrator Atty. Ryan Jay Ramos, PADAC, ELCAC, POC Focal Person Lizette Lopez, as well as Sarangani officials and employees for their contributions.

Pacquiao added that Sarangani’s achievements serve as a model of dedication, resilience, and excellence in local governance for other communities to follow.


Metrobank brings home Gold Stevies for its ‘Grow with Metrobank’ campaign

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Metropolitan Bank & Trust Co. (Metrobank) was recognized with a Gold Stevies at the recently held 2024 International Business Awards for its ‘Grow With Metrobank’ campaign, which tell the stories of growth from customers’ and Metrobankers’ perspective.

The campaign had two parts: first is a customer story video, which is based on how the Bank has helped clients in their journeys to success as told from customers’ point of view. It was complemented by Metrobank’s culture videos, which showcased the customer-first mindset among Metrobankers, underscoring the importance of delivering the Bank’s promised services to clients.

The ‘Grow with Metrobank’ campaign videos are the only Gold awardee and Philippine company recognized under the Video for Financial Services-Banking category. Winners in the video categories are those who qualified to have produced excellent videos for work-or business-related purposes.

“In an industry where oftentimes it is quite difficult to translate services into tangible benefits, the proponent has successfully overcome this hurdle with these bite-sized, relatable and easy-to-understand videos told from the lens of the customer, including employees who are the bank’s internal customers. What resonated the most in this nomination was the ‘culture of care’ within the organization, and this is evident in their 360-degree approach by getting real-time, candid feedback from frontline associates and leaders of their bank branch,” according to a Stevie Award judge.

“Overall, these videos have not only strengthened the bank’s brand image, but also fostered a sense of unity and purpose among its employees, further reinforcing Metrobank’s position as a trusted and reliable bank,” another judge said.

Another judge added: “People-centric videos with goal to promote the core values of Metrobank. Especially the Metrobank’s employee reaction video, which showcases sincere reactions of its employees and acts as a motivational tool. The ultimate goal of a Bank (or a business in general) is to grow, but in order to succeed, its customers should be taken care of and grow along with it.”

“These videos, which are inspired by the success stories of our clients, show how we have enabled them throughout the years as their trusted financial partner. It also reflects the Metrobankers’ ‘why.’ Why we come to work every morning, how we create impact in our clients’ lives, and the positive ripple effect of our customers’ growth on communities and our country. We are honored to be recognized by a prestigious award-giving body like the Stevies as it affirms our dedication to always put customers first in everything that we do,” said Metrobank Chief Marketing Officer Digs Dimagiba.

Receiving the Gold Stevie for Metrobank are (from left): Metrobank Brand Development Officer Bea Oliveros-Olba, Metrobank Corporate Affairs Head Estela Calderon, Metrobank PR and Corporate Communications Head Ann Gregorio, Metrobank Corporate Affairs Officer Micah Alvarez.

The annual International Business Awards program honors individuals and organizations of all types and sizes for their outstanding performance in the workplace worldwide. This year’s winners were selected from more than 3,600 nominations from various organizations of and of different industries in 62 nations and territories.


Cebuana Lhuillier Bank Strengthens Mindanao Footprint with new branch in General Santos City

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Cebuana Lhuillier Bank General Santos City Branch

General Santos City, Philippines – Cebuana Lhuillier Bank, one of the leading financial institutions in the country, proudly announces the grand launch of its new branch in General Santos City, following the successful grand launch of its Davao branch. Located at J. Catolico Sr. Ave., Lagao, General Santos City, this branch is another milestone in Cebuana Lhuillier’s mission to provide easy access to financial services to more communities in Mindanao.

Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier and Vice-Chairman of Cebuana Lhuillier Bank, shares his excitement about the expansion. “We are excited to bring our financial services to General Santos. With this new branch, we are taking another step closer to our goal of enabling more Filipinos to have the ability to expand their businesses and better their lives with convenient financial services,” Lhuillier adds.

