Metrobank, PSBank to add 30 branches in 2013
MANILA, Philippines - Ty-led Metropolitan Bank and Trust Company (Metrobank), the Philippines' second largest bank, plans to widen its banking operations by opening additional 30 branches in the provinces in 2013.
"The plan is to add at least 30 branches in 2013. The idea is to open (these branches) in regional areas, mostly in the countryside," Metrobank's strategic planning division head Jette Gamboa said in a press briefing on Monday, April 15.
The 30 additional branches will be for parent Metrobank and thrift arm Philippine Savings Bank (PSBank).
The expansion project will bring the company's consolidated domestic network to 858 branches in 2013, the largest in the country.
In 2012, the banking group opened additional 43 new Metrobank and PSBank branches nationwide.
Gamboa said average cost to put up each new branch is around P25 million.
She, however, said that costs will still depend on the location of the branch as well as its size when constructed.
The bank's domestic portfolio, aside from the current 828 branches, include 1,760 Automated Teller Machines (ATMs).
Internationally, Metrobank has 6 full-service branches, 28 subsidiaries and offices and 110 remittance correspondents arrangements. - Rappler.com
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