2018 ANNUAL REPORT

THE FUTURE
MADE POSSIBLE
BUILDING A
SUCCESS-DRIVEN FUTURE
Having the drive and dedication to exceed
goals and expectations.

BANKING WITH INTEGRITY

Adhering to strong moral principles
in all circumstances.

TRANSFORMING THE WORK PLACE

Teamwork, working together effectively, combining
our individual strengths, toward common goals.

ADVOCATING SUSTAINABILITY
Caring for our stakeholders’ social,
economic and environmental development.

VISION MISSION*
To be the country’s premiere financial
conglomerate, empowering our individual
and business clients to realize their goals
and reach their full potential. By creating and
customizing financial solutions in response
to our stakeholders’ needs, continuously
expanding our scope of reach, and leading in
community service, we live up to our “You’re
in Good Hands” promise that embodies who
we are and what we do. We are Metrobank.
*The Vision Mission Statement (VMS)
was approved by the Board in December 2016
WE COMMIT TO BE
THE TRUSTED FINANCIAL PARTNER
Our business relies on the principles of
trust, honesty and integrity as we serve
our customers and help them attain their
financial goals.
THE EMPLOYER OF CHOICE
We strengthen the organization by
continuously developing and enhancing the
abilities of our people.
We nurture them into professional individuals
with integrity and passion for service and
excellence. We ensure their future by
providing them with fulfilling careers.
RESPONSIBLE BANK
We adhere to the highest standards
of corporate governance, exercising
accountability, fairness, and transparency
across all our business operations.
We exercise good management to provide
our shareholders with sustainable returns on
their investments.
AN INSTITUTION WITH A HEART
We give back to the communities we
serve, committed to making meaningful
contributions to the economic and social
development of our nation.
Metrobank’s code of conduct is anchored upon 5 core values: Passion for
Results, Integrity, Teamwork, Commitment to Customer
Service, and Heart for Community. In the words of our President “These 5
core values that form the acronym PITCH are what define us as Metrobankers.”
Probably the best expression of PITCH is the I Am A Metrobanker Pledge. At
the start of each working day, Metrobankers recite this commitment with remarkable
zeal for these are not merely words for us. As how our President succinctly puts it, “It
is not enough that we know and understand what PITCH is. It is only thru living these values
every day that we become worthy of the trust given to us, the good hands of Metrobank.”
As you go through the pages of this report, you will bear witness to the 2018
Metrobank story, and at the same time you will see how we utilized our values as a
tool in intricately crafting this narrative.
I AM PASSIONATE FOR RESULTS. I act everyday to exceed
expectations and make meaningful impact.
2018 is a year full of firsts for the bank, given the numerous deals and awards we
had, and most notably, our outstanding year-ender performance. These feats are
acknowledged in the Chairman’s Message & President’s Report.
I AM A PERSON OF INTEGRITY. I always choose to do the
right thing and I act when I see wrongdoing.
The Corporate Governance section proves that everything we do is within the bounds
of integrity, accountability, and transparency.
I AM A CHAMPION OF TEAMWORK. I encourage and help
my fellow Metrobankers, we create an inspiring place to work
together.
Through our employee engagement activities and training initiatives, we develop and
nurture the welfare of our people and at the same time, strengthen our organization.
I AM COMMITTED TO CUSTOMER SERVICE. I truly care for
the people we serve and keep them at the heart of all we do.
In this report, we will be featuring Metrobank products and services that echo
our commitment to being the best service provider to you, our customers. These
symbolize our partnership in growing your business and in fulfilling your big dreams.
I AM AN ADVOCATE OF HEART FOR COMMUNITY. I believe
that it is not enough to make a living, I need to help make lives
better.
For the past years, we have been consistent in fulfilling our corporate social
responsibility through the Metrobank Foundation.
“In the last 56 years, there has been no shortage of stories of good hands doing great
deeds.” We proudly share with you these milestones and successes. All these would
not be possible without your trust and confidence in our institution. This 2018
Annual Report is the compilation of our proud moments and multiple firsts with you
which prove that we have indeed made your future possible by staying grounded on
our values.
This is who we are. And this is how we live up to the promise of being
the good hands of Metrobank.
1
CHAIRMAN’S REPORT
OUR CORE VALUES SERVE
AS AN ANCHOR ON WHAT’S
IMPORTANT IN KEEPING
OUR CUSTOMERS HAPPY
AND OUR EMPLOYEES
ENGAGED, TO ENSURE
THE SUSTAINABILITY OF
OUR BUSINESS , AND TO
CONTRIBUTE TO NATION-
BUILDING.
- Arthur Ty
WE MAKE
THE
FUTURE
POSSIBLE
Dear fellow shareholders,
2018 was a year characterized
by many uncertainties, from
geopolitical events, financial
stress in the developed and
emerging economies, and
market volatilities. In the past
two decades, quantitative easing
and lower interest rates around
the globe allowed economies
to grow aggressively, which in
turn allowed our business to
thrive. But in 2018, the world
economy turned the corner,
with most countries moving to
a tighter monetary policy and
raising interest rates. Seismic
shifts that paved the way for the
new normal.
Even then, the Philippine
economy grew by 6.2 %, still
among the fastest-growing in
Asia. Against this backdrop,
Metrobank stayed resilient,
reporting strong earnings
growth for the year driven
mainly by our core business.
Looking ahead, we can expect
a continuation of these
unexpected risks and volatilities,
evolving customer needs and
advancements in technology
that will impact us and our
customers like never before.
Likewise, investors worry about
the impact of rising rates to
the economy, which in turn
will affect lending activities, and
draw the spotlight on asset
quality.
Despite all that, we also
recognize that 2019 presents
a lot of growth opportunities.
We can expect positive
stimulus from robust consumer
spending, stronger government
expenditures on infrastructure
projects, and steady private
sector investments to expand
and invest for the long-term.
The Metrobank Group
continues to hold a
leading position in this
growing economy.
So how do we move forward
and take advantage of this
potential?
3
THE FUTURE MADE POSSIBLE
analytics can lead to efficiency;
improve cross selling, targeted
marketing, and dynamic
decision-making.
In this digital society, customer
behavior constantly evolves
including expectations for
seamless Omni channel
experience. Financial disruptors
will remain a threat. The
added complication is to make
digital experience safe and
transparent, while treating
customer information with
utmost privacy. By embracing
this new world order, we keep
our hopes to stay in the game
and remain relevant to our
customers. These are some of
our considerations as we create
and reshape our digitalization
strategy.
Let me now take this
To make the future possible
opportunity to thank all our
employees for your hard
today, the journey starts with
work and contributions in
our people. To continuously
the past year. I am proud
reinvigorate their spirit, we
of all Metrobankers who
launched an internal campaign
worked together effectively by
highlighting the importance of
combining individual strengths
our core values: Passion for
results, Integrity, Teamwork,
to reach common goals. The
drive and passion to achieve
Commitment to customer
service, and Heart for the
targets without compromising
integrity and quality is a
community or PITCH as we
simply call it.
hallmark of this institution.
These principles, applied in
To our Board of Directors,
thank you for your guidance and
everyday activities, serve as an
anchor on what’s important in
insights, and to the management
team, for your unceasing
keeping our customers happy
dedication.
and our employees engaged, to
ensure the sustainability of our
Finally, my sincerest gratitude
business, and to contribute to
to our loyal customers,
nation-building. The effects can
partners, and investors – your
be wide-ranging and compelling.
unwavering support inspires us
We also recognize the need
to strive and make the future
possible today.
to drive business through
digital innovation. The pace of
digital change is so rapid that
banks have come to realize
how investments in digital
technologies can be a key
differentiator for customer
ARTHUR TY
experience. In addition, over
Chairman
time the use of data-driven
PRESIDENT’S REPORT
TURNING
VISION INTO
REALITY
The Philippines continued on
its growth momentum in a year
marked by many challenges.
The Philippine economy grew
6.2% in 2018 on the back of
resilient consumer spending,
solid government spending,
and robust investment growth,
making the country still one of
Southeast Asia’s fastest growing
economies.
Across the globe, significant
risk events like concerns over
a slowing global economy, US
Fed rate hikes, and geopolitical
tensions hounded the
investment climate and markets
swung unpredictably. Emerging
market currencies depreciated
against the US dollar as
investors moved their funds
back to developed economies
amidst the volatilities.
Meanwhile, the Bangko Sentral
ng Pilipinas (BSP) raised interest
rates to temper growing
inflation concerns and stem
the depreciation of the local
currency against the greenback.
Inflation peaked at 6.7% in
October, the highest in over
10 years, prompting the BSP
to raise policy rates five times
by 175 basis points to arrest
second-round effects.
Against this backdrop, the
Philippine banking industry
continued to thrive, as demand
for loans expanded double-digit
while deposits likewise grew,
albeit at a slower pace.
Your bank sustained
its growth story in
2018, highlighting our
resilience in a very
challenging environment.
Net income grew by a robust
21% year-on-year to P22.0
billion, the fastest growth
posted among the top players
in the industry. This was driven
by healthy growth in loans
complemented by margin
expansion, higher fee-based
income, and manageable
expense growth.
4
THE FUTURE MADE POSSIBLE
AS WE GEAR UP FOR
THE FUTURE, WE
REMAIN COMMITTED
TO GOOD GOVERNANCE,
TRANSPARENCY, AND
For 2018, Metrobank’s loan DELIVERING SUSTAINABLE
portfolio grew at a modest
pace of 10%, while deposits RETURNS TO OUR
inched up 2% year-on-year.
Low-cost deposits continued SHAREHOLDERS.
to comprise the majority
of the deposit base at 62%.
Combined with margin - Fabian S. Dee
expansion, this led to a 12%
growth in net interest income
to P68.8 billion, which now
accounts for 74% of the bank’s
total revenues. For the full year,
net interest margin expanded
to 3.82%, still the highest among
peer banks.
On the other hand, non-interest
income grew to P23.8 billion
with the strong performance
in service charges, fees and
commissions. Fee-related
revenues were boosted by
steady customer-driven flows
and trade-related commissions.
In addition, net trading and FX
gains contributed P2.8 billion
while other income was at P7.0
billion including share in net
income of affiliates and joint
venture.
PRESIDENT’S REPORT
Operating expenses, excluding
taxes and licenses, increased
Looking back, your at a slower pace of 10% to
P44.9 billion. Manpower-related
costs grew by 11% to P22.4
bank continued
billion, while the balance was
spent in support of the bank’s
continuous systems and process
to grow at a time
improvement efforts.
Our branch network was
largely steady at 957, in line
of volatility both with our strategy of optimizing
technology and gradually shifting
towards e-channels. We believe
globally and locally.
that our existing network is
strategically located across the
country, with the majority in the
The discipline and
provinces and in high growth
areas. Overall, we are focused
on efficiency gains through
better productivity, innovations,
dedication of our
and digital transformation.
Asset quality metrics remained
employees, the bank’s
largely benign even with the
consistent strong loan growth
seen in recent years. Non-
best asset, enabled
performing loans ratio stood
at 1.2%, while NPL coverage
hovered at 105% by yearend.
us to achieve our
By all accounts, it was a
milestone year for your bank.
Total resources reached a new
commitments to our
all-time high of P2.2 trillion,
while total equity at P283.0
billion. Capital ratios were
stakeholders.
comfortably above regulatory
requirements, with total capital
adequacy ratio at 17.0% and
Common Equity Tier 1 ratio at
14.6%.
6 7
Metrobank’s P60 billion stock
rights offering in April and
bond issuances in the fourth
quarter were all landmark
transactions, and were largely
oversubscribed, once again
proving the strength of the
Metrobank franchise.
This strong performance flowed
through its subsidiaries.
Philippine Savings Bank
(PSBank), the thrift-banking
arm of the Metrobank Group,
registered a net income of P2.7
billion in 2018, translating to a
return on equity of 11.4%. Total
gross loans grew by 7% year-on-
year to P157 billion, while total
deposits went up 6% to P201
billion. PSBank continuously
showed improvement in
operating efficiencies while
delivering on its commitment
to provide simple and reliable
banking services coupled with
excellent customer service
through a culture of innovation.
PSBank’s footpint spans 250
branches and 575 ATMs
nationwide.
Metrobank Card Corporation
(MCC) kept its leadership in
the credit card market, ranking
second in terms of receivables
and third in total number
of cards-in-force, based on
data from the Credit Card
Association of the Philippines
(CCAP). MCC reported strong
growth in 2018, with return on
equity at 34.9%. Total assets
expanded by 10.4% to P82
billion. In September 2018,
MCC became a wholly-owned
subsidiary of Metrobank.
AXA Philippines (AXA), the
group’s insurance arm, has
established close to a hundred
branches nationwide and has
installed more than 800 AXA
Advisory corners in Metrobank
and PSBank branches. AXA
ended 2018 with P3.0 billion
in net income, and some
1.3 million customers with
various individual and group
life insurance, as well as general
insurance products through
its non-life subsidiary, Charter
Ping An Insurance Corporation
(CPAIC). 2018 also marked
the first time that CPAIC
started operating under the
AXA Philippines brand name.
First Metro Investment
Corporation (FMIC) maintained
its strong standing in the
investment banking community.
FMIC led and participated
in various debt and equity
raising deals in 2018, ending
the year with P503 million in
net income. The Company
continued to reap various local
and international recognitions,
including Best Equity and Best
M&A House awarded by Alpha
Southeast Asia.
ORIX METRO’s total new
bookings amounted to P34.9
billion in 2018. Net income was
reported at P1.3 billion, while
return on equity hit 17.5%.
The Company ended the year
with 103 branches, about 90%
of which are located outside
Metro Manila. ORIX METRO
intends to widen its footprint
in the countryside, catering
to small and medium-sized
THE FUTURE MADE POSSIBLE
enterprises (SMEs) in the rural Looking back, your bank
areas where business growth continued to grow at a time
and returns can be more of volatility both globally and
attractive. locally. The discipline and
dedication of our employees,
the bank’s best asset, enabled
Going forward,
us to achieve our commitments
Metrobank’s focus will to our stakeholders. With
that, I would also like to
continue on improving
thank our clients, partners,
customer experience, and stakeholders for your
unwavering support and trust in
operational efficiency, Metrobank. Rest assured, you
and people development.
While there are many
can always count on us to stay
true to our promise of keeping
you in good hands.
challenges in the horizon, we
are optimistic about the growth
prospects for 2019 given our
country’s stable economic
fundamentals. The continuous
increases in government and
investment spending should FABIAN S. DEE
keep domestic economic President
growth above the 6% level. The
government’s infrastructure
program will help sustain the
economic expansion, with
the elections slated in May
2019 providing the added
boost to growth. Furthermore,
consumption spending
is expected to be higher
compared to last year amid the
sustained easing in inflation.
We see competition in the
banking industry to persist as
lenders compete for deposits
and alternative funding sources.
Lending activities will likely not
grow as fast as in previous years,
with banks’ loan-to-deposit
ratios hovering above 80%.
Signals of a reduction in reserve
requirement, however, can help
unlock liquidity and pump prime
the domestic economy.
 THE FUTURE MADE POSSIBLE

BUILDING
A SUCCESS-DRIVEN
FUTURE
Metrobank’s push for a success-driven future brought us historic milestones in 2018.
Our various fund raising activities this year will sustain the continuing expansion
of our loan portfolio, support the bank’s capital expenditures programs, and provide
capital to take advantage of any growth opportunities.
We successfully completed the biggest capital raising exercise in our bank’s history with the P60 billion
rights issuance in April 2018. The stock rights offer received strong support from a broad spectrum of
investors showing a vote of confidence on the bank’s overall strategy and prospects.

Passion for Results

We pivoted to the future and made it a reality. You are, as always, in good hands.
This is how we make the future possible. Having the drive and dedication to exceed goals and
expectations and by continuously aiming for growth, we deliver only the best results.

8 9

In 2018, Metrobank
achieved a first for
Philippine lenders as
we issued and listed the
first ever bank-issued
bonds under a newly
implemented set of
guidelines by the Bangko
Sentral ng Pilipinas. The
P10 billion fixed rate Peso-
denominated bonds listed
on the Philippine Dealing
& Exchange Corp. (PDEx)
bourse also marked
the first corporate bond
listing under PDEx’ new
trading system provided
by Bloomberg, the
Bloomberg FIQ Trading
System.
To diversify its funding sources,
the bank also issued one of the
biggest long-term negotiable
certificates of deposits
(LTNCD), raising P8.68 billion
and drew over 6,000 retail
investors in a widely participated
and successful exercise.
10
We help foster financial
inclusion among Filipinos
through the various deposit
and investment products we
offer such as these LTNCDs
and bonds. While these
products are open to both
institutional and retail investors,
these product offerings gave
access to a broader spectrum
of investors, providing various
investment options especially
to the retail segment and in the
process help them achieve their
financial aspirations.
Beyond the bank’s fundraising
activities, we supported
the Philippine government
to fund its infrastructure
projects and public spending.
Metrobank participated in
the government’s maiden
issuance of Panda bonds, the
renminbi-denominated debt
sold in China by a foreign issuer.
Metrobank was the lone major
Philippine lender to support the
government’s historic issuance.
Defying Limits
Our credit card business has
remained one of the leading
payment solutions in the
Philippines, the second biggest
player in terms of receivables
and third in total number of
cards in force. In September
2018, Metrobank Card
Corporation (MCC) became
a wholly-owned subsidiary
of Metrobank with the full
acquisition of the remaining
20% stake from its previous
partner.
This development supports
Metrobank’s growth strategy to
maximize operational efficiencies
between the Parent Bank and
MCC, opening opportunities to
collaborate and improve synergy
while remaining fully committed
to deliver superior products and
services to its customers.
Metrobank’s full ownership
will help provide additional
revenues and access to new
customers in the consumer
segment. Our cards bring
increased spending power
and worldwide purchasing
convenience for our users. We
seek to provide the best cards
and payment solutions that suit
our customers’ lifestyle.
Partnering for Progress
Metrobank financed the
expansion plans of major
Philippine companies, which
in turn sponsor projects that
help fuel the growth of the
broader economy. Through
11
these partnerships, we fortified
our relationships with corporate
clients and the enterprises that
benefit from their support.
Notable large corporate deals
include the P11 billion bilateral
term loan facility for the
Philippines’ oldest conglomerate.
The facility will be used for
the conglomerate’s diversified
interests in power, infrastructure
networks and services, water,
industrial technologies, education,
healthcare and international
operations. Metrobank has
consistently partnered with the
company and its subsidiaries for
their capital expenditure and
THE FUTURE MADE POSSIBLE
equity financing requirements.
This allows the bank to
participate in the promotion of
sustainable business practices
and the broadening of economic
inclusivity.
Metrobank also extended a
P2.5 billion, five-year term
loan to the local arm of a
multinational company for its
expansion initiatives. It was a
follow-on transaction from five
years ago when Metrobank
extended a loan facility to fund
the construction of one of the
country’s biggest manufacturing
plants in Batangas.