L-R: Cebuana Lhuillier Bank Vice President, Jimmy Ang; Cebuana Lhuillier Senior Executive Vice President Philippe Andre Lhuillier; Cebuana Lhuillier Bank President, Dennis O. Valdes; Head of Retail Banking Division, Bernard Sison

Dennis Valdes, President of Cebuana Lhuillier Bank, also stresses that this branch is a crucial addition to the bank’s continuing advocacy on financial literacy and inclusion. “This branch in General Santos is a vital part of our vision to extend banking services to more Filipinos, particularly in underserved regions. We strive to make a difference for the better in the lives of those we touch,” Valdes says.

The General Santos branch offers a wide range of financial solutions, including Micro Savings, which are designed to help individuals save small amounts, providing them with access to a formal banking system that can assist in building a more secure financial future. In addition to micro-savings, the branch also offers the Cebuana Savings Account, providing clients with a safe and convenient way to manage their finances, complete with accessible features that cater to both personal and business needs.

For those looking to invest in their future, Cebuana Lhuillier Bank offers home loans and vehicle loans, allowing clients to purchase their dream home or car through flexible and affordable payment schemes.

Businesses and corporations can benefit from corporate and business loans, specifically designed to support entrepreneurs, startups, and established companies in expanding their operations or funding new projects.

Cebuana Lhuillier Bank also provides a teacher’s loan program, offering special financial assistance to teachers who need funds for personal or professional growth, with tailored loan packages that reflect their needs and capabilities.

L-R: Cebuana Lhuillier Bank President, Dennis O. Valdes; Hon. Lorelie Geronimo Pacquiao, Mayor of General Santos City, Cebuana Lhuillier Senior Executive Vice President Philippe Andre Lhuillier

The branch grand launch is graced by the presence of Cebuana Lhuillier Senior Executive Vice President, Philippe Andre Lhuillier, Cebuana Lhuillier Bank President, Sir Dennis O. Valdes, Hon. Lorelie Geronimo Pacquiao, distinguished Mayor of General Santos City, Hon. Jaime O. Tatad , Brgy. Captain of Lagao, Ms Nilda Almencion, First Board Member, Second District of South Cotabato, and Andrew Alcid, CLB’s Independent Director, as well as other VIPs from both the business and government sector of General Santos City, marking another milestone in the bank’s continuing growth and commitment to community-based development.

Cebuana Lhuillier Bank warmly invites the residents of General Santos City to visit the new branch at J. Catolico Sr. Ave., Lagao, General Santos City and experience the bank’s trusted financial services, aimed at empowering individuals and businesses alike.

DITO Telecommunity is Once Again the Rated #1 Mobile Network in the Philippines!

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DITO once again won the Rated #1 Mobile Network in the Philippines, making it the first telco in the country to achieve back-to-back wins for this category. 

DITO garnered a total score of 3.7 based on the data collected by Ookla® Speedtest Intelligence® from Q1-Q2 2024, highlighting the company’s constant commitment to providing technological innovations and top-notch customer service experience. This recognition is also a validation of the loyalty and trust of DITO subscribers nationwide.

In 2023, DITO also won the Rated # 1 Mobile Network in the Philippines and celebrated its win early this year by launching “DITO SA PUSO KO” featuring Philippines’ power couple Dingdong Dantes and Marian Rivera. This campaign celebrated the love, trust, and satisfaction that millions of subscribers bestowed to the young telco. 

How does Ookla determine the Rated #1 Mobile Network? 

At the end of a performance test on Speedtest.net/Speedtest App, users rated telco providers at the “Rate your provider” from one to five stars. All local telcos are represented in Speedtest Intelligence data, with significant volumes of tests nationwide. It comprised millions of consumer-initiated tests performed on web and mobile Speedtest platforms.
The back-to-back recognition of being the  #1 Rated Mobile Network is a testament to DITO’s unwavering commitment to delivering excellent services to every Filipino. For more details about DITO, check out @DITOphofficial on Facebook, Instagram, and Tiktok or visit https://dito.ph/.


About DITO Telecommunity

DITO Telecommunity Corporation, is the newest major telecommunications provider in the Philippines after it was awarded a Certificate of Public Convenience and Necessity by the National Telecommunications Commission in 2019.

