Metrobank-Globalbank Merger

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Merger of Metrobank & Globalbank

Table of Contents

History of Global Business Bank.............................................................................................................. 2 History of Metropolitan Bank & Trust Corp............................................................................................. 3 History at the time of the Merger.............................................................................................................. 4 Reasons for Merger ................................................................................................................................... 6 Financial Statements before the Acquisition .......................................................................................... 7 Board of Directors .................................................................................................................................... 22 Approval by BSP ...................................................................................................................................... 25 Ranking Before & After the Acquisition ................................................................................................. 26 Current Status of the Surviving Bank .................................................................................................... 27 Major Financial Highlights: ...................................................................................................................... 28

1

History of Global Business Bank
Globalbank, formely Philbank, traces its roots in Tanauan, Batangas where in 1935 a group of public school teachers formed a mutual savings and loan association to fight usury and promote the concept of savings. Soon after the creation of the Central Bank, the association was converted into a commercial bank, the first ever to be established outside Manila. In view of its fast growing clientele, the bank transferred its office to Binondo, Manila in 1957 and was renamed The Philippine Banking Corporation. Regarded as a pioneer of full service commercial banking, Philbank became ultimately known as a “People for People” bank – a strong, collaborating partner of the Filipino people. During its 65 year of dedicated service, Philbank remained an institution that managed to grow in the face of adversity. Globalbank was established on April 16, 1997 as a joint venture of Metropolitan Bank & Trust Company, the country’s premier universal bank, and Tokai Bank, Ltd. (now UFJ Bank), then one of Japan’s largest banks. Backed by the resources and expertise of these two formidable banks, Globalbank started commercial operations on June 3, 1997 directing its marketing efforts to high-end local corporations, Japanese multinational corporations based in the Philippines and selected medium-scale business. Its merger with Philbank on May 2, 2000 greatly accelerated its growth and reach as a member of the Metrobank Group of Companies. On December 22, 1999, Globalbank entered into a Share Purchase Agreement of 100% of equity of Asianbank , a universal bank formed, owned and managed by A. Soriano Corporation and the Phinma Group of Companies as principal stockholders. The sale was consummated on February 29, 2000. On May 22, 2000 all operating assets and liabilities of Asianbank were formally assigned to Globalbank in effect integrating the day-to-day operations of Asianbank. Thereafter, a final request to merge Asianbank with Globalbank was filed with the BSP which was formally approved by the Monetary Board on August 31, 2000 and by the SEC on October 23, 2000. Led by a team of competent professional bankers, the bank took pride in its customer-oriented outlook and its well-motivated and highly-trained workforce which provided fast, efficient and friendly service. Seasoned bankers with varied individual skills made up the professional bank’s senior management. Under the stewardship of prominent Filipino-Chinese...
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