Metrobank is a financial solutions provider, which offers a wide
range of financial products and services to cater to the varying
needs of different client segments.
Institutional Banking Segment
Metrobank provides corporate
and commercial banking
products and services to a
significant number of large and
middle market corporations
and their subsidiaries, as well
as to SMEs in the Philippines,
through a multi-channel
distribution system, including its
extensive branch network. The
Bank believes it is the leading
bank in the Philippines for
middle-market Filipino-Chinese
businesses in terms of deposit-
taking and lending.
The Bank offers both Peso-
denominated and foreign
currency (primarily U.S.
Dollar-denominated) loans to
its corporate and commercial
banking customers. It is the
Bank’s policy to extend foreign
currency loans primarily to
customers who have foreign
currency revenues or who are
otherwise hedged.
In addition to term loans
and revolving credit facilities,
the Bank also offers deposit
products, bills purchase facilities,
payment remittances, and
foreign exchange transactions,
as well as a range of trade
finance products and services
including letters of credit
(LCs), standby LCs, export
advances and the discounting of
commercial bills.
Dedicated teams focused on
product development, sales,
implementation and customer
care ensure the seamless set-
up of the client’s collections,
payment and liquidity solutions.
By doing so, the Bank is able to
capture the operating accounts
of its key clients, as well as that
of its client’s own customers
and suppliers.
• Corporate Banking
• Commercial Banking
• SME Banking
• Institutional Transaction
Banking
Financial Markets Segment
Treasury Group is focused
on servicing customer
requirements through the
sales and trading of global
markets products as well as
providing support for the
core banking business through
asset and liability management.
Treasury derives its revenue
primarily from fixed income,
foreign exchange, derivatives
and interest rate differential
activities. The customers of the
Bank’s Treasury Group include
domestic and offshore banks,
insurance companies, financial
institutions, corporations, SMEs,
high net worth individuals and
retail companies.
Markets Sales Group handles
all financial markets dealings
of the Bank’s different
customer segments. It is
comprised of licensed
sales traders, investment
specialists, structurers and
securities brokers. Revenues
are generated from fees and
spreads from fixed income,
foreign exchange, derivatives,
funds, structured products and
other alternative investments.
Private Wealth Division covers
high net worth clients who
generally have a higher level of
assets under management, and
provides portfolio management,
investment advice, insurance,
wealth and tax planning through
various product providers to its
customer base.
Institutional Investors Coverage
Division is the relationship
management unit for the
segment’s institutional investor
client base, and has successfully
established new-to-bank
relationships with foreign
institutions which invest in
12
local currency fixed income
instruments.
• Treasury
• Markets Sales
• Private Wealth
• Institutional Investors
Coverage
Retail Customer Segment
The Bank’s branch banking
business offers a wide range
of products and services from
demand deposit accounts, savings
and time deposits to lending
facilities. In addition, dedicated
trade finance and foreign
exchange facilities are offered
at certain branches where such
services may be required.
Consumer banking services
are provided through the Bank,
PSBank and Metrobank Card
Corporation. The Group’s
principal consumer banking
products and services include
bank deposits, home mortgage
loans, vehicle finance and
consumer finance, including
credit cards, and remittances.
The international branches of
the Bank, together with those of
its subsidiaries and its associates
which act as remittance centers,
are geared towards the handling
of remittances to the Philippines,
as well as supporting the trade
and capital flows of the country.
Remittances are now being
distributed in the Philippines
not only through the Group’s
957-strong domestic branches
and 2,372 ATMs nationwide,
but also through its local
remittance payout partners,
such as pawnshops, extending
its remittance services outside
normal banking hours.
• Branch Banking
• Consumer Lending
• Remittances
AWARDS
Institutional Banking Sector
• Awards : The Asset Triple A Treasury, Trade, Supply
Chain and Risk Management Awards: Best Service
Provider – Supply Chain – Rising Star
• 2 Major Deals : PHP 2.5 Billion Bilateral Loan with
Pepsi and PHP11.0 Billion MBTC-Ayala Bilateral Loan
Financial Markets Sector
Treasury Group
• 2018 Philippine Dealing System Annual Awards Night
o Cesar E.A. Virata Award - Best Securities
House for 2017 Bank Category
o Top Dealing Participant (Corporate Securities)
o Top 5 Spot Foreign Exchange Dealer
(Rank 2nd)
o Most Active Bank in FX Spot Matching
o Top Brokering Participant for Retail
Transactions
• The Asset Benchmark Research Awards
o Top Sellside firm in Corporate Bonds – Rank 1
o Top Sellside firm in Government Bonds –
Rank 3
o Top Investment House – Rank 3
• Fund Managers Association of the Philippines (FMAP)
o Best Fixed Income House – Rank 2
o Best Fixed Income Trader Local Currency –
Rank 2
o Best Fixed Income Trader Foreign Currency –
Rank 2
o Best Fixed Income Salesperson – Rank 2
o Best Fixed Income Strategist – Rank 2
• The Bureau of The Treasury (BTr)
o GSED Market Maker
• The Asian Banker Transaction Awards 2018
o The Best Foreign Exchange Bank in the
Philippines
13
THE FUTURE MADE POSSIBLE
DEALS
Bonds and LTNCD Issuances
1) Landmark issuance of PHP 8.68 Billion LTNCTD due
2024
2) Trailblazing issuance of PHP 10 Billion 2-year MBTC
Peso Bond due 2020
3) Successful Reissuance of PHP 18 Billion 2-year MBTC
Peso Bond due 2020
4) Participated in the ROP Panda Bond Issuance --
Maiden issue of the Philippine government in the
China (The only major Philippine bank to support the
government issuance)
NOTABLE PRODUCTS
LAUNCHED in 2018
Trust Banking Group
• Launch of Dollar-denominated Unit Investment Trust
Funds: Metro$ S&P 500 Feeder Fund, Metro$ MSCI
Eurozone Feeder Fund, Metro$ MSCI Japan Feeder
Fund, Metro$ US Investment Grade Corporate Bond
Feeder Fund
• Completed the short-term dollar options through
the availability of the Metro$ Money Market Fund
and Metro$ Short Term Fund
Retail Banking Sector
• Cardless Withdrawal allows you to withdraw cash
from any Metrobank or PSBank ATM without using
your Metrobank ATM Card.
• Implemented the following products via Mobile
Banking:
o InstaPay is an electronic fund transfer (EFT)
service that allows customers to transfer
funds almost instantly between accounts of
banks supervised by the BSP and non-bank
e-money issuers in the Philippines. The service
is available 24x7, all year round.
o PesoNet is a batch electronic fund transfer
system, which is the first Automated Clearing
House (ACH) under the National Retail
Payment System (NRPS) of the BSP. The
fund transfer and/or payment instructions will
be processed in bulk and cleared at batch
intervals.
 EMPOWERING
PROGRESSIVE
FILIPINOS
Metrobank is a reliable
partner in promoting
nation-building, fully
committed to invest in a
progressive and inclusive
future for Filipinos.
We take pride in our
initiatives to support the
capital requirements of new
and promising businesses.
Throughout the year, we
conduct awareness campaigns
such as Kapihan sessions, to
reach out to the SME market
and provide financial advice to
both existing and new-to-bank
customers. As we help them
build their credit history and
credibility, it opens avenues
for these SMEs to reach
investors and access capital, and
eventually contribute to overall
economic growth.
To provide better banking
experience to our customers,
we have taken several steps
in improving our different
touchpoints.
At our branches, bank forms
have been automated for faster
opening of additional accounts
by existing customers. Branch
processes are continuously
reviewed and streamlined
to reduce queuing time and
improve customer experience.
The same continuous
enhancements are being done
for our electronic channels,
such as ATMs and Cash Accept
Machines (CAM). Likewise, we
have invested in our internet
and mobile banking platforms,
constantly looking to innovate
our systems and provide
customers with various channel
options to suit their needs.
The Bank is now 100% EMV-
compliant for its issued cards
and ATMs, reducing potential
risk incidents for account
compromise or fraud among
cardholders.
All these efforts work towards
the continuing drive to
understand customer needs,
provide the appropriate solutions
to address them, and help clients
drive their business forward.

COMMITMENT TO CUSTOMER SERVICE

As an institution built on the values of service and excellence, we put our customers
at the heart of the business.
We strive to be the best service provider to our clients by diligently knowing them and
providing the appropriate solutions that will attend to their needs. This is reflected in the
products, services, and overall customer experience we offer.

14 15

PUTTING THE
CUSTOMER
FIRST ALWAYS
In Metrobank, customer
protection and overall
experience is a collective
and shared responsibility
of everyone, from the
Bank’s Board of Directors,
to Management, and to
all employees. It is part of
Metrobank’s culture and is being
reinforced by the Customer
Protection Training Program.
Key entities have been
identified who will be ultimately
responsible for the overall
strategy and oversight of
the Bank’s desired customer
experience.
Board of Directors (BOD)
President
Enterprise Services Sector (ESS)
Service Excellence Group
The Board of Directors
(BOD), through the Executive
Committee (ExCom), provides
the effective oversight of the
Bank’s Financial Customer
Protection program and
implementation in accordance
to BSP Circular 857.
The Senior Management,
together with the Customer
Experience Committee
(CXCom) are responsible
for the development and
maintenance of the Bank’s
sound Customer Protection
Risk Management System which
is integrated into the overall
framework of its entire product
and service life cycle, which
includes oversight function in
the execution of CX projects.
The Service Excellence
Group works with business
and operational units to
achieve excellent customer
experience through Voice
of the Customer Program,
process efficiency initiatives,
performance monitoring on
Executive Committee (ExCom)
Customer Experience Committe
(CXCom)
key customer metrics, effective
organization structure and skills
development.
The Bank’s Customer
Protection Program follows
the set standards which are
reflected in its core principles
– inherent into the Metrobank
corporate culture, enhancing
further its defined governance
framework while addressing
conflicts that are inimical to the
interests of its customers.
Effective Recourse /
Handling of Customer
Concerns
A critical component of the
Bank’s Customer Protection
Program is providing its
customers accessible and
hassle free channels with
which they could communicate
their inquiries, concerns and
feedback. These are in the
form of 24/7 Contact Center
which handles calls and e-mails,
Social Media (Facebook),
MetrobankDirect Online and
Mobile Banking.
Furthermore, the Bank has
implemented the Customer
Incident Management Policy
and System, which standardized
the handling of customer
complaints to ensure that
these are addressed within a
set turnaround time through
centralized logging and
monitoring. With this, the
Bank is able to gain valuable
customer insights, identify trends
and address recurring incidents,
improve its products and
services for better customer
experience.
In 2018, total complaints
increased by 19% which is
in line with the increase in
transaction volumes.
Total Complaints
Complaints to Transaction Ratio
16
Despite the increase in the
number of complaints received,
the Bank has managed to
improve its performance in
2018 vs. 2017 in terms of
investigating and providing
resolution to the complaints
within the Bank’s committed
turnaround time
Better Customer
Experience (CX) at
Touchpoints
Several initiatives were
taken to provide better
banking experience of our
customers through its different
touchpoints.
At the branches, automation
of forms has allowed for faster
opening of additional accounts
by existing customers. Processes
at the branch are continuously
being streamlined to be able
to lessen waiting time of the
customers at the branch and
accommodate more customers
with better quality time from
our Branch Customer Service
Reps and Officers.
For e-channels, solutions were
taken to reduce the number
of complaints experienced
by our customers specifically
at ATMs and Cash Accept
2018 2017 2016
89,849 75,348 69,229
0.035% 0.034% 0.034%
Machines (CAMs). More so,
the Bank is now able to resolve
the complaints related to their
transactions faster.
The Bank is now 100% EMV
compliant in both its issued
cards and ATMs. This means
that the risk of our customers
being compromised using their
Metrobank debit card for ATM
withdrawals and card-present
purchases will be significantly
reduced.
Consumer Protection
With the constant increase of
e-fraud customer concerns – be
it through online purchases or
transactions via ATM, online and
mobile banking, the Bank has
been continuously implementing
financial education campaigns
mainly through the Bank’s
social media account which
provides customers with tips on
how to protect their accounts
and personal information
which causes unauthorized
transactions.
Further, the Bank implemented
additional measures to ensure
compliance with the Data
Privacy Act.
HEART EVERYDAY SERVICE INTERACTIONS
H Heartfelt Greeting
E Empathize
A Act
R Relationship Building
T Thank the Customer
17
THE FUTURE MADE POSSIBLE
Voice of the Customer
Program
the community, constantly
reinforcing a customer-centric
strategy.
The Bank undertakes Voice
of the Customer initiatives Various initiatives were taken by
to continuously listen to its the Bank to constantly remind
customers to improve over-all our employees of the values of
customer experience in our the Bank, represented by the
channels and products. acronym PICTH, that every
• Net Promoter Score (NPS) employee should live by.
is an annual study done to
gauge customers’ overall Passion for Results
commitment and loyalty to Integrity,
our brand Teamwork
• Customer Satisfaction Commitment to Customer
(CSAT) is a monthly Service
survey to get immediate Heart for Community
customer feedback at
specific touchpoints, such as The PITCH values were deeply
branches and our Contact embedded into Metrobank
Center. This enables the Academy’s training programs
Bank to immediately address such as new employees’
pain points raised by our orientation, officer development
customers. programs and leadership and
• Mystery Shopping is a bi- management courses through
annual survey to check on reflection and case studies.
the consistency of service
delivery at the branches. The value on Commitment
to Customer Service is
The Bank is continuously upheld in the various training
looking for opportunities to activities of Metrobank
immediately draw-out feedback Academy. An initiative to drive
from customers in all customer this and be able to deliver
touchpoints. exceptional service is using
the acronym HEART which
Sustaining and guides Metrobankers what to
Reinforcing our say in their everyday service
Customer Service interactions or complaints
Culture handling situations with
clients. In 2018, HEART was
Metrobank remains dedicated incorporated in the You’re in
to fulfilling its vision to be the Good Hands Customer Service
best bank for all stakeholders program for newly hired
– from its customers to employees and officer-trainees.
COMPLAINTS HANDLING
Heartfelt Greeting
Empathize
Apologize
Relationship Building
Thank the Customer
 TRANSFORMING
THE
WORKPLACE
We continuously attract good talent and motivate employees to do their best.
Metrobank’s success hinges on committed, highly-motivated, and productive
employees. Through our talent management and development and employee
engagement programs, we keep our workforce constantly involved and on board in
our commitment to deliver the best service to our customers.

Teamwork
We not only care about the work that we do, but more importantly,
we care about the people we work with.
Working in a culture of collaboration and mutual respect is the key to having an
effective workforce. The success of the bank is mostly made possible by the hard work
and dedication of our people.

These outstanding Metrobankers serve as our inspiration as we live on the tradition of excellence in which our institution is founded.

In photo are the Winners of the Asian Local Currency Bond Benchmark Review - Best Individual category: Kael Pasimio (center), Gab Liboro
(right), and Beatrice Yatco (left).