DITO commits to provide world class, fast, affordable, and secure telecommunications services that endeavors to connect and empower Filipino communities wherever they may be and aims to see a day where data access is no longer a privilege, but a right for everyone.

DITO is a Filipino company and is a consortium that includes Udenna Corporation and China Telecommunications Corporation.

DITO Telecommunity Links:

Facebook: https://www.facebook.com/DITOphofficial

Instagram: @ditophofficial

Twitter: @DITOphofficial

Tiktok: @ditophofficial

Viber: @ditophofficial

Filinvest Land Tops Off Building 7 in 8 Spatial, Davao

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L to R: Alan Barquilla, Vice President - Regional Sales Development Head; Mrs. Gloria Maria D. Coronel, JV Partner; Mr. Edward Thomas V. Bernas, Senior Vice President & Assistant Residential Business Unit Head; Mrs. Maria Loreto A. Lopez, JV Parnter; and Ms. Sharon M. Luntao, Vice President - Regional General Manager for Mindanao.

Full-range property developer Filinvest Land, Inc. (FLI) recently finished the structural framework of 8 Spatial’s Building 7 in Davao City. With this milestone, the refreshing condo community will soon be ready to fulfill more dream homes in the heart of the city.

Launched on April 2024, this latest building is already at 65% completion. The project development team states that they are steadily on track to deliver the building on schedule. Indeed, all hands are on deck to offer more units in 8 Spatial as soon as possible.

“With only one remaining building to be constructed, we are getting closer and closer to the fulfillment of our vision for 8 Spatial. As it nears its completion, we continue to uphold our mission of contributing to the growth of Davao City by fulfilling more Filipino dreams,” FLI Senior Vice President – Assistant Residential Business Unit Head Edward Thomas V. Bernas further said.

This mid-rise enclave in the heart of Davao City is the ideal choice for home-seekers looking for a convenient and comfortable space to build their future. Situated along Ma-a Road, 8 Spatial is near malls, schools, hospitals, and other essential destinations, putting daily and lifestyle needs within easy reach. Its prime location also has excellent potential for property values to increase over time, creating a future-proofed investment.

Building 7 features 12 residential floors, twice the number of storeys of the community’s already established buildings. Its modern minimalist design is thoughtfully laid out to create an atmosphere of balance and harmony set amid pockets of greenery.

8 Spatial features a range of healthy leisure amenities for residents to create lasting memories with loved ones. This includes a 2-storey multi-purpose clubhouse with swimming pool, spacious courtyards, a fitness gym, a music room, a playground area, and a basketball court. With its many venues for relaxation and recreation, this vibrant neighborhood is the ideal place to call home.

Units in 8 Spatial are built with embedded beams and columns, opening up more space for comfort and connectivity. Buyers can choose from a cozy studio unit, a 1-bedroom unit with flexible spaces, or a more spacious 2-bedroom unit.

During the topping-off ceremony, the 8 Spatial team also received praise from their JV Partner, Gloria Maria D. Coronel, who stated that despite the recent earthquakes in Davao, Filinvest Land has been doing well with their structurally sound buildings.

As a builder of Filipino dreams for over 60 years, FLI stays committed to providing quality, excellence, and sustainability in every project it develops. From residential subdivisions to condo communities, the company ensures a safe and secure environment for families and individuals alike to achieve peace of mind in a home of their own.

Complete with value-for-money units, healthy leisure amenities, breathable environs, and 24/7 security, 8 Spatial has everything on a homeowner’s wish list, including a rewarding investment. With Building 7 nearing completion, a brighter and better future awaits more Davaoeños.

To know more about this thriving community, interested parties can contact (0917) 545-7788 / (0919) 076-4758 or visit the project website: https://futurabyfilinvest.com/project/8-spatial-davao for inquiries.


About Filinvest Land  

Filinvest Land, Inc. (FLI), a subsidiary of Filinvest Development Corporation (FDC), is one of the country’s leading and multi-awarded full-range property developers. It is listed on the Philippine Stock Exchange under the trading symbol $FLI. Staying true to its mission, FLI continues to build the Filipino dream across the Philippines.  