18 19
 THE FUTURE MADE POSSIBLE

We have strengthened the
development of Metrobank’s
future leaders through a
Recruitment Transformation
Lab to obtain the best talents at
every level of the organization.
This is a team-driven initiative
to improve recruitment
operational process for better
quality of hires and faster
turnaround time.
We have also launched
a refreshed employee
onboarding program with
a facility to encourage
and gather constructive
feedback based on
new employees’ early
impressions.
Employee Engagement
We believe that keeping our
employees motivated and
engaged will inspire them to do
well at all times, and to stand by
our brand promise of keeping
those we serve in good hands.
This employee journey starts
with embedding our core
values in everything we do. We
had a bankwide campaign to
embed the Metrobank pledge
of fidelity to our core values:
Passion for Results, Integrity,
Teamwork, Commitment to
Customer Service, and Heart
for Community (PITCH). These
values are the cornerstone of
who we are as a team and as
an institution. By living these
values, we define the formula
of the bank’s and employees’
success.
We successfully completed
our Collective Bargaining
Agreement between the Bank
and the Employees’ Union for
the period covering the years
2019 to 2021. The negotiations
were carried out in the true
spirit of fairness and partnership
between management and
Union leadership.
Senior Management
Selection
The Bank has job descriptions
for the key positions, and
assesses the qualifications of any
candidate for the role.
Each candidate undergoes a
series of interviews by the
Line Head, HRMG, President,
Chairman and the appropriate
board committee(s). Any hiring
or appointment to the role
is approved by Manpower
Committee (MANCOM),
Nominations Committee
(NomCom) and the Board.
Performance
Assessment
Management
The Bank’s Performance
Assessment and Management
System (PAMS) measures
the employee’s performance
contribution based on clearly
defined targets, goals and
standards.
Retirement and
Succession Policy
The process of identification
and developing leaders has
been institutionalized to
objectively assess employee’s
potential to assume higher
responsibilities, especially to
ensure succession planning. This
is contained in the November
2017 Board approved HR
policy on Ascend – Leadership
Development Program.
The Bank provides a Retirement
Plan for its employees and
employees’ beneficiaries in
case of the employee’s death,
permanent total disability
and retirement. The plan was
approved by the Bureau of
Internal Revenue on March
2014.
The compulsory retirement of
Bank employees occurs at the
age of 55 years old or 30 years
of service, whichever comes first.
Code of Business
Conduct and Ethics
The revised Code of Conduct
was approved by the Board
on November 22, 2017 and
is set to take effect by January
1, 2018. The revised Code of
Conduct is anchored on the
Bank’s Core Values. Further, it
defines the expected behavior
of all employees across ten (10)
Standards of Conduct.
It will be disseminated to all
employees in January 2018.
The employees are required to
submit an acknowledgement
receipt that they have read,
understood and will comply
with the Code.
Further, the Code of Conduct
is discussed with the new
employees of the bank
during their New Employee’s
Orientation (every 1st and 16th
of the month). There are regular
advisories about the Code and
standards of right behavior that
are shared during training and
on various units’ meetings.

We live in changing times. As technology continues to evolve and empower consumers, brands, and enterprises,
it also motivates habits, behaviors, and methods to change. Metrobank recognizes the imminence of change,
hence the need to adapt and grow. We want to take advantage of this tipping point and capitalize on technology
as a critical component in our collective efforts to achieve our overall mission.

Currently, 95% of the entire Metrobank population has already signed-up for Workplace. Workplace is a
communication platform to engage employees and drive culture. It enables seamless top-down communication
and knowledge-sharing and promotes openness, feedback and diversity to empower us to better engage
Metrobankers and drive culture change.

20 21
 THE FUTURE MADE POSSIBLE

ORGANIZATIONAL
Gender Distribution

Male
Female
SO
211

268
JO
2051

3452
RF
2234

4635
TOTAL
4496

8355
%AGE
34.99%

65.01%
STRUCTURE
Total 479 5503 6869 12851 100.00%

Age Distribution – Active Employees Board of Directors

AGE BRACKET SO JO RF TOTAL %AGE
< 25 0 227 2,925 3,152 24.53%

26-30 1 840 2,181 3,022 23.52%

Trust
31-35 9 1,293 905 2,207 17.17% Office of the Banking
36-40 28 813 254 1,095 8.52% President Group
41-45 98 964 170 1,232 9.59%

46-50 128 959 292 1,379 10.73%

Risk
51-55 134 360 142 636 4.95% Management
> 55 81 47 0 128 1.00% Group
Total 479 5,503 6,869 12,851 100.00%

Average Age = 34.01

Institutional Retail Financial Enterprise Financial Internal Audit
Tenure Distribution – Active Employees Banking Sector Banking Sector Markets Sector Services Sector and Control Sector Group
EVP Mylene A. EVP Richard Benedict S. SEVP Fernand Antonio A. SEVP Vicente R. Cuna, SEVP Joshua E.
TENURE BRACKET SO JO RF TOTAL %AGE Caparas, 54 So, 53 Tansingco, 52 Jr., 56 Naing, 58
SVP Lita S. Tan, 55
<1 48 408 1,762 2,218 17.26%

2-5 47 909 3,008 3,964 30.85%

Compliance
6-10 64 1,224 1,214 2,502 19.47%
Division
11-15 66 900 274 1,240 9.65% Special Strategic
Accounts Credits Planning Digital International
16-20 86 787 263 1,136 8.84% Banking Offices
Management
21-25 72 963 264 1,299 10.11% Anti Money
26-30 59 271 84 414 3.22% Laundering
Division
> 30 37 41 0 78 0.61%

Total 479 5,503 6,869 12,851 100.00%

Average Tenure = 9.27

Functional and administrative

Administrative only, reports to the respective Board committees

22 23
 ADVOCATING
SUSTAINABILITY
Heart for Community is one
of Metrobank’s core values and
corporate social responsibility
(CSR) is integral to what we do.
Our CSR arm, the Metrobank
Foundation, continues to make
strides in our advocacy for
environmental sustainability,
empowerment through
education, promotion of good
health, and recognition of
outstanding Filipino citizens in
the community.
In 2018, Metrobank
strengthened its CSR
commitment anchored on
our core value of Heart for
Community. It is a continuing
program that engages
Metrobank employees to help
make lives better through an
embedded culture of giving
back to society.
For over 16 years, our Purple
Hearts Club (PHC) has
encouraged volunteerism
among our employees. PHC
has 61 chapters nationwide
with over 8,200 employee-
volunteers across units and
branches throughout the
country.
PHC’s flagship program, You’re
in Green Hands, focuses on
environmental issues and
activities that include tree
planting, seedling preparations
and coastal clean-ups. In
2018, Metrobank partnered
with environmental group,
Haribon Foundation, for coastal
clean-ups at the Las Piñas-
Parañaque Critical Habitat and
Ecotourism Area. Metrobank
also supported the Buhay
Punlaan Tree Nursery Program
for tree nursery maintenance
and seedling care at Lumban,
Laguna.

Metrobank collaborated with

GT Foundation, Inc. and other
subsidiaries of the Metrobank
Group such as Toyota Motor
Philippines Foundation for
a group-wide tree planting
activity at the Makiling Botanical
Gardens in Los Baños, Laguna.

Heart for Community

Promoting the welfare of the Filipinos and the community we belong to has always been a part
of what we do. Giving back is never an option. It is a responsibility.
We embrace every opportunity to share our success with many people to inspire them in achieving
their full potential. As an active participant in nation-building, we continuously strive to create
meaningful contributions through our products and services.

24 25
UPLIFTING
Metrobank’s Adopt-A-School
Program continued last year as
well as Kwentong Bata Beyond
Storytelling. The latter is our
flagship literacy program that
encourages values formation
and reading and writing
skills development through
storytelling for pre-school
children.
Bags-of-Blessing is our
nationwide gift-giving project
initiated by the late Metrobank
Group Chairman Dr. George
S.K. Ty and his family during
Chinese New Year. This is an
eagerly participated program by
Purple Hearts Club volunteers
across Metrobank.
Metrobank Foundation’s annual
These individuals
exemplify the core values
of the institution: Passion
for Results, Integrity,
Teamwork, Commitment
to Customer Service, and
the Heart for Community.

FILIPINO LIVES
Our bloodletting activity,
Dugong Metrobank, continued
to draw volunteers and guests
to donate blood to those in
need. We collaborated with
hospitals and institutions such
as Manila Doctors Hospital and
the Philippine National Red
Cross in these activities.
search for Outstanding Filipinos Their lives are inspiring
that recognizes exemplary
teachers, soldiers and police lessons for those of us
officers continues to be one of
the company’s most successful
who share in the mission
programs. The awardees were to committedly serve
recognized during Metrobank’s
56th anniversary celebration our country and fellow
in the presence of clients, Filipinos.
stakeholders, employees and
social development partners.

26 27

BANKING
WITH
INTEGRITY Metrobank recognizes
strong corporate
governance as key element
in sustaining long-term
growth and success of
the organization. The
Bank upholds the highest
standards of corporate
governance principles that
underpin the mechanism
in ensuring optimization of
performance, sustainable
value creation and
protection of interests of all
our stakeholders.
The Bank’s corporate
governance is anchored on the
pillars of integrity, accountability,
fairness and transparency
observed across all our
operations and dealings which
provides the strong foundation
to achieve our goals.
We support adoption of
INTEGRITY
For over five decades, we remain to be your most trusted bank. And we will continue
to be in the years to come.
Everything that we do is anchored upon the highest level of professionalism and ethics.
Our adherence to strong moral principles will continue to make us worthy of your trust.
structures and processes that
would ensure that our business
is conducted ethically and
comply with applicable laws
and regulations. Our staunch
commitment to safeguard
the long-term best interests
of our shareholders and all
other stakeholders translates
into a corporate culture that
embraces good governance
practices and fiduciary duties
manifested from the Bank’s
Board of Directors, Senior
Management and all Employees.
Corporate Governance
Manual and Codes of
Conduct
Metrobank has a strong
corporate governance
framework that is embodied
in the Corporate Governance
Manual which sets out the
roles and responsibilities within
the Bank and the practices
and procedures that we adopt
to ensure we govern our
organization to the highest
standards of good governance
principles.
28
THE FUTURE MADE POSSIBLE
The Corporate Governance
Manual serves as the guidebook
in the implementation of the
corporate governance rules
and regulations. It is periodically
updated for relevance and
alignment with new regulatory
issuances and best industry
practices. The Board of
Directors, Management,
Officers and Staff of the Bank
fully commit themselves to
the principles and practices
contained in the Manual and
acknowledge that the same will
guide them in the development
and achievement of the Bank’s
corporate goals.
The Bank ensures that its
Directors and Employees
embrace the Code of Conduct
which sets forth the standards
for professional and ethical
behaviors expected of them
when dealing internally and
externally. The Bank’s Codes of
Conduct are anchored on its
29

core values otherwise known
as the PITCH which stands
for Passion for results, Integrity,
Teamwork, Commitment to
customer service, & Heart for
the community and adhere
only to the highest standards
of fairness, accountability and
transparency.
The Corporate Governance
and Compensation Committee
and the Human Resources
Management Group ensure
observance and adherence of
the Directors and all employees
to the Codes. Breaches
are subject to appropriate
disciplinary actions in
accordance with the principles
of due process. To strengthen
the implementation of good
governance and development
of culture within the Group,
training of employees regularly
include among others, topics on
compliance, good governance
and ethics. The Board-approved
Corporate Governance Manual
and Codes of Conduct are
available in the Bank’s intranet
and posted in the Bank’s
website for public access.
Board of Directors
Metrobank is headed by a
competent Board that has
collective responsibilities for
leadership and control of
the Bank’s affairs ensuring its
long-term sustainability and
success. The Board leads the
process of developing and
reviewing the Bank’s strategies
annually. It oversees the overall
governance framework,
approves and oversees effective
implementation of business
and risk strategic directions to
achieve objectives, monitors
managements’ performance
against set targets and ensures
appropriate controls and
systems of checks and balances
are in place and operating
effectively. The Board sets the
tone of good governance from
the top as well as corporate
values, codes of conduct and
other ethical standards of
appropriate behavior for itself,
the senior management and
other employees.
The board members have
an independent access to
management and the corporate
secretary, as well as unfettered
access to information and
records of the Company to
fulfill their responsibilities.
Board Composition
The Bank’s Board is composed
of twelve directors, ten of
whom are non-executive
directors of which five are
independent directors.
Diversity in the Board is a key
consideration. The members
are experts in their field and
bring with them diversity in
age, ethnic background, skills
and experience. All directors
were selected based on their
qualifications such as integrity,
probity, physical & mental
fitness, competence, relevant
education, financial literacy and
training, diligence, knowledge
and experience.
Any stockholder may submit
nominations for directorial
positions to the Nominations
Committee per the Bank’s
By-laws. . The Committee
screens the nominations based
on its screening policies and
parameters, including among
others, alignment with the
strategic directions of the Bank.
The Nominations Committee
assesses the qualifications of
the nominees guided by our
By-laws, Corporate Governance
Manual and relevant regulations
of BSP and SEC and ensures the
optimal mix of skills and talent
and balanced memberships of
the Board. When identifying or
screening potential candidates,
the Committee may consult
whatever resources it deems
appropriate, including but
not limited to, referrals from
existing directors and officers,
recommendations from a third-
party search firm or suggestions
from stockholders. They may
also make use of external
databases of the Institute of
Corporate Directors or other
professional search firms. Only
nominees whose names appear
in the Final List of Candidates
shall be eligible for election as
director.
Directors are expected to
devote sufficient time to
diligently and efficiently perform
their duties and responsibilities.
As a rule, the non-executive
directors of the Board may
concurrently serve as directors
to a maximum of five publicly
listed companies, making sure
however that the shareholders’
legal right to vote and be voted
directors remains inviolable.
Conversely, the independent
directors, as a rule, may serve
for a maximum cumulative
term of nine years. After which,
the independent director
shall be perpetually barred
from re-election as such, but
may continue to qualify for
nomination and election as a
regular director.
30
The independent directors are
independent of management
and major shareholders. They
have not engaged and do not
engage in any transaction with
the institution or with any of its
related companies or with any
of its substantial shareholders,
whether by themselves or
with other persons or through
a firm of which they are
partners or a company of
which they are directors or
substantial shareholders, other
than transactions which are
conducted at arm’s-length and
could not materially interfere
with or influence the exercise
of their judgment.
The names of the directors
serving as at 31 December
2018 and their biographical
details are set out on pages
52-53.
The Chairman of the
Board and the President
The roles of the Chairman of
the Board and the President
are separate and held by two
different people to foster an
appropriate balance of power,
increased accountability and
better capacity for independent
decision-making by the Board.
Each has clearly defined
responsibilities in the Bank’s By-
laws and CG Manual.
The Chairman of the Board
provides leadership in the
Board. He ensures effective
functioning of the Board,
including maintaining a
relationship of trust with
Board members. In addition,
the Chairman ensures a sound
decision making process and
encourages and promotes
critical discussions and ensure
that dissenting views can be
expressed and discussed within
the decision-making process. On
the other hand, the President
exercises direct and active
management of the business
and operations of the Bank,
conducting the same according
to the orders, resolutions and
instructions of the Board and
according to his own discretion
wherever the same is not
expressly limited by such orders,
resolutions and instructions. He
communicates and implements
the vision, mission, values and
overall strategy of the Bank
and promotes any organization
change in relation to the
same. He exercises general
superintendence and direction
over the other officers and the
employees of the Bank and to
see to it that their respective
duties are properly performed.
Directors’ Orientation &
Continuing Education
The Board of Directors as
a group and as individual
directors should have sufficient
knowledge relevant to the
Bank’s affairs to provide
effective governance and
oversight.
All first-time directors are
required to attend a special
seminar on corporate
governance for board of
directors and undergo the
orientation program after
they are selected and before
their first Board meeting.
The orientation program for
first-time directors shall be
for at least eight hours. Each
new director is furnished
with a Director’s pack which
includes Bank’s By-laws, Articles
of Incorporation, Corporate
Governance Manual, Code of
Conduct and Ethics, general
responsibility and specific duties
and responsibilities of the Board
and of a director. Directors are
required to certify under oath
that they have received copies
and fully understand and accept
the general responsibility and
specific duties. The certification
is also submitted to BSP
together with a certification
that he or she has all the
prescribed qualifications and
none of the disqualifications
after their election.
On a continuing basis, the
Bank provides suitable funding
and appropriate training and
development of the Directors,
including the Corporate
Secretary, to enable them
to properly discharge their
duties and better serve our
stakeholders. In maintaining
their professional proficiency,
the directors are encouraged to
continuously enhance their skills,
knowledge and understanding
of the activities that the Bank is
engaged in or intends to pursue
as well as the developments in
the banking industry including
regulatory changes through
continuing education.
In 2018, the Bank arranged
a special training/seminar
conducted by Institute of
Corporate Directors (ICD)
attended by all directors and
senior management of the
Bank to apprise them on the
significant developments in
corporate governance including
subject matters on cyber
security, data privacy, anti-
31
money laundering, sustainability
reporting and other relevant
changes/developments.
Retirement & Succession
To promote dynamism,
leadership continuity and
relevance, it is always important
to have an effective succession
planning. As a general rule,
starting election of the Board
in 2018, no Director may
stand for re-election following
the calendar year in which
that Director turned 75
years of age. However, on
the recommendation of the
Nominations Committee,
the Board may waive this
requirement as to any Director
if it deems a waiver to the
best interest of the Company.
In addition, certain persons,
such as Filipino citizens with
recognized stature, influence
and reputation in the banking
and business community and
whose business practices
stand as testimonies to good
corporate governance, are
exempted from complying with
the requirement.
Succession or filling up
vacancies in the Board is
addressed in the Bank’s By-laws.
Any vacancies occurring in
the Board may be filled by the
vote of at least a majority of
the remaining directors, if still
constituting a quorum. Any
vacancy that occurs by reason
of removal by stockholders,
expiration of term or increase
in the number of directors shall
be filled by the stockholders
in a regular or special meeting
called for the purpose.
THE FUTURE MADE POSSIBLE
Board Meetings
The Board meets regularly to
discuss performance of the
Bank, strategies and other
matters requiring board
attention, decisions and
approvals. The organizational
meeting of the Board is
held immediately after the
Annual Stockholder’s Meeting.
Board-level committees are
reconstituted during the
organizational meeting. Regular
Board meetings are held every
second Wednesday of each
month. Special meetings may
be called at any time by the
Chairman, or, in his absence, by
the Vice Chairman, or pursuant
to the written request of any
four directors.
In 2018, the Board had 16
meetings with the incumbent
directors attending more than
93% of all meetings.
Independent and non-executive
directors likewise meet once a
year with the external auditor
and heads of internal audit,
compliance and risk without
any senior executive present. In
2018, such meeting was held on
February 19, 2018.
The Office of the Corporate
Secretary which plays a
significant role in supporting
the Board in discharging
its responsibilities prepares
the agenda and sends out
notices and materials at least
five business days before the
meeting dates. It also prepares
and distributes the minutes of
the previous meeting and keeps
full minutes of all Board and
stockholder meetings.
 THE FUTURE MADE POSSIBLE

Corporate Governance and Compensation Committee

Adviser Dr. Placido L. Mapa Jr., Senior Adviser

Chairman Rex C. Drilon, Independent Director

Regular Members Arthur Ty, Chairman

Board-level Committees Francisco F. del Rosario, Independent Director

Jesli A. Lapus, Independent Director

The Board has the ultimate responsibility for the affairs of the Bank but may delegate some of its functions to enable the effective discharge
of its duties. In 2018, the Bank had eleven board-level committees that assist the Board in the optimal performance of its roles and Corporate Atty. Donato V. Espino, Head, Compliance
responsibilities. The committees have their own respective charters which set out their mandate, scope and working procedures and can Governance Officer Division
be viewed at the Bank’s website. Information Technology Steering Committee
The CGCC assists the Board of Directors in fulfilling its
corporate governance responsibilities and in providing oversight Adviser Arthur Ty, Chairman
Number of Shares
on the implementation of the Bank’s Compliance System. The
Corporate
Domestic Related
% to Total
Board Executive
Anti-Money Risk
Equity Trust Audit
Governance
Party
Overseas
Nominations IT Steering Chairman Vicente R. Cuna, Jr., Director
committee is tasked with establishing a formal and transparent
Board Name Outstanding Laundering Oversight and Banking
Meetings Committee Investments Committee Committee Transactions Committee Committe
Direct Indirect Shares Committee Committee Compensation Committee
Committee Committee
Committee
procedure in determining the remuneration of directors and Regular Members Fabian S. Dee, President
Chairman
(ED)
Arthur Ty 13,456,030 0.34% 15/15
(CC)
41/52
7/7 3/3  4/5
(A)
3/6
officers that is consistent with the Bank’s culture, strategy, Edmund A. Go, Director
business environment and industry practice.
Vice Bernardino V. Ramos, Head, Information
Francisco C. (VC) (CC)
Chairman
(NED)
Sebastian
1,026,357 0.03% 14/15
46/52
3/3 
6/6 Technology Group
Domestic Equity Investments Committee
President/
Director Fabian S. Dee 650 0.00% 14/15 45/52 9/11 4/6 5/6 The ITSC provides governance and oversight in the
(ED)
Chairman Francisco F. Del Rosario, Independent Director management of the Bank’s IT resources. Its principal function
Director
Alfred V. Ty 15,121,879 0.38% 14/15 3/3  5/6 is to ensure that IT strategies are consistent with the overall
(NED) Regular Members Arthur Ty, Chairman
business objectives. As an extension of the BOD, it shall
Director Edmund (CC) (VC)
(NED) A. Go
6,622 0.00% 15/15
6/7 12/12
11/11 4/6
Francisco C. Sebastian,Vice Chairman supervise the IT Risk Management Program of the Bank and the
Director Vicente R. (CC) development of policies, controls, and specific accountabilities
115 0.00% 14/15 45/52 4/5 (2)
1/3   Alfred Ty, Director
consisted with the Bank’s IT Risk Management Framework. It
(ED) Cuna, Jr 6/6

Independent Jesli A. Lapus 20,150 0.00% 14/15 12/12

(CC)
11/11
5/5
(CC)
11/11 Vicente R. Cuna, Jr., Director should regularly provide adequate information to the BOD
regarding overall IT performance, status of major projects and
The Domestic Equity Investments Committee has been
Rex C. (VC) (CC) (CC)
other significant issues related to IT risks.
Independent 1,430 0.00% 14/15 6/7
Drilon II 10/11 5/5 14/16

(CC) (VC) established to assist the Board in overseeing the development

and maintenance of the Bank’s domestic equity investments
Independent Robin A. King 187 0.00% 15/15 15/15 11/11
11/12 (3) 16/16

Independent
Francisco
F. Del 130 0.00% 14/15
(CC) (VC)
4/5  6/6
policy and in monitoring its implementation by Management. Nominations Committee
3/3  13/15
Rosario, Jr.

Independent
Edgar O.
100 0.00% 15/15 7/7
(CC)
15/16 11/11
Chairman Jesli A. Lapus, Independent Director
Chua 15/15
Executive Committee Regular Members Robin A. King, Independent Director
Director Solomon S.
100 42,089 0.00% 15/15 4/4
(NED) Cua (1)
Advisers James Go, Senior Adviser Edgar O. Chua, Independent Director
NED-Non-Executive Director 1-Elected Director in April 2018
ED-Executive Director 2-Effective April 2018 Mary V. Ty, Assistant to the Group Chairman
CC-Committe Chairman 3-Elected in October 2018 The Committee shall review and evaluate the qualifications of
VC-Committe Vice Chairman Chairman Arthur Ty, Chairman all persons nominated to the Board as well as those nominated
A-Adviser
to other positions requiring appointment by the Board.
Vice Chairman Francisco C. Sebastian,Vice Chairman

Anti-Money Laundering Committee Audit Committee Regular Members Fabian S. Dee, President
Overseas Banking Committee
Chairman Edmund A. Go, Director Adviser Cornelio C. Gison, Adviser Vicente R. Cuna, Jr., Director
Chairman Francisco C. Sebastian,Vice Chairman
Regular Members Arthur Ty, Chairman Chairman Edgar O. Chua, Independent Director Mary Mylene A. Caparas, Head, Institutional
Banking Sector Regular Members Francisco F. Del Rosario, Independent Director
Vicente R. Cuna, Jr, Director Vice Chairman Francisco F. Del Rosario, Independent Director Corazon B. Nepomuceno, Chief Credit Officer,
Alfred Ty, Director
Rex C. Drilon II, Independent Director Regular Member Robin A. King, Independent Director Head, Credit Group
Alternate member Solomon S. Cua, Director
Edgar O. Chua, Independent Director Chief Audit Executive Leo R. Fragante, Head, Internal Audit Group Noel Peter Z.Yuseco, Deputy Head,
in the absence of
Credit Group Fabian S. Dee, President
Credit Group Head
As an extension of the Board, the Audit Committee assists
A Board level Committee tasked to assist the Board in fulfilling The Overseas Banking Committee shall assist the Board
the Board in fulfilling its statutory and fiduciary responsibilities, The EXCOM shall primarily review and approve credit
its oversight responsibility over the Bank’s AML Compliance in its oversight functions over the operations and financial
enhancing shareholder value, and protecting shareholders’ proposals and credit policies within its authority and limits as
Management to make sure that the Bank complies with the performance of the overseas branches and subsidiaries, their
interest through effective oversight of internal and external audit well as provide recommendations or conditions to lending. The
provisions of the AMLA, as amended, its Revised Implementing compliance with the rules and regulations of their respective
functions, transparency and proper reporting, compliance with EXCOM may also act on other matters as delegated by the
Rules and Regulations (RIRR), and BSP regulations. host countries and their adherence to the parent Bank’s
laws, rules and regulations and code of conduct, and adequate stockholders, and the Board of Directors within its competence business and corporate governance policies as prescribed by the
and effective internal controls. and in accordance with the By-Laws of the Bank. BSP and SEC.

32 33

Board Performance
Evaluation and Self-
Assessment
The Board conducts an annual
Related Party Transactions Committee evaluation process through the
Corporate Governance and
Chairman Rex C. Drilon II, Independent Director
Compensation Committee to
Vice Chairman Robin A. King, Independent Director assess the effectiveness of the
Board, Chairman of the Board,
Member Edgar O. Chua, Independent Director
President, Committees and
A Board level Committee tasked to ensure that Bank’s each Director’s performance
transactions with related parties are reviewed to assess risks and contributions. The Board
and subjected to appropriate restrictions to ensure that such has adopted an internal self-
are conducted at arm’s length terms and that the resources of rating system and procedures
the Bank are not misappropriated or misapplied. to determine and measure
compliance vis-à-vis good
corporate governance
Risk Oversight Committee principles and practices as
prescribed in the Code of
Chairman Robin A. King, Independent Director
Corporate Governance: (i)
Vice Chairman Edmund A. Go, Director each Director self-rates and
collectively rates the Board, the
Member Jesli A. Lapus, Independent Director
Chairman of the Board and the
Maritess B. Antonio, Head, Risk President; (ii) the Corporate
Chief Risk Officer
Management Group Governance and Compensation
Committee (CGCC), Audit, Risk
The Risk Oversight Committee, as the extension of the Board, Management and other Board
is responsible for the development and oversight of the risk committees conduct self-rating.
management program for the Bank and its Trust Banking Group.
The results of the annual self-
assessment are validated and
Trust Committee
summarized, discussed by the
Adviser Dr. Placido L. Mapa, Jr. Senior Adviser CGCC and reported to the
Board.
Chairman Jesli A. Lapus, Independent Director
Vice Chairman Rex C. Drilon II, Independent Director Based on the results of the
annual evaluation, for the
Regular Members Fabian S. Dee, President
year 2018, the Bank has fully
Edmund A. Go, Director complied with the material
requirements of the Code of
Leandro Antonio G. Santillan, Head Trust Banking
Corporate Governance.
Group
The Trust Committee shall act within the sphere of its authority, Compliance System
including but not limited to, the confirmation of acceptance
and closing of trust and fiduciary accounts, the review of The Bank, through Compliance
assets placed under the Bank’s custody, the investment, and Division implements an
reinvestment and disposition of trust funds and the review enterprise-wide compliance
and approval of transactions between trust and/or fiduciary program which forms an
accounts. integral part of the Bank’s
culture and risk governance
34
framework to provide
reasonable assurance that the
Bank and its directors, officers
and employees comply with
all banking and corporate laws,
regulations, rules and standards.
The Compliance Division
serves as the core-force of
information for regulatory
issuances and interpretation
of rules and regulations
and provides oversight
and guidance for a strong
compliance culture as it
works closely with business
and support units to identify,
assess, monitor and manage
possible regulatory compliance
risks which may impact the
Bank’s operations and franchise
value. The Compliance
Division is tasked to promote
effective implementation of
the compliance system and
address breaches that may
arise. It ensures that possible
compliance issues and key
compliance risks are proactively
identified, measured, and
assessed and that advice and
support to Management in
managing regulatory and
compliance risk are provided.
It also conducts compliance
awareness trainings for all
employees on a regular basis
and issues advisories where
appropriate.
The Compliance Division
is headed by the Chief
Compliance Officer (CCO)
who reports functionally to
Corporate Governance and
Compensation Committee.
The CCO provides effective
and proactive upstream and
downstream communication
within the Bank to address
compliance matters and
ensure that same are reported
to appropriate levels of
management and to the Board
of Directors through the
Corporate Governance and
Compensation Committee.
Compliance Division continues
to actively seek ways to
boost compliance and adopt
best practices in corporate
governance. It also maintains
a dynamic interaction with
regulators to ensure a balance
between having the right
compliance culture and a risk-
averse environment that will
support business growth.
Fair Business
Transactions &
Managing Conflicts of
Interest
The Bank champions the fair
treatment and protection
of all our stakeholders,
particularly our customers,
resource providers, creditors
and the community in which
we operate and believe that
fair, professional and objective
dealings forge enduring
relationships. The members of
the Board conduct fair business
transactions with the Bank and
ensure that personal interest
does not bias Board decisions.
Directors, officers and all
employees avoid situations that
would give rise to a conflict of
interest including participation
in any corrupt practices or
bribery of any kind.
All related party transactions
are conducted at arm’s length
basis. If transactions with the
Bank cannot be avoided, it is
done in the regular course
of business and upon terms
not less favorable to the
Bank than those offered to
others and subject to the
Bank’s policy on related party
transactions. Transactions with
related parties are reviewed
by either the Related Party
Transactions Management
Committee, a management-
level committee composed of
senior officers or the Related
Party Transactions Committee,
a Board-level committee
composed of independent
directors, depending on the
materiality threshold set by
the Bank. Material related
party transactions require
prior written approval of
the members of the Board,
with the exclusion of the
director concerned in case the
transaction involves him or his
related interests. Related party
transactions are discussed in the
Audited Financial Statements,
particularly under Notes to the
Financial Statements No. 31
on related Party Transactions.
All acts of the Board, including
material related party
transactions, are confirmed by
the majority vote of the Bank’s
stockholders during the annual
stockholders’ meeting.
Insider Trading Policy
Metrobank as a publicly traded
company is governed by
securities laws and regulations.
The Bank strictly enforces and
monitors compliance with its
Insider Trading Policy to uphold
applicable laws and ensure
shareholders protection and
that individuals do not benefit
from knowledge which is
not generally available to the
market. The policy requires
that the disclosure of material
35
non-public information about
any of the companies within
the Metrobank Group or any
partner shall be made on a
reasonable need-to-know
basis and in furtherance of a
legitimate business purpose.
The policy prohibits trading
during black-out periods by
covered persons i.e. all directors
and employees within the
Metrobank Group including
their immediate family members
residing with them in the same
household and corporations,
other entities and funds subject
to their influence or control. It
requires the reporting insiders
to confirm their respective
beneficial ownership of
listed shares of stock in their
respective companies, if any, and
report any changes thereto on
the next trading day from the
date of the change pursuant to
the requirements of the SEC
and the PSE.
Whistle Blowing Policy
Metrobank is committed to
maintaining the highest possible
standards of ethics, honesty,
accountability and adhering
to the principles of good
governance. All employees
are encouraged to play their
part in improving the overall
effectiveness and success of
the Bank and in strengthening
the Bank’s system of integrity
by creating an atmosphere
of openness and trust and
by providing an avenue for
employees to raise concerns
and receive feedback on any
action taken.
THE FUTURE MADE POSSIBLE
The Bank’s Whistle Blowing
Policy aims to guide officers
and staff as well as other
stakeholders on reporting
complaints related to fraud,
malpractice, conflict of interest
or violation of internal/
regulatory policies, procedures
and controls. The policy also
provides for the protection
of the reporting employee.
Under the policy, the Bank
shall maintain the identity of
the reporting employee as
confidential and retaliation
against any reporting employee
shall not be allowed. Complains
/concerns may be filed through
the Bank’s website or send
via email at whistleblowing@
metrobank.com.ph or text
hotline +639427471359.
Dividend Policy
The Bank’s dividend policy is an
integral component of its capital
management policy rather
than a stand-alone process. Its
fundamental and overriding
policy is sustainability.
Dividends are declared and
paid out of unrestricted
retained earnings of the Bank
at such intervals as the Board
of Directors may determine
and in accordance with the
provisions of law and the
regulations of the BSP and the
SEC. Historically, the Bank has
declared annual cash dividends
equal to P1.00 per common
share, equivalent to 5% of par
value. The payment of dividends
in the future will depend on
the Bank’s earnings, cash flow,
financial condition, regulatory
requirements for capital and
other factors. The Board of
Directors may, at any time,