For over 60 years, FLI has built a diverse project portfolio spanning the archipelago, from its core best-value homes to residential townships, mid- and high-rise condominiums, office buildings, shopping centers, industrial parks, co-living properties, and leisure developments.   

These include the large-scale townships: Havila (306 hectares), Timberland Heights (677 hectares), and Manna East (60 hectares) in Rizal; Ciudad de Calamba (350 hectares) in Laguna; Palm Estates (51 hectares) in Talisay City, Negros Occidental; and City di Mare, the Lifestyle Capital of Cebu (50 hectares).  

FLI owns 20% of Filinvest Alabang, Inc., developer of Filinvest City (244 hectares), South Metro Manila’s premier garden central business district and home to Festival Mall, the flagship Filinvest Mall in Alabang. FLI is also developing two townships in the Clark Freeport Special Economic Zone: the industrial Filinvest Innovation Park-New Clark City (288 hectares) and Filinvest Mimosa+ Leisure City (201 hectares), the former in partnership with BCDA, and the latter in partnership with FDC. 


Hino GenSan Delivers 20 Modern Jeepneys to ALJODTSCO

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GENERAL SANTOS CITY — On July 3, 2024, Hino General Santos, managed by Motormall Davao Corporation, handed over 20 new Hino jeepneys to the Apopong-Lagao Jeepney Operators and Drivers Transport Service Cooperative (ALJODTSCO). This event highlights a major step in the Department of Transportation’s (DOTr) Public Utility Vehicle Modernization Program (PUMP).

ALJODTSCO Chairman Mila Eugenio expressed excitement about the new fleet, noting, “These modern jeepneys will provide smoother, safer, and more comfortable rides for our commuters.” She also urged the public to report any driver misconduct to maintain high service standards.

Pepito Castro, VP for Sales of Motormall Davao, highlighted the new jeepneys for being lighter, more spacious, and more efficient than traditional models. “These improvements will boost our commuters’ comfort and safety,” Castro said.

The PUMP, launched in 2017, aims to replace outdated public utility vehicles with safer, eco-friendly options. The success of this initiative was supported by the Land Bank of the Philippines for down payment assistance and the Land Transportation Franchising and Regulatory Board (LTFRB) for route planning.

Hino General Santos managed the documentation, financing, and after-sales support for this project, marking a significant advancement in the modernization of the public transportation system in the Philippines.

First Metro names Anthony Ocampo as new President

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(FMIC President Anthony Ocampo)

First Metro Investment Corporation (FIRST METRO) has named Antonio R. Ocampo, Jr. as its new president and director starting July 1, 2024. 

He succeeds Mr. Jose Patricio A. Dumlao who retired from the company on June 30, 2024 after serving for four years.

Mr. Ocampo is one of the key leaders in the Metrobank Group who brings over 30 years of extensive experience in corporate and investment banking to FIRST METRO. Prior to joining the investment banking arm of the Metrobank Group, he served as the President and Director of ORIX METRO Leasing and Finance Corp., ORIX Rental Corp., and ORIX Auto Leasing Philippines Corp. He also led Metrobank’s Corporate Banking Group.

Before joining the Metrobank Group, he led the Global Network Banking under the Corporate and Investment Bank Group of Deutsche Bank AG. He also held various relationship management roles at Deutsche Bank AG, International Exchange Bank, and Equitable PCI Bank.

First Metro Chairman Mary Mylene Caparas stressed that Mr. Ocampo will play a key role in FIRST METRO’s growth prospects that will bring long-term value to the company.

“We are delighted to welcome Anthony Ocampo at FIRST METRO. With Anthony’s extensive experience in investment and corporate banking and deep understanding of relationship management, we are confident that he can steer the company to achieve sustained growth and develop robust relationships with our clients,” said Ms. Caparas.

In 2023, FIRST METRO demonstrated resilience and further solidified its market share by helping facilitate various capital market deals and maintaining its position as one of the country’s most recognized arrangers and underwriters for both corporate and government bond issuances.


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