modify the Bank’s dividend
payout ratio depending on the
results of operations and future
projects and plans of the Bank.
Cash dividends are subject to
approval by at least a majority
of the Board of Directors. On
the other hand, stock dividend
requires prior clearance from
the BSP, the SEC and the PSE.
Compensation Policy
The Bank adopts a
compensation policy that
is aligned with the Bank’s
operating and risk culture,
long-term strategic and financial
interest and labor laws and
regulations, promotes good
performance and competitive
with industry standards, with
a goal to attract, motivate and
retain the best people.
Directors’ Compensation Package
The members of the Board
of Directors receive a fixed
remuneration package based
on experience, professional
background, level of
responsibilities and attendance
in Board and committee
meetings.
Executive and Employee
Compensation
The Bank pays salaries
commensurate to the
individual’s qualifications &
experience, nature of the
job, position, and level of
responsibility with reference to
an approved salary scale.
The Bank’s compensation
package is reviewed regularly
and benchmarked against
competition through
participation in annual
compensation and benefit
surveys to ensure its
competitiveness vis-à-vis
industry and other market
considerations.
Pay for Performance.
The Bank aims to achieve a
performance-driven work
culture by providing meaningful
rewards for performance.
Annual performance scorecards
are structured to support
business strategies and provide
competitive rewards. Thus,
the Bank grants annual merit
increase and performance
bonus (non-guaranteed)
based on the Bank’s overall
performance, Group and
individual performance, and
market conditions.
Fair Compensation.
The Bank ensures that its
compensation package for
non-officers or rank and file
employees is in accordance with
the labor law requirements.
They receive salaries linked
to both performance and the
Bank’s contractual obligation
under a collective bargaining
agreement which include
loyalty bonuses for long-term
employees.
Interest of Stakeholders
Metrobank has a responsibility
to all its stakeholders and
addresses their needs. The
Bank has policies that safeguard
the interests of customers &
creditors, suppliers, employees,
shareholders and the
environment.
Customers & Creditors
The Bank remains anchored
on its very purpose of
ensuring customer success, by
safeguarding its customers’ and
creditors’ welfare, fulfilling their
needs and by helping them
achieve their goals. As contained
in the Bank’s Code of Conduct
for Employees, failure to attend
promptly to client requests is
an example of non-acceptable
behavior under the standard of
conduct.
The Bank has also developed
its Customer Protection Policy
Manual that enumerates the
basic principles and ethical
business practices that govern
the conduct of the Bank in
dealing with its customers,
setting out the standards
of consumer protection in
the areas of disclosure and
transparency, protection of
client information, fair treatment,
effective recourse and financial
education. It provides assurance
that consumer protection
practices are embedded in
the Bank’s business operations
which address and prevent
identified risks to the Bank and
associated risk of financial harm
or loss to its customers.
Stockholders’ Rights and
Protection of Minority
Stockholders’ Interests
The Board respects the rights
of the stockholders as provided
for in the Corporation Code.
It promotes the rights of
the stockholders, removes
impediments to the exercise
of those rights and provides an
adequate avenue for them to
seek timely redress for breach
of their rights.
36
The Board makes available to
the stockholders accurate and
timely information to enable the
latter make a sound judgment
on all matters brought to their
attention for consideration
or approval. All material
information about the Bank is
disclosed in a timely manner to
the SEC and PSE.
The Board is transparent and
fair in the conduct of the annual
stockholders’ meetings of the
Bank. The Bank encourages
the stockholders to personally
attend such meetings. If they
cannot attend, they are apprised
ahead of time of their right to
appoint a proxy. Subject to the
requirements of the By-Laws,
the exercise of the right shall
not be unduly restricted and
any doubt about the validity of
a proxy should be resolved in
the stockholder’s favor.
Every stockholder entitled to
vote on a particular question
or matter involved shall be
entitled to one (1) vote for
each share of stock in his name.
Cumulative voting is allowed
provided that the total votes
cast by a stockholder shall not
exceed the number of shares
registered in his name as of
the record date multiplied by
the number of directors to be
elected. Matters submitted to
stockholders for the ratification
shall be decided by the required
vote of stockholders present
in person or by proxy. All
shareholders shall have the
opportunity to obtain effective
redress for violation of their
rights.
Supplier & Contract Selection
The Bank also ensures
that it maintains policies
for supplier and contract
selection. The policy on vendor
management and outsourcing
of banking support and
marketing activities provides
guidelines on accreditation
of service providers as well
as monitoring and reviewing
their performance. The Bank’s
Vendor Management Policy
provides guidelines in the
purchase or acquisition of
products or services from
vendors and mitigates risks
of dealing with unqualified
vendors. It shall also ensure that
the Bank’s vendor management
guidelines are compliant with
BSP regulations. The Bank
also practices the policy of
canvassing and bidding services
as a basis for the evaluation and
approval of the bid process.
Health, Safety and Welfare of
Employees
The Bank acknowledges that it
has a responsibility to ensure
the safety and security of its
employees and clients. The Bank
actively promotes a safe and
healthy work environment that
is conducive to the well-being
and professional development
of its employees. The Bank also
believes that providing them
with a secure and safe work
environment greatly enhances
business and work productivity.
In particular, the Bank ensures
a drug-and alcohol-free work
environment at all times.
Among the programs instituted
was the wellness check of
employees, results of which
were the basis of choosing
relevant health interventions
for the workforce. Lectures
on bank security are likewise
conducted to equip personnel
in handling situations that
may compromise the security
of persons, property and
information. The Bank also
ensures a drug-and alcohol-free
work environment at all times.
The Bank also ensures that all
employees perform their work
consistently to high standards
and achieve their full potential.
It recognizes that training and
development is fundamental
to the improvement of the
Bank’s operational performance
and the achievement of the
Bank’s strategy and goals. The
Metrobank Academy provides
all officers with a wide range
of suitable programs to assist
in their continuing professional
development, so that the
organization will have the
right quality of people for the
business to grow and achieve
its goals. The Bank strives to
empower Metrobankers with
the right skills, knowledge, work
ethics and expertise that are
relevant to the stakeholders.
Economic & social development
The Bank believes that it is
responsible also for the state
and welfare of the larger society
to which it belongs. As an
institution with a heart, the Bank
gives back to the communities
we serve, committed to making
meaningful contributions
to the economic and social
development of our nation. It
measures its performance not
only with financial returns but
also with its social objectives.
37
Metrobank has comprehensive
community and social
responsibility programs
conducted by the Metrobank
Foundation, its corporate social
responsibility arm and the
employees through the Purple
Hearts Club.
The success of the Club was
rooted in the heart for service
shown by the Bank’s employee-
volunteers. Employees
participated in an array of
CSR programs that focused
on education, environmental
stewardship, and health. PHC
also collaborated with partners
across several industries to
introduce employees to new
opportunities for volunteerism
that benefit and support other
marginalized sectors of society.
Details of the various programs
and activities of Metrobank
Foundation and PHC may be
read on page 25.
Environment Protection
As part of Metrobank’s core
value of being a responsible
corporate citizen, it believes
that sustainable development is
a fundamental aspect of sound
business management and
recognizes that this must rank
among the top priorities of its
lending portfolio.
Metrobank is focused on
developing a loan portfolio that
directly protects and promotes
environmental and social care,
and likewise instilling in the
borrowers, the awareness that
social and environmental care
are inextricable to economic
growth in order to achieve
sustainable development.
THE FUTURE MADE POSSIBLE
Metrobank is committed
to sound environmental
stewardship. It consistently
strives to look for areas to
improve its operations towards
the conservation of energy,
water and resources. Various
policies on optimizing the use
of paper, power shutdown of
office equipment to minimize
resource usage and to save
on electricity costs, use of
vehicles for carpool and
regular maintenance and
servicing of vehicles to reduce
transportation cost and carbon
emissions are in place.
The Metrobank Purple
Hearts Club (PHC) has
“You’re In Green Hands”
(YIGH), an environmental
stewardship program which
centers on combating various
environmental issues faced by
the country through restoration
activities such as tree planting,
mangrove planting, seashore,
and coastal clean-up drives.
Risk Management
The Risk Management Group
(RSK) is an independent unit
of the Bank that identifies,
analyzes, measures, and
monitors identified material
risks in close coordination
with other business units. It
exercises oversight on the risk
management units of various
subsidiaries and affiliates with
the goal of ensuring compliance
with relevant regulations,
and the implementation of a
consistent risk management
framework across the
Metrobank group.

Strategic Level
Strategic Risk Appetite
Direction Definition
RSK reports directly to the
Board of Directors through
the Risk Oversight Committee,
which is composed primarily of
independent members of the
Board. The Committee’s active
role in overseeing the Bank’s
risk infrastructure, operating
policies, and exposures ensures
a good balance between risk
appetite and prudence.
Risk Management Principles
Ultimately this philosophy
of balancing risk and reward
translates to the following risk
management principles:
1. Because risk is native to
the banking business, the
Bank manages risks that
correspond to its goals
and objectives as an
ongoing business;
Portfolio & Transaction Level
Risk &
Opportunities
Identification
NO
Viable?
Risk
Monitoring
2. As the business
landscape evolves, the
Bank’s risk management
practices must likewise
remain appropriate
and practicable, but
always in consonance
with standards set by its
regulators;
3. The Bank must ensure
that it has the right risk
governance structure in
order to minimize the
chances of risks becoming
real losses while exploiting
the gains that may
accrue from business
opportunities; and
4. Risk management is
everyone’s concern –
from the Board who sets
the overall tone, to the
officers and staff who
execute the Bank’s risk
management strategy.
The Risk Management Process
Risk
Assessment & Consistent with the foregoing,
Evaluation the Bank’s risk management
process focuses on the interplay
among business, concomitant
risks, and required capital
with the goal of sustaining the
YES Risk Control & franchise through the rise and
ebb of the business cycle. It
Mitigation
provides the engine for the
determination of the Bank’s
strategic goals, its material risks,
and its appetite for said risks.
Risk exposure identification,
measurement, management, and
Risk Review monitoring provide the support
on which business budgets are
afforded the chance of being
achieved and for which capital
adequacy to support the effort
is continuously assured.
Board of Directors
(BOD)
Risk Oversight
Committee (ROC)
Subs Risk Committees
Risk Management
Group (RSK)
Risk Management
Coordinating Council
(RMCC)
38
Metrics and risk assessment
tools, both adopted from
regulation and best practice
and internal to the Bank
are then used to measure
identified risks. The use of
these tools complements the
conduct of business as they
help prevent risks from being
realized into serious issues, as
well as cue the possibility of
any instance that capital may
be called to absorb losses.
Notwithstanding a defined
risk management function, the
Bank recognizes that the core
banking activity of managing
risks is not the sole province
of RSK. It is rather a function
that cuts across the entire
organization as manifested in
the Bank’s three (3) lines of
defense. Such set-up is central
to risk management, as it
expresses everyone’s role in
ensuring that risk exposures
are managed and within
the Bank’s risk appetite. The
first line of defense consists
of the risk taking and risk
owning units since they are in
the position to immediately
identify, respond, manage, and
monitor risks. Second would
be independent units, like RSK,
that provide oversight and
the tools, systems and advice
necessary to support the first
line in identifying, managing
and monitoring risks. The third
line of defense is provided by
the internal audit function. This
function provides a level of
independent assurance that the
risk management and internal
control framework is working
as designed.
Material Risks
As a Domestic Systemically
Important Bank (DSIB),
Metrobank faces a broad
range of risks reflecting such
status. These risks include
those resulting from its lending
activity, treasury operations,
and extensive client-facing
network, including its branches.
The Bank recognizes that it
is not possible or necessarily
desirable to eliminate some
of the risks inherent in its
activities. Acceptance of
some risk, therefore, is often
necessary to foster growth
and efficiencies within business
practices. At all times, however,
the Bank ensures that any
risk-taking activity is aligned
with its corporate objectives
and capabilities, and that an
effective risk management
process is in place.
The following are some of the
material risks the Bank faces
and the strategies for managing
the same:
Credit Risk
It is the risk that the borrower,
issuer or counterparty in a
transaction may default and
cause potential loss to the Bank.
It arises from lending, trade
finance, treasury, derivatives
and other similar activities. The
Bank’s appetite for this risk
is moderate, reflective of its
core business and the social
responsibility that comes with
being one of the financial
system’s largest lenders.
As a matter of general strategy,
the Bank manages this risk
through a system of policies,
metrics, and authorities that
govern the processes and
39
practices of all credit-originating
and relationship management
units, as well as other units
involved in the credit cycle.
Credit Concentration Risk
It is the current and prospective
negative impact to earnings
and capital arising from
over-exposure to specific
industries and/or borrowers /
counterparties. The Bank has
a moderate appetite for this
risk, recognizing that specific
growth areas may need credit
support more than others,
and that lending to highly
integrated customers often lead
to pockets of concentration.
The Bank manages this risk via
adherence to processes relating
to industry and counterparty
assessments, observance of
regulatory ceilings, and setting
of internal limits.
Market Risk
It is the risk resulting from
adverse movements in the
general level of or volatility
of market rates or prices
or commodity/equity prices
possibly affecting the Bank’s
financial condition. The Bank’s
appetite for this risk is low,
and manages this risk via a
process of identifying, analyzing,
measuring and controlling
relevant market risk factors, and
establishing appropriate limits
for the various products and
exposures.
Interest Rate Risk in the Banking
Book (IRRBB)
It is the current and prospective
negative impact to earnings and
capital arising from movements
or shifts in interest rates. The
risk becomes inherent in the
THE FUTURE MADE POSSIBLE
current and prospective interest
gapping of the Bank’s balance
sheet. The appetite for this risk
is low; as such, the Bank follows
a set of policies on managing
its assets and liabilities so as
to ensure that exposure to
fluctuations in interest rates are
kept within acceptable limits.
Liquidity Risk
It is the risk to earnings or
capital arising from the Bank’s
inability to meet its obligations
when they become due. The
Bank considers liquidity risk as
the most important considering
that liquidity is the lifeline of any
bank. As such, the appetite for
liquidity risk is low. The Bank’s
strategy for managing this risk
is generally via limiting the
maturity mismatch between
assets and liabilities, improving
the stickiness of its deposit
and liabilities profile, and by
holding sufficient liquid assets
of appropriate quality and
marketability.
Operational Risk
It is the risk arising from the
potential that inadequate
information system, operations
or transactional problems
(related to service or product
delivery), breaches in internal
controls, fraud or unforeseen
catastrophes will result in
unexpected loss. The Bank’s
appetite for operational risk
is low, and is managed via a
framework involving various
tools that promote a strong
control environment, escalation,
monitoring and reporting of risk
events, and adequate mitigation
of assessed risks.

Technology Risk
It is the current and prospective
negative impact to earnings
arising from failure of the Bank’s
IT systems, including information
and cyber security. The Bank’s
appetite for IT risk is low, and its
strategy in managing this risk is
embodied in a comprehensive
information technology
management policy that
encompasses IT risk assessment,
vulnerability testing, monitoring,
controls, and mitigation.
Reputation Risk
It is the current and prospective
negative impact to earnings
and capital arising from
negative public opinion. As a
bank essentially survives on its
reputation, the Bank has very
low appetite for reputation risk
and always aims to proactively
build on its good name. The
Bank holds that reputation
risk is a consequence of other
risks. Its management therefore
is tied closely to the manner
by which it manages its other
risks. By ensuring effective
identification, assessment,
control, monitoring, and
reporting of the other material
risks, reputation risk is likewise
effectively managed.
Compliance and Regulatory
Risk
It is the current and prospective
negative impact to earnings and
capital arising from failure to
comply with all applicable laws,
regulations, and standards of
good governance and practice.
The appetite for this risk is low,
and is managed via the conduct
of a defined Compliance
program. Specific to Money
Laundering & Terrorist Financing
(ML/TF) Risk, the Bank has zero
tolerance for the same, and
is managed separately by the
Bank’s Anti-Money Laundering
Division (AMLD) reporting
directly to the Board’s AML
Committee.
Strategic Risk
It is the current and
prospective negative impact to
earnings arising from adverse
business decisions, improper
implementation of decisions,
and/or lack of responsiveness
to industry changes. The Bank’s
strategy in managing this risk
is to embed the same in the
various business functions as
espoused in its strategic and
business planning processes.
INTERNAL AUDIT
Internal Audit Group is
established by the Board of
Directors, and its responsibilities
are defined by the Audit
Committee as part of its
oversight function. The Audit
Committee and Management
take all the necessary measures
to provide the appropriate
resources and staffing, including
free access to all functions,
records/documents, information,
properties and personnel,
that would enable Internal
Audit Group to fully carry out
its functions and achieve its
objectives while adhering to
the principles required by the
International Standards for the
Professional Practice of Internal
Auditing (Standards) and Code
of Ethics.
The Internal Audit Group
maintains its independence and
objectivity in performing and
delivering audit works, as the
Internal Audit Group Head/
THE FUTURE MADE POSSIBLE
Chief Audit Executive reports acquired economically, used The Group commits to development programs; elevate comprehensive internal
functionally to the Board of efficiently, and adequately continually embark with effectiveness thru enhanced controls and audit. These
Directors through the Audit protected; Bank’s programs, a purposeful competency work programs and end-to- practices, together with effective
Committee and administratively plans, and objectives are development plan as it is end process audits on critical communication and training
to the Office of the President. achieved; quality and continuous paramount that the capabilities areas of Bank operations; roll and risk-based compliance
All internal audit activities improvement are fostered and skills of the Internal Audit forward assurance capabilities testing, promote a robust,
remain free of influence by any in the organization’s control team evolve with business and to the first and second lines of dynamically-responsive, and
element in the organization and process; and, significant technology developments, as defense; optimize the use of appropriate compliance system
internal auditors have no direct operational risks/ issues are well as changing practices. electronic data to fully integrate and culture of compliance
responsibility or involvement addressed properly. data analytics in internal audit towards a sound and stable
over any Bank operating The accomplishment of activities, realize efficiencies financial franchise. With the
activities. 2018 Risk-Based Internal through increase in centralized Bank’s robust and sound risk
Over the years, the Audit Plan, which includes validation procedures; and management practices and
The Internal Audit Group internal audit function has fundamental audit activities provide deeper insights strong commitment to good
scope of work ensures and initiatives such as to the Management and corporate governance practices
that risks are appropriately become more relevant assurance activities; consulting/ Board of Directors through and principles of safe and sound
identified and managed and and firm in adding value advisory works; fact-finding/ forward-looking analyses. IAG banking practices, regulatory
interaction with the various case analysis; special reviews further commits to undergo and money laundering and
governance groups occurs, as to the Bank, as internal of information technology transformational initiatives in terrorist financing risks are
needed, through validation on auditing is performed operations; embedding of data the coming years to deliver effectively managed.
whether significant financial, analytics thru investment in impactful assurance and
managerial, and operating by professional auditors technology, training of staff, consulting services which shall
information is accurate, reliable, evaluation of data sources, intensify and proliferate good
and timely; operations and
with deep appreciation of and collaboration of audit corporate governance practices
system functionalities are in the importance of strong teams; enhanced account within the organization.
compliance with Bank’s code confirmation procedures;
of conduct, policies, standards,
governance and with fraud risk assessment and ANTI-MONEY
procedures, and applicable in-depth understanding awareness programs; and, LAUNDERING
laws and regulations, including group supervision activities on
adequacy and effectiveness of the Bank products/ internal audit units of covered The Bank’s AML compliance
of controls associated with services, systems, and Metrobank Subsidiaries, among program, which is designed to
money laundering and terrorist others, allowed IAG to provide identify and mitigate business
financing; resources are processes. the stakeholders with objective and regulatory risks, is being
assurance and insight on the implemented through sound
effectiveness and efficiency risk management practices
Audit Committee of risk management, internal and adherence to applicable
control, and governance rules and regulations on the
Adviser Atty. Cornelio C. Sison, Board Adviser
processes of the Bank. Through prevention of money laundering
Chairman Edgar O. Chua, Independent Director this valuable insights, positive and terrorist financing.
Francisco F. Del Rosario Jr., Independent
changes and certain innovations
Vice Chairman
Director within the organization were The sound risk management
prompted which aids in the practices of the Bank are
Member Robin A. King, Independent Director overall achievement of the well established to ensure
Chief Audit Executive Leo R. Fragante, Head, Internal Audit Group Bank’s strategic objectives. adequate and active board
and senior management
As an extension of the Board, the Audit Committee assists To keep up with the increasing oversight, acceptable policies
the Board in fulfilling its statutory and fiduciary responsibilities, business challenges and and procedures embodied in a
enhancing shareholder value, and protecting shareholders’ interest growing array of risks, IAG money laundering and terrorist
through effective oversight of internal and external audit functions, will strive to be dynamically financing prevention compliance
transparency and proper reporting, compliance with laws, rules responsive to emerging program, appropriate
and regulations and code of conduct, and adequate and effective issues; fortify its workforce monitoring and management
internal controls. by investing in competency information system and
40 41

AUDIT COMMITTEE
REPORT TO THE BOARD OF DIRECTORS
Throughout the year, the Audit
Committee (Committee)
provided full support and
assistance to the Board
of Directors in fulfilling
its statutory and fiduciary
responsibilities, enhancing
shareholders’ value, and
protecting their interest through
effective implementation of its
primary responsibilities stated
in the Board-approved Audit
Committee Charter, which
cover overseeing of internal
and external audit functions,
including internal audit activities
provided to subsidiaries/
associates and outsourced
internal audit activities; ensuring
transparency and proper
reporting with emphasis
on the reports’ integrity,
timeliness and compliance
with standards; monitoring
compliance with Bank policies,
and applicable laws, governing
rules and regulations and code
of conduct; and, evaluating
adequacy, effectiveness and
efficiency of internal control
framework.
The Committee is composed
of three (3) qualified non-
executive members, who
are all independent directors
appointed by the Board of
Directors. These directors
also hold membership
positions in other Board-
level Committees, through
which, they are apprised of
significant developments and
are able to provide advice on
risk taking and management
activities. In 2018, the Audit
Committee held twelve (12)
regular meetings and three (3)
special meetings with internal
and external auditors; and the
Chairman had private meetings
with the Chief Audit Executive
to set clear directions and
guidance in carrying out certain
mandates/directives. Highlights
of the Committee’s activities
were as follows:
Financial Reporting
Reviewed and reported to the
Board of Directors the interim
and annual financial statements
and disclosures; valuation
techniques; major estimates and
assumptions used; significant
adjustments, material errors
and fraud; and action plans of
the Management on reported
observations. Coordinated with
the Controller and both with
internal and external auditors in
ensuring Bank’s compliance with
new financial reporting and
accounting standards, tax, legal
and regulatory requirements;
proper treatment of unusual/
complex transactions where
significant judgment was
exercised; and, employee
pension funding requirement
or appropriate recognition of
corresponding liability in the
books.
Internal Control and Risk
Management
Evaluated adequacy and
effectiveness of the Bank’s
internal control and risk
management systems, processes,
and procedures through IA
reports on assurance and
consultative engagement
activities, which cover review
of controls of pertinent
areas of operations such as
credit/lending operations,
marketing/sales function,
information systems, IT
governance, cybersecurity,
and fraud management,
among others. Assessed and
monitored Management’s
degree of responsiveness
to audit observations and
recommendations on process
improvements and control
enhancements. Engaged and
liaised proactively with the
Board in overseeing effective
implementation of internal
control and risk management
functions, and conveying
culture of honesty and integrity
throughout the organization.
Regulatory Requirements
Monitored compliance by the
Bank with new and existing laws,
regulations and promulgated
policies of the Bangko Sentral
ng Pilipinas and other regulatory
agencies, including but not
limited to money laundering
and terrorist financing, financial
consumer protection, related
party transactions, information
security and business continuity
management. Reviewed and
evaluated the effectiveness
of the regulatory compliance
framework and governance
policies and practices of the
Bank to ensure that these
are consistently applied and
observed throughout the
institution.
Oversight of the External
and Internal Audit Function
Ensured the external and
internal auditor’s objectivity
and independence; approved
the reappointment of the
external auditor, terms of audit
engagement and audit fees;
evaluated audit scope, plan and
performance; reviewed and
approved the Management
Representation letter; approved
42
THE FUTURE MADE POSSIBLE
the annual internal audit plan;
regularly received reports,
GROUP
OWNERSHIP
discussed significant matters,
including status of resolving
control issues/observations,
and implementation of
recommendations to improve
internal controls; monitored
progress/completion of audit
plan; reviewed audit results
including the Bangko Sentral ng
Pilipinas report of examination;
and, reviewed and approved
all non-audit services of the
external auditor (i.e., issuance Ty Family/
of comfort letter for the rights
offer of Metrobank common 36.4% MBT
Foundation
14.7% Free Float
48.9%
shares, validation of votes cast
at the annual stockholders’
meeting, issuance of quarterly
reports on the application
of proceeds from the 2018 *
stock rights offer, vulnerability
assessment and penetration
testing of publicly accessible
servers, network, devices
and services engagement) to
ensure no conflict or threat to
independence.
Based on the Committee’s Investment Banking Credit Cards Savings Bank Leasing
accomplishments,
representation letter from the
Bank Management, unqualified
99.2% 100.0% 82.7% 59.9%
opinion from the external
auditor on the financial
statements, and the Chief Audit
Executive’s overall satisfactory
assessment on the general
adequacy and effectiveness of
the Bank’s internal control, risk Effective Ownership
management, and governance
processes, we conclude that
business risks are managed in Bancassurance
accordance with the policies
set by the Board of Directors
and in compliance with relevant
28.0%
regulatory requirements.
* Listed on PSE
JV between AXA, Metrobank Group Note: There are no shareholder agreements, voting trust agreements, confidentiality agreements or any
and GT Capital (25.3% owned) such other agreements that may impact the control, ownership and strategic direction of the company.
43
 DOMESTIC
SUBSIDIARIES
AND
AFFILIATES
The Metrobank Group shares with all its
clients a single vision and foresight.
You design your dreams.
We build the road for your journey.

Metrobank Card Corporation
(MCC) remained a strong
player based on the latest
data from the Credit Card
Association of the Philippines
(CCAP). As of end-December
2018, MCC ranked:
• 2nd in terms of Receivables.
• 3rd in terms of Total
Number of Cards-in-Force.
• 3rd in terms of Merchant
Acquiring Billings.
Effective September
4, 2018, MCC became
a 100% wholly-owned
subsidiary of Metrobank,
after the bank acquired
the full 40% stake of its
previous joint venture
partner.
MCC became a licensed
General Insurance Agency on
June 1, 2018. This enabled MCC
to further grow the insurance
business and increase MCC’s
commercial scope. Its complete
corporate name is now
Metrobank Card Corporation
(A Finance Company and
General Insurance Agency).
Metrobank Card expanded
partnerships with
Alphanetworld Corporation,
Pisopay.com, AXA Philippines,
and Rusty Lopez to launch four
White Label Prepaid Cards:
NWorld Cash Card Reloadable
Prepaid Visa, Pisopay.com
Prepaid Visa, AXA Prepaid Visa,
Rusty Lopez Rewards Prepaid
Visa.
MCC partnered with China’s
top digital payment providers,
Alipay and WeChat Pay,
enabling local merchants using
MCC’s payment platform to
accept mobile payments from
thousands of visiting Chinese
consumers in the country, via
MCC’s point-of-sale terminals
with dynamic Quick Response
Codes.
Metrobank Card launched
PISO Trip exclusive for Victory
Liner Premiere Prepaid
VISA Cardholders. This was
a seat sale offer by MCC in
partnership with Victory Liner,
and the first-ever P1 seat sale
for land travel in the country.
In 2018, MCC improved the
digitalization of its promotions
with its partner merchants:
Winzone, Strike to Millions and
McDonald’s.
MCC re-launched the
Metrobank World Mastercard,
its most premium credit card,
at an intimate and exclusive
ball at the Grand Hyatt Manila,
Bonifacio Global City on
October 11, 2018.
Awards
Metrobank Card was awarded
the Gold Apple Award for
Credit Card Promotion of
the Year at the Robinsons
Supermarket Trade Partners
Night 2017 last March 7, 2018
at Crowne Plaza Manila Galleria.
MCC won four major awards
and two high commendations
from the recently concluded
Cards and Electronic Payments
International Asia Awards
(CEPI) 2018. The CEPI Asia
Awards Gala Dinner was held
at Hilton Singapore on the 6th
of September 2018.
• Yazz Prepaid Visa - Best
Prepaid Card Product for
Asia Pacific
• The Winzone - Best Brand
Engagement Programme
• Lead Generation Program
- Best Digital Marketing
Campaign
• VMware virtualization
and cloud solutions - Best
Technology Implementation
- Back End
• Highly Commended citation
for the Most Innovative
Digital Solution category
• Highly Commended citation
for the Best Card Offering
for South East Asia
Metrobank Card was awarded
the Philippines Best Employer
Brand Awards 2018 under the
Banking Sector category by the
Employer Branding Institute and
World HRD Congress.
MCC surpassed Asia’s standards
on customer satisfaction
for Financial Institutions.
MCC recently conducted a
Customer Satisfaction Survey
together with Kantar TNS
Philippines, the country’s largest
customized and leading market
research agency to local and
multinational brands. Based
on the concluded survey,
MCC surpassed the customer
satisfaction standard in Asia
and in Southeast Asia for the
Finance and Banking Sector.
The average performance and
preference benchmark score
for Asia is at 79, while Southeast
Asia is at 78. Metrobank Card’s
average score is at 94.
ORIX METRO Leasing and
Finance Corporation was
confronted with a host of
challenges that impacted
its financial performance in
2018. Against this challenging
backdrop, the company ended
fiscal year with PHP 1.300
billion in net income after tax,
an increase of 5.87% from last
year’s PHP 1.228 billion.
The company, owned by
Metrobank (40%), ORIX
Corporation of Japan (40%)
and First Metro Investment
Corporation (20%), achieved a
return on average equity (ROE)
of 17.52% this year versus an
average ROE of 20% for the
past years. Return on average
assets declined from 3.16% last
year to 2.72 percent this year.
ORIX METRO’s total group
resources grew from PHP
43.968 billion last year to
PHP 51.747 billion this fiscal
year. Total new bookings
47
amounted to PHP 34.917
billion compared to PHP
30.718 billion recorded in
FY 2017.
The company’s portfolio quality
remains healthy despite the
increase of its past due ratio
to 1.90% compared to 1.59%
in FY 2017. It maintained
its strict credit underwriting
process and prudent
portfolio management even
as the company aggressively
expanded its lending activities
in the countryside. In terms of
network, ORIX METRO ended
FY 2018 with 103 branches
compared to 98 last year.
Its wholly-owned subsidiary,
ORIX Rental Corporation
(ORC) which is engaged in
long-term full service operating
lease (FSOL) of cars and light
trucks, registered an income of
PHP 1.898 billion in FY 2018
compared to PHP 1.723 billion
in FY 2017.
THE FUTURE MADE POSSIBLE
As of 30 September 2018,
ORIX METRO’s total fleet
under FSOL and fleet
management is composed of
7,694 cars, pick-ups, vans and
light trucks.
ORIX METRO continues to
seek avenues of growth as the
company expands its branch
network, particularly in the
countryside. This expansion,
which has been on-going for
the past few years, will continue
as the company further
strengthens its coverage of
the small and medium-sized
enterprises (SMEs) in the
rural areas. ORIX METRO
also continually upgrades its
technology infrastructure and
improves processes in order to
better serve its clients.

AXA Philippines closed 2018
with a total premium income of
P29.7 billion and with around
1.5 million customers protected
under various individual and
group life insurance products,
as well as general insurance
products through its non-life
subsidiary Charter Ping An. The
year also marked the first time
that Charter Ping An, started
operating under the AXA
Philippines brand name.
AXA further expanded its
footprint in the country
with the opening of centers
in Cagayan De Oro City,
Cabanatuan City, and Pagadian
City. To date, it has established
close to a hundred branches
nationwide and has installed
more than 800 AXA Advisory
Corners in Metrobank and
PSBank branches within the
archipelago.
Early in 2018, the
AXA Shared Services
Centre-Philippines was
inaugurated. As one of the
IT hubs for AXA in Asia,
it has hired around 300
IT professionals, offering
innovations in customer
service to the AXA entities
that it serves.
The year also marked the
opening of the AXA Academy,
its newest state-of-the-art
facility that seeks to raise
the training of insurance
professionals to an unmatched
level of excellence in the
industry. Housed at the Bank of
Makati Building on Ayala Avenue
in Makati City, the AXA
Academy serves as the main
training hub for AXA agents
and employees.
AXA continued to widen its
product portfolio with the
launch of its latest offering,
Asset Master. Designed as a
single-pay, investment-linked
insurance plan, Asset Master
allows customers to build a
diversified investment portfolio
of local and global investments
— a solid foundation on which
to build one’s financial legacy.
AXA embarked on a brand
campaign towards the end
of 2018 with “Choose AXA,”
communicating the new
proposition that the company
now offers both life and general
insurance products to address
customers’ various needs all
under one roof, whether it’s
savings, retirement, business
protection, or motor security
that they need, to name a few.
Billboards and video ads bearing
48
the message ‘For all that you
value, choose AXA’ permeated
traditional as well as online
spaces nationwide.
AXA’s online insight community
MyAXA Café won silver at the
prestigious Efma-Accenture
Innovation in Insurance Awards,
an awards program that
aims to recognize the most
innovative projects, initiatives
and ideas in insurance around
the world. This same year,
AXA Philippines president and
CEO Rahul Hora was named
Outstanding Leader in Asia at
the Asia Corporate Excellence
& Sustainability Awards for
his outstanding business
acumen, professionalism, and
entrepreneurial skills.
In 2018, AXA celebrated
Corporate Responsibility Week
to include a countryside venue
for the first time. Nearly 450
employee-volunteers from
Manila and Cebu donated
their time and skills to touch
2,250 lives in partnership with
the Metrobank Foundation,
Hands On Manila, Philippine
Red Cross, and the University
of San Carlos Cebu, to name a
few. Outreach activities included
food packing, a blood drive, and
training sessions on first aid and
financial literacy.
First Metro successfully
completed 13 capital markets
deals in 2018, which included
the following names: Megawide
GMR Construction JV, Inc.,
SM Prime Holdings, Inc., San
Miguel Corporation, The
Philippine Stock Exchange,
Inc., Metropolitan Bank & Trust
Company, Bounty Fresh Group,
NLEX Corporation, Toyota
Financial Services Philippines
Corporation, Ayala land Inc.,
ORIX Metro Leasing and
Finance Corporation, Petron
Corporation, AEON Credit
Service (Philippines), Inc., and
Philippine Savings Bank.
FMIC was the sole arranger
for the P1 billion fixed rate
corporate notes issuance
of AEON Credit Service
(Philippines), Inc., a landmark
transaction in the domestic
capital markets. This was the
first-ever issuance in the
Philippines and second only
in the Asian region under the
ASEAN + 3 Multi-Currency
Bond Issuance Framework
(AMBIF) program. This
issuance was also the first
fully-guaranteed debt facility
of Credit Guarantee and
Investment Facility (CGIF)
in the Philippines, and the
first security by a Restricted
Issuer and Non-Reporting
Company in the Philippine
Dealing Exchange enrolment
system. The transaction was
awarded Best Benchmark Bond
Deal by regional investment
magazine Alpha Southeast Asia.
More than the many “firsts”
and the recognition from an
international publication, the
proceeds of the issuance will be
used for lending to individuals
with limited banking access,
thereby promoting financial
inclusion and helping alleviate
poverty in the country.
First Metro was awarded the
Philippines’ Best Equity House
and, for the second consecutive
year, the Best M&A House by
regional investment magazine
Alpha Southeast Asia at its
12th Annual Best Financial
Institutions Awards. During the
awards covered period, First
Metro participated in 60% of
the total publicly listed capital
markets transactions in the
Philippines, raising P29.8 billion
for the public and private
sectors. In the equity space,
First Metro completed two
stock rights offerings (SRO),
including the landmark P60
billion SRO of its parent
company, Metrobank, where it
acted as joint global coordinator,
joint bookrunner, issue
manager, and domestic lead
49
underwriter. In mergers and
acquisitions, First Metro served
as buy-side financial advisor
of Metrobank’s acquisition of
up to 40% stake in Metrobank
Card Corporation, the country’s
leading provider of credit cards.
First Metro received the Deal
of the Year award for the 20th
Tranche issuance of Retail
Treasury Bonds (RTB) at
the 2018 Investment House
Association of the Philippines
(IHAP) Awards. First Metro
was one of the joint issue
managers of the Bureau of the
Treasury’s biggest RTB issuance
to date.
FMIC and its stockbrokerage
arm First Metro Securities
Brokerage Corporation
(FirstMetroSec) reaped awards
at the 2018 PDS Annual
Awards. First Metro bagged
the Top Corporate Securities
Market Maker and ranked 3rd
in both the Top 5 Fixed Income
Brokering Participant and
Top 5 Fixed Income Dealing
Participant, while FirstMetroSec
got the 4th spot in the Top
5 Depository Brokering
Participant.
First Metro remained the
country’s leading bond house
as it received another slew
THE FUTURE MADE POSSIBLE
of awards from The Asset
Benchmark Research (ABR)
of Hong Kong. In ABR’s 2018
Asian Local Currency Bond
Benchmark Review, First
Metro ranked first as Top
Arranger, Investors’ Choice for
Government Primary Issues and
4th as Top Bank in Government
Bonds. For corporate issuances,
the investment house ranked
2nd as Top Bank in Corporate
Bonds and 4th as Top Arranger,
Investors’ Choice for Corporate
Primary Issues.
First Metro was awarded as
one of the top Government
Securities Eligible Dealer
Market Makers in 2018 by
the Bureau of the Treasury.
First Metro was the only
investment bank in the
top ten list. Along with
nine banks, First Metro
was commended for its
support to capital markets
development through its
presence in the primary
and secondary markets for
government securities.

In 2018, the Philippine Savings
Bank (PSBank) continued to
offer an array of innovative
products and services in
line with its commitment of
providing simple and reliable
banking services (Simple Lang.
Maaasahan). The bank launched
PSBank Flexi Personal Online
Loan Application, which allows
customers to apply online
for the country’s first and
only collateral-free personal
loan product with a revolving
credit line and a fixed term
loan. The bank also launched
PSBank Home Loan 1-day
credit decision, which provides
the fastest credit decision
on home loan applications
for the purchase of brand
new condominium units and
properties from accredited
developers.
The bank also implemented
various automation projects to
manage volume of transactions,
strengthen controls, improve
turn-around time and
enhance customer experience.
These automation projects
include an interface for auto
loans, enabling the bank to
automatically inquire, download
and display credit information
of individuals as reference
for credit decision; system
enhancements on pre-screening
process for auto and personal
loans applications where
additional scoring process
was done prior to credit
verification; system document
and settlement module for
auto and personal loans which
eliminated redundant review
processes; and an automated
queuing process for remedial
accounts and provided reports
on productivity and turn-around
time.
To enhance the bank’s
security measures, PSBank
also implemented security
initiatives for all ATMs intended
to prevent malware infection
and provide protection against
network intrusion. Further,
a pilot implementation of
PSBank’s anti-web defacement
system, which ensures the
integrity of the pages of the
bank’s internet-facing websites,
was undertaken. By storing a
protected and authorized copy
of the website’s files, the system
is able to detect unauthorized
change in the site’s files. The
system then will immediately
and automatically overwrite the
file with its trusted version. The
system is particularly useful in
automatically recovering the
site’s pages from unauthorized
changes or from any web
defacement attempt. The bank
also implemented 3D Secure
project, which provides another
layer of authentication for
Card-Not-Present (CNP) e-
commerce channel in line with
the adoption of multi-factor
authentication (MFA) security
system.
In compliance with the Bangko
Sentral ng Pilipinas’ mandate, the
bank also enabled fund transfers
between PSBank and other
bank accounts via InstaPay and
PESONet available through
PSBank Online or PSBank
Mobile app. In addition, the
bank also enabled its clients to
transfer funds from their PayPal
accounts to PSBank accounts.
PSBank and Metrobank
further enabled over 2,400
ATMs nationwide for Cardless
Withdrawal.
To sustain the steady flow of
ground-breaking products and
services, PSBank also launched
Innovolution, which provides
employees an avenue to
explore and harness concepts
and ideas to enhance internal
and external customers’
experience.
As a testament of PSBank’s
commitment to customer-
centricity in providing various
banking products and services,
the bank reaped in 2018 a
harvest of awards that include
recognition from the Bangko
Sentral ng Pilipinas (BSP) for its
excellence in responding and
addressing issues or concerns of
clients referred to the bank by
the BSP. PSBank was conferred
the Pagtugon Award for the
third time last year, following a
similar recognition from BSP in
2016 and 2015. The bank was
also recognized by the BSP
as a finalist in two categories
namely Outstanding PhilpaSS
Participant Servicing Customer
e-Payments for Thrift Banks
and Outstanding Partner for
Children’s Savings Mobilization.
Further, the bank was
recognized by the Institute of
Corporate Directors as among
top performing publicly-listed
company in the country based
on the 2017 ASEAN Corporate
Governance Scorecard (ACGS).
PSBank also gained recognition
at the 2018 CX Asia Excellence
Awards of the International
Quality and Productivity Center
(IQPC), which awarded the
bank with two Silver Awards
for Best Customer Experience
and Best Customer Experience
Team and two Bronze Awards
for Best Social Media Strategy
and Best Use of Mobile.
50
Summary of Financial Statements
(In Million Pesos, Except Per Share Amounts and Foreign Exchange Rates)
At the 2018 PANAta Awards,
the bank also snagged a
Bronze Award in Brand Builder
Excellence in Brand Positioning
category for its “Techie”
campaign.
In recognition of its HR-related
initiatives, PSBank was named
2018 Global Best Employer
Brand and given the Continuous
Innovation in HR Strategy at
Work award at the 2018 World
HRG Congress. The bank was
further named Philippines’
Best Employer at the 1st
Best Employer Brand Awards
while Facebook Workplace
recognized it with a Best Launch
Strategy Award in relation to
the deployment of Workplace,
the enterprise version of the
Facebook platform for its
employees.
In addition, PSBank was also
awarded two Silver Awards
at the 53rd Philippine Anvil
Awards for its PayMe “Sweldo”
situational commercial for
Public Relations Tool-Multimedia
Online Video category and for
its 2016 Annual Report, entitled
#WeAreWhereYouAre.
The bank further gained
two Awards of Merit at the
16th Philippine Quill Awards,
also for its PayMe “Sweldo”
situational commercial under
the Marketing, Advertising and
Brand Communication category
and for its 2016 Annual Report.
The bank ended 2018 with
250 branches and 575
ATMs nationwide.
At Year End Consolidated Parent Company
2018 2017 2018 2017
Total Assets 2,243,693 2,080,292 1,863,664 1,701,385
Loans and Receivables – Net 1,391,034 1,265,469 1,116,257 1,002,921
Investment Securities 416,353 387,797 334,917 302,717
Others 436,306 427,026 412,490 395,747
Total Liabilities 1,952,989 1,876,202 1,570,901 1,494,759
Deposit Liabilities 1,556,753 1,527,962 1,325,991 1,313,947
Demand 355,473 344,708 322,371 314,542
Savings 609,471 605,508 577,815 576,807
Time 548,019 547,721 390,475 395,948
Long-Term Negotiable Certificates of Deposit 43,790 30,025 35,330 26,650
Others 396,236 348,240 244,910 180,812
Total Equity 290,704 204,090 292,763 206,626
Attributable to:
Equity Holders of the Parent Company 282,960 201,955 292,763 206,626
Other Equity Reserves – (7,400) – –
Non-Controlling Interest 7,744 9,535 – –
Book Value Per Share (BVPS) 71.11 63.52 73.57 64.98
Foreign Exchange (USD:PHP)
Closing Rate 52.581 49.932
Weighted Average Rate 52.681 50.412
1
per Bankers Association of the Philippines
2
per Philippine Dealing System
For the Year Consolidated Parent Company
2018 2017 2018 2017
Net Interest Income 68,822 61,406 42,328 36,493
Interest Income 97,186 80,322 60,321 48,011
Interest Expense 28,364 18,916 17,993 11,518
Non-interest Income 23,784 22,836 18,426 16,858
Service Charges, Fees and Commissions 12,695 11,045 4,954 4,171
Trading and Securities Gain (Loss) - Net 2,541 (402) 3,041 (1,079)
Foreign Exchange Gain (Loss) - Net 210 4,257 (66) 4,101
Leasing 2,252 2,129 224 215
Income from Trust Operations 1,290 1,377 1,259 1,351
Other Non-interest Income 1
4,796 4,430 9,014 8,099
Total Operating Income 92,606 84,242 60,754 53,351
Total Operating Expenses 61,426 54,982 34,262 30,613
Provision for Credit and Impairment Losses 7,770 7,507 807 1,395
Other Operating Expenses 53,656 47,475 33,455 29,218
Provision for Income Tax 7,745 7,990 4,484 4,515
Net Income 23,435 21,270 22,008 18,223
Attributable to:
Equity Holders of the Parent Company 22,008 18,223
Non-controlling Interest 1,427 3,047
Basic/Diluted Earnings Per Share (EPS) Attributable to
Equity Holders of the Parent Company 5.83 5.622
1
Includes share in net income of subsidiaries, associates and a joint venture
2
Restated to show the effect of stock rights issued in 2018
For the Year
Consolidated
2018 2017
Parent Company
2018 2017
Net Interest Margin
Return on Average Equity
3.8%
9.1%
3.8%
9.2%
3.0%
8.8%
2.9%
9.1%
Return on Average Assets 1.0% 0.9% 1.2% 1.1%
Non-performing Loans Ratio 1.2% 1.0% 0.7% 0.6%
Capital Adequacy Ratio 17.0% 14.4% 15.8% 13.5%
Tier 1 Capital 14.6% 11.8% 13.3% 10.8%
Common Equity Tier 1 14.6% 11.8% 13.3% 10.8%
51
 BOARD OF DIRECTORS
Solomon S. Cua
Director
Director since April 2018
63 years old
Vice Chairman/Director, Philippine
Racing Club, Inc.*
Chairman, Philippine AXA
Life, Inc.
Chairman, Charter Ping-An
Insurance Corp.
Director, Profriends Developer, Inc.
Director, Grand Titan Capital
Holdings, Inc.
Former Undersecretary of The
Department of Finance
Masters of Laws, London School
of Economics & Political Science
* Publicly Listed
Robin A. King
Independent Director
Director since August 2011
71 years old
Director, Makati Sports Club
Trustee, Asiapro Foundation
Former Independent Director,
First Metro Investment Corp.
Former Independent
Director,Toyota Financial
Services Philippines
Corporation
Former President/Director, Global
Bank Phils.
MBA, Finance, University of the
Philippines
Dr. Jesli A. Lapus
Independent Director
Director since August 2010
69 years old
Director, STI Education Systems
Holdings Inc.*
Chairman, STI Education Services
Group Inc.
Chairman – Center for Tourism,
Asian Institute of Management
Independent Director, Philippine
Life Financial Assurance
Corporation
Chairman, LBP Service
Corporation
Former Secretary, Department of
Trade and Industry
Former Secretary, Department of
Education
Former President/CEO/ Land
Bank of the Philippines
MBM, Asian Institute of
Management
Francisco F. Del Rosario, Jr.
Independent Director
Director since April 2013
71 years old
Director, DMCI Homes, Inc.
Trustee, ABS-CBN Foundation
Chairman, Institute for Solidarity
in Asia
Senior Executive Director, PWC
Isla Lipana
Former Cabinet Member, Habitat
for Humanity Philippines
Former President, Management
Association of the Philippines
Former Vice Chairman/President/
CEO, Development Bank of the
Philippines
Former Undersecretary for
Finance, Department of
National Defense
MBM, Asian Institute of
Management
52
Fabian S. Dee
President/Director
President/Director since April
2012 (also served as Director
from September 2007 to
March 2011)
56 years old
Chairman, Metrobank Card
Corporation
Chairman, Metro Remittance
Singapore PTE Ltd.
Chairman, LGU Guarantee
Corporation
Director, Bancnet, Inc.
Trustee, Metrobank Foundation, Inc.
BS Management Engineering,
Ateneo de Manila
Francisco C. Sebastian
Vice Chairman
Director since April 2002
64 years old
Co-Vice Chairman, GT Capital
Holdings, Inc.*
Director, Metro Pacific
Investments Corporation*
Chairman, First Metro Investment
Corp.
Chairman, First Metro Asset
Management Inc.
Director, Property Company of
Friends Inc.
Director, Federal Land, Inc.
AB Economics, Ateneo de Manila
Arthur Ty Alfred V. Ty
Chairman Director
Director since April 2002 Director since September 2015
52 years old 51 years old
Chairman, GT Capital Co-Vice Chairman, GT Capital
Holdings, Inc.* Holdings, Inc.*
Vice Chairman, Philippine Vice Chairman, Metro Pacific
Savings Bank* Investments Corporation*
Vice Chairman, First Metro Vice Chairman, Toyota Motor
Investment Corp. Philippines Corporation
Vice Chairman, AXA Philippines Chairman, Lexus Manila, Inc.
Chairman, Metropolitan Bank Chairman, Federal Land, Inc.
(China) Ltd. Chairman, Property Company of
MBA, Columbia University, Friends, Inc.
New York BS Business Administration,
University of Southern
California
Edgar O. Chua
Independent Director
Director since April 2017
62 years old
Independent Director, Integrated
Micro-electronics, Inc. *
Independent Director, Energy
Development Corporation*
Trustee, Pilipinas Shell
Foundation, Inc.
Chairman, De La Salle
University Board
Chairman. Makati Business Club
Chairman, Philippine Business for
the Environment
President and CEO, Cavitex
Holdings Inc.
BS Chemical Engineering, De La
Salle University
53
Edmund A. Go
Director
Director since May 2007
68 years old
Advisor, Philippine Savings Bank*
Director for Investments, Ateneo
de Manila University
Director, Metropolitan Bank
(China) Ltd.
Investment Consultant, St. Peter
Life Group
MBM, Asian Institute of
Management
THE FUTURE MADE POSSIBLE
Rex C. Drilon II Vicente R. Cuna, Jr.
Independent Director Director
Director since August 2012 Director since April 2014
72 years old 56 years old
Vice Chairman, Institute of Head, Enterprise Services Sector
Corporate Directors Former President, Philippine
Trustee, Institute for Solidarity Savings Bank*
in Asia Former Director, First Metro
Former President/Director, Cebu Investment Corporation
Holdings, Inc. * AB Economics, De la Salle
Former President/Director, University
Cebu Property Ventures and
Development Corporation *
Former Chief Operating Officer,
Ortigas & Company
Former Independent Director,
First Metro Investment Corp.
Chairman, Keyland Corporation
Chairman, YLD Holdings, Inc.
BS Business Administration,
University of the East
BOARD OF ADVISERS THE FUTURE MADE POSSIBLE

SENIOR
ADVISERS Hon. Fidel V. Ramos
Senior Adviser
Hon. Artemio V. Panganiban
Senior Adviser
James Go
Senior Adviser
Carlos S. Chan
Senior Adviser
Former President, Republic of the Philippines Retired Chief Justice, Supreme Court of the Adviser, Metrobank Foundation, Inc. Chairman, Liwayway Marketing Corp.
Philippines Chairman, Chan C. Bros, Inc.
Chairman, Board of Advisers, Metrobank Chairman, Liwayway (China) Co., Ltd.
Foundation, Inc. Special Envoy of the President for the People’s
Republic of China

ADVISERS

Gabriel Chua Dr. Placido L. Mapa, Jr. David O. Chua Cornelio C. Gison
Dr. David K.P. Li Adviser Adviser
Senior Adviser Senior Adviser Senior Adviser
President, Solid State Multi Products Corp. Senior Adviser, Metrobank Foundation, Inc. President, Cathay Pacific Steel Corp. Former Undersecretary, Department of
Chairman/CEO, Bank of East Asia, Ltd. Finance
Chairman, University of Asia & the Pacific Trustee, University of the East
Hong Kong
Trustee, University of the East – Ramon
Magsaysay Memorial Medical Center, Inc.
Vice President, Federation of Filipino-Chinese
Chambers of Commerce and Industry, Inc.
Former Director, Philippine Stock Exchange

54 55
SENIOR OFFICERS THE FUTURE MADE POSSIBLE

Senior Officers
Standing (L to R):
EVP Maritess B. Antonio • EVP Vivian L. Tiu SVP Digs A. Dimagiba

Financial Market
SVP Bernardino D. Ramos • EVP Corazon Ma. Therese B. Nepomuceno

Sitting (L to R):

Sectors
EVP Aniceto M. Sobrepeña • SVP Homer Gerrard L. Ortega• SVP Jette C. Gamboa
EVP Paul Robert Y. Murga • SVP Christine W. Yang • SVP Stephen S. See

Financial Markets Sector

Standing (L to R):
SVP Leandro Antonio G. Santillan
SVP Anthony Paul C. Yap
SVP Edgar Alan P. Guerrero

Sitting (L to R):
SVP Maria Lizette B. Perez
SEVP Fernand Antonio A. Tansingco
SVP Angelica S. Reyes

56 57
SENIOR OFFICERS THE FUTURE MADE POSSIBLE

Institutional Banking Sector Financial and Control Sector

From L to R:
Standing (L to R):
SVP Marilou C. Bartolome
SVP Leopoldo M. Ubaldo
SEVP Joshua E. Naing
SVP Nelson G. See
SVP Quintin T. Medrano, Jr.
SVP Pocholo V. Dela Peña
EVP Amelin S. Yao

Sitting (L to R):
SVP Mary Rose S. Tiamson
EVP Mary Mylene A. Caparas
SVP Antonio R. Ocampo, Jr.
SVP Ferlou I. Evangelista

Not in photo:
SVP Fermin T. Chio

Retail Banking Sector

Standing (L to R):
SVP Teresita L. Dy
SVP Melizza Doris L. Guiao
SVP Flordeliz T. Kwan
SVP Susan L. Niere

Sitting (L to R):
SVP Manolito M. Osorio
SVP Lita S. Tan
EVP Richard Benedict S. So
SVP Emmeline D. Go

58 59

Senior Officers List
FIRST VICE PRESIDENT
Abellar, Ma. Lourdes P.
Abes, Kathryn Francis B.
Ajos, Jay Nazarene Christene A.
Alcantara, Allen D.
Almeda, Mary Jacqueline Justina H.
Antonio, Leilani Anacleta F.
Arjonillo, Carolina K.
Bartolo, Eden L.
Buenavista, Grace C.
Burgos, Reynaldo C.
Capili, Judy Grace D.
Capulong, Jovencio R.
Centena, Mia S.
Chan, Marie Chorie Candice R.
Chua, Claudine U.
De Santos, Justina Ma. Teresita M.
De Vera, Rosanna F.
Dionisio, Rommel Enrico C.
Esguerra, Samuel D.
Fajardo, Ma. Theresa A.
Fragante, Leo R.
Garcia, Jose Ramon C.
Gatchalian, Edna D.
Koa, Alicia K.
Lao, Carolyn T.
Lim, Mary Joyce S.
Lindo, Ely Roy B.
Lu, Dennis Lawrence T.
Lugue, Manolo T.
Malagar, Kathryn Kay T.
Maraingan, Rey T.
Mariano, Federico T.
Matriano, Romulo, Jr. M.
Navarra, Jasmine E.
Ng, Natalie T.
Ochoa, Marie Antoinette M.
Ong, David S.
Orlino, Christian Paul Philippe D.
Oxales, Maria Lourdes Veronica C.
Padilla, John L.
Palao, Katherine G.
Pedrosa, Ricardo N.
Reyes, Christopher Hector L.
Rivera, Elmer R.
Rivera, Melanie N.
Roxas, Cynia C.
Salcedo, Rosana R.
San Juan, Christian D.
Sevidal, Raquel N.
Simbulan, Mylene S.
Siriban, Cynthia P.
Sta. Ana, Lalaine C.
Tan, Irene Y.
Tan, Roseanne T.
Tobias, Benigno G.
Tolentino, Lorna Y.
Trinidad, Maria Elena Z.
Ty, Zandra M.
Urbiztondo, Rey C.
Vasco, Jose Antonio O.
Victoriano, Randell D.
Villanueva, Paul Donato V.
Wong, Jay S.
Xu, May Sherri M.
Yuseco, Noel Peter Z.
Zamora, Anthony Albert M.
Zamora, Ruben L.
VICE PRESIDENT
Abueg, Alona A.
Alcantara, Jose Miguel Paolo F.
Alcid, Myleen D.
Alejandrino, Randy A.
Alincastre Jr., Celso Manuel G.
Amiscaray, Gina Rowena V.
Arellano, Hector B.
Arenas, Celina A.
Balagtas, Dennis Edmund E.
Balatbat, Armelyn G.
Bandong, Angela Juvy C.
Barlis, Armand B.
Bautista, Dionnette P.
Bautista, Ildemarc C.
Bauto, Ramoncito O.
Beltran, Ma. Jizzelle Lee M.
Berbaño, Noel L.
Bernabe, Laarni D.
Bormate, Rebecca B.
Cabral, Emmanuel R.
Cagurangan, Jose Mari S.
Calumpang, Eric A.
Carreon, Reynilo M.
Chan, Susana Y.
Chiong, Easter Angela S.
Chiu, Mary Ann K.
Cirujano, Edralino G.
Co, Cristina G.
Cocabo, Jinnah E.
Coloma, Ma. Teresa A.
Concepcion, Crisanto M.
David, Jaqueline L.
De Guzman, Lyn L.
De Leon, Patricia May P.
De los Reyes, Jonas R.
De Sagun-Madrid, Criselda Q.
De Venecia III, Marcelo R.
Dela Cruz, Margareth Luz C.
Delizo, Ricardo S.
Espino, Donato V.
Faustino, Joseph S.
Fernandez, Ma. Carlota C.
Florendo, Eugenia A.
Francisco, Criselda N.
Gan, Grace P.
Gatuslao, Geralyn Q.
Gloriani, Emelita A.
Go, Maria Elena R.
Go, Nathaniel D.
Herradura, Renalita L.
Icban, Ma. Theresa V.
Lecaros, Arnold A.
Legaspi, Elizabeth B.
Legaspi, Elizabeth D.
Leh, Paul Terence T.
Leung, Ramir M.
Liao, Ma. Theresa E.
Lim, Walter C.
Lim, William C.
Liwanag, Fina Victoria S.
Lomigo, Happy Mar S.
Lustre, Gemma Theresa A.
Mangaban, Neliza B.
Manzano, Ma. Imelda L.
Mapa, Juan Placido III, T.
Matibag, Virgin Glore E.
Mayor, Maria Ana S.
Medalla, Maria Nelia S.
Mercado, Rizaldo G.
Millonado, Maida Lourdes E.
Mozo, Michelle Anne G.
Ong, Maria Rita Purificacion V.
Ongsiaco, Edna O.
Pamaran, Mary Rose R.
Panlilio-Amoranto, Janella Marie R.
Pascioles, Arnulfo, Jr. B.
Pasimio, Mikael Angelo S.
Payabyab, Ener F.
Pelayo, Shirley S.
Pineda, Angelo Emmanuel N.
Portugal, Jocelyn Joy Y.
Pua, Ivan Charlton U.
Que, Marilou P.
Que, Winny S.
Rabot, Joel U.
Reyes, Ma. Imelda A.
Reyes, Maria Sharon C.
Rivera, Teddy D.
Rosette, Edita E.
Roxas, Anna Sylvia E.
Roxas, Eriberto Pedro Antonio C.
Ruiz, Cynthia G.
Salazar, Robert Manuel B.
Salientes, Rodolfo J.
Samaniego, Chad Aaron R.
Samonte, Angela Esperanza M.
San Miguel, Rolando L.
Sanchez, Enrico E.
Santiago, Eduardo R.
Santos, Ruben L.
Santos, Vanessa Grace Y.
Santos, Veronica C.
Seludo, Mary Grace J.
Siapuatco, Ma. Dolores L.
Sio, Midel A.
Siochi, Reynaldo C.
Tan, Helen L.
Tan, Jennifer G.
Tan, Leny C.
Tan, Mary Janet S.
Tee, Elsa U.
Tenorio, Florencio A.
Tiongson, Carmelita A.
Tiu, Betty T.
Trinidad, Anna Maria C.
Untal, Alexander C.
Valencia, Edwin M.
Valenzuela, Ma. Gingili A.
Villa, Hector M.
Villegas, Cynthia G.
Yabut, Mark Dexter D.
Yap, Sydney Thaddeus K.
Yee, Mary Ruth Frances M.
Ypil, Charito N.
Yu, Zenaida R.
ASSISTANT VICE PRESIDENT
Abarintos, Edda Rea C.
Acopiado, Ma. Lourdez A.
Aguilar, Angelito F.
Alday, Jarold S.
Alejandro, Vilma S.
Amantillo, Ma. Concepcion A.
Andres, Zenaida S.
Ang, Maria Jennifer P.
Ang, Michelle U.
Angala, Maria Salome P.
Angco, Ronaldo D.
Angob, Maria Socorro T.
Anot, Jr., Alfredo D.
Antiporda, Susan Q.
Antonio, Rodolfo E.
Anunciacion, Dante P.
Aquino, Roland Raphael A.
Atraje, Maria Teresa S.
Avila, Michael R.
Awa, Renato, Jr. V.
Azada-Chua, Maria Cynthia K.
Balajadia, Ma. Cecilia C.
Baltazar, Airah S.
Basconcillo, Priscilla S.
Bertulfo, Jinalyn R.
Bilasano, Jasmin S.
Biyo, Alma D.
Borce, Susan C.
Bosita, Anna Gael D.
Cabaero, Claro B.
Calderon, Estela S.
Candelaria, Liv Ivy Lane P.
Canicula, Jesus B.
Canlas, Clair Aquin Ned P.
Capacillo, Joyce L.
Carag, Placido A.
Cardillo, Hernando S.
Carpio, Daryl L.
Casalo, Janice Anne E.
Castillo, Teodoro
Castro, Miriniza C.
Celo, Jessica C.
Chan, Policarpio S.
Chu, Cherry Joy S.
Chua, Helen C.
Chua, Marianne T.
Chuaunsu, Merriam Josephine
Socorro M.
Cledera, Jean L.
Co, Agnes C.
Constantino, Marilyn M.
Cordero, Eufrocina C.
Cruz, Darius M.
Cruz, Dennis Ryan V.
Cuenca, Lirio Luna D.
Cumigad, Edward C.
Curato, Raymund D.
Curso III, Vicente B.
Cuyugan, Ruth C.
Dampitan, Maria Arlene A.
David, Joseph C.
De Castro, Ma. Theresa N.
De Guia, Florinda L.
De Jesus, Jude Martin Peter S.
De Jose, Jane D.
De Leon, Bernard M.
De Vera, Dinna B.
Del Moral, Dorotheyo B.
Dela Cruz, Jon Sherbert G.
Dela Victoria, Evelyn G.
Delos Santos, Ma. Victoria D.
60
Diesmos, Adonis Manuel C.
Dimatatac, Wivina R.
Divinagracia, Maria Cecilia T.
Dizon, Mervin S.
Domingo, Arnel F.
Enriquez, Albert T.
Escobar, Lourdes N.
Eustaquio, Christopher John H.
Fabul, Monette A.
Fernandez, Ferdinand B.
Florendo, Steve V.
Francisco, Ma. Elizabeth A.
Fresnido, Gregorio III B.
Gabor, Melissa K.
Gabriel, Eloisa A.
Galang, James Royce C.
Galano, Romeo V.
Garcia Jr., Rolando Paul C.
Garcia Jr., Romeo M.
Geronimo, Alizzabeth O.
Geronimo, Isidro A.
Gloria, Arthur Robert C.
Go, Andrew Michael G.
Golangco, Margaret C.
Gonzales, Cromel D.
Gonzales, Iris B.
Gregorio, Arleen Gay L.
Grey, Bianca Denise J.
Haveria, Melchor F.
Heceta, Julita Corazon M.
Henson, Juan Marco S.
Herico, Laarni L.
Hernandez, Maria Zarah C.
Herrera, Jose Emmanuel K.
Ileto, Olivia Z.
Isip, Jose Mari V.
Jiang, Peggy S.
Jose, Dino R.
Jose, Martin M.
Junio, Judy Minda O.
Kaamiño, Francis Joseph P.
Kua, Francis W.
Kua, Sharon B.
Lariosa, John Benecer III, R.
Larlar, Francis Rene B.
Lasala, Maria Celeste F.
Laudico, Laurence John D.
Lawenko, Maria Lourdes Concepcion U.
Leonardo, Carilla S.
Leyson, Amelyn O.
Lim, Steve Robertson L.
Limpin, Irmino Noel R.
Llave, Baby Amor R.
Lo, Christy T.
Lopez, Pamela Kristine L.
Lucido, Mirasol C.
Lukban, Lilibeth N.
Macabidang, Eloisa S.
Macalalad, Raul S.
Maddatu, Rodrigo Albert D.
Madlangbayan, Reyni D.
Madrazo, Alma E.
Magbual, Eugenio R.
Magpayo, Ruth Salome A.
Magsalin, Ma. Dulce D.
Malan, Joel Julio M.
Mampusti, Ariel D.
Manansala, Fernando Jose T.
Manzano, Ivy Din A.
Marasigan, Teresita O.
Mariano, Evelyn D.
Mariano, Ernest Michael, Jr. L.
Mariano, Jose Bayani T.
Mariano, Marian Louise F.
Medina, Augusto, Jr. G.
Mendez, Diana Lou N.
Mendiola Jr., Ernesto E.
Mendoza, Alexander P.
Mercado, Maureen S.
Mir, Marjorie N.
Muñoz, Antonio T.
Nagasan, Nerisa D.
Navarrete, Nikki Rose A.
Navarro, Don Manolo M.
Nazareno, Algen F.
Ngo, Ma. Victoria G.
Nicdao, Ramon P.
Nieto, Anabel N.
Oliquino, Senen M.
Oliva, Erwin Lemuel G.
THE FUTURE MADE POSSIBLE
CONTACT
INFORMATION
Oppus, Louie T.
Osol, Ludivico G.
Osorio, Melchor V.
Paatan, Yagtan Kenin S.
Pacaña, Evangeline U.
Padilla, Jr., Lamberto M.
Pador, Flossie Mae G.
Padua, Myla S.
Palma Jr., Rogelio V.
Panogan, Hrothgar M.
Pantallon, Mark S. For inquiries on dividends, stock certificates, and related matters: EASTERN – 63555 METMKT PN (TELEX)
Parreño, Joyce P.
Pascual, Ruel A. FAX +632 817 6248
Patangan Jr., Vicente C. STOCK TRANSFER SECTION
Pecaña, Genevieve C.
Pegenia, Jacky Lyn A. Metrobank Trust Banking Group, Member of the Philippine Deposit Insurance Corporation (PDIC)
Pelaez, Joseph Eric D. 16th Floor Metrobank Center
Pineda, Patricia Carmen D.
Pios, Erickson D. 35th Street corner 7th Avenue, Bonifacio Global City, A proud member of Bancnet
Plata, Lorelei P. Taguig City, Philippines 1634
Po, Cristina Y.
Ponce, Anna Katrina Y. Telephone: +632 857 5299 Head Office:
Porcel, Harold P. +632 857 5695 Metrobank Plaza
Quesada, Nencie A.
Quiñanola, Romberg E. Fax: +632 858 8517 Sen. Gil Puyat Avenue
Quismundo, Victor M. Email: tbg-tasd@metrobank.com.ph Makati City, Philippines, 1200
Raga, John
Ramos, Anna Victoria B.
Ramos, Fe O. To know more about the Bank’s business, recent performance
Ramos, Randolph John C.
Resurreccion, Cynthia C. and significant developments:
Reyes, Ma. Glenda Y.
Reyes, Maurita C.
Rigodon, Eugene Celeste M. INVESTOR RELATIONS
Rodriguez, David Lloyd D. Strategic Planning Division,
Roque, Maria Emily R.
Rosana, Carlos E. 11th Floor Metrobank Plaza
Rosario, Bernadette S. Sen. Gil Puyat Avenue,
Rosario, Rolando G.
Rubiano, Susanna L. Makati City, Philippines 1200
Saldua, Josephine A. Telephone: +632 857 9783
Salenga, Michele B.
Salonga, Enmar S. Fax: +632 817 6355
Salvador, Maria Virna A. Email: investor.relations@metrobank.com.ph
Samonte, Helen A.
Sanagustin, Jose Luis S.
Sanchez, Irish G. CORPORATE COMMUNICATIONS
Sandil, Ricardo L.
Santos, Jose Enrico S. 19th Floor Metrobank Plaza
Santos, Krislyn H. Sen. Gil Puyat Avenue,
Santos, Ma. Milagros Laureta D.
Sayo, Leomel C. Makati City, Philippines 1200
Sierra, Diana O. Telephone: +632 857 5526
Sinay, Jeanilyn A.
Sinay, Roseminia R. Fax: +632 893 3726
Singanon, Sophia Monica G. Email: corpcom@metrobank.com.ph
Sioson, Michelle Odette D.
Siy, Vida Jordana C.
Sowy, Maria Theresa Z. For general inquiries, action on requests and customer comments:
Suarez, Alma V.
Suarez, Maria Victoria A.
Suplico, Maria Ava Sharone S. 24/7 CONTACT CENTER
Sy, Janet U.
Tan, Catherine C. Metro Manila: +6328700700
Tan, John Paul V. Domestic Toll Free: 1 800 1888 5775
Tan, Vivien V.
Tantuan, Mercy M. Email: customercare@metrobank.com.ph
Teodoro, Denny L.
Tigas, Anna Melissa U.
Tuason, Geoffrey V. For Head Office Center units and directory assistance:
Tuason, Maria Angelica D.
Uy, Archie L.
Uyboco, Mercedes Desiree P. HEAD OFFICE TRUNKLINE
Valencia, Alfredo P. Telephone: +632 898 8000
Valeriano, Ma. Michelle S.
Varquez, Esther T. +632 857 0000
Velez, Ma Christina A.
Verceles, Josefina Janet F.
Villanueva, Marlon L. www.metrobank.com.ph
Villaruel, Helen B.
Wenceslao, Violeta D.
Wilwayco, Rowena R. Metrobank is the country’s premier universal bank, with an
Wong, Charlene U. extensive consolidated network that spans over 2,300 ATMs
Yap, Francisco P.
Yap, Jose Conrado Ildefonso R. nationwide, more than 950 domestic branches, and 31 foreign
Yapson, Ma. Socorro L. branches, subsidiaries and representative offices.
Yrureta, Daisy C.
Yuson, Jr. Inocencio Y.
61
 DR. GEORGE S.K. TY
Visionary founder
Sincere business partner
Generous philantropist
He founded Metrobank and built it based on the philosophy of helping others.
56 years later, it has become one of the most enduring legends of entrepreneurship in the country.
For him, business was more than just about making money, it was about trust and relationships.
He lived by an unwavering set of principles in all aspects of his life.
Dr Ty’s legacy of business leadership is now in the hands of the next generation.
We will honor his memory by committing to keep all our customers and stakeholders in good hands.
On behalf of the Officers and Staff of the Metrobank Group,
thank you and God speed our beloved Group Chairman.

placement reference for CD holder

Head Office: Metrobank Plaza
Sen. Gil Puyat Avenue
Makati City, Philippines 1200