Founded in September 5, 1962, Metropolitan Bank & Trust Co. (Metrobank) has since become the premier universal bank and among the foremost financial institutions in the Philippines. It offers a full range of banking and other financial products and services, including corporate, commercial and consumer banking, as well as credit card, remittances, leasing, investment banking and trust banking. Metrobank currently spans a consolidated network of over 1,400 ATMs nationwide; over 760 domestic branches; and 38 foreign branches, subsidiaries, and representative offices.
Metrobank was incorporated in Binondo, Manila by a group of Filipino businessmen principally to provide financial services to the Filipino-Chinese community. It opened its first local branch in 1963, and then expanded beyond Philippine shores only a few years after its establishment. Metrobank rolled out its first international branch in Taipei in 1970 and a representative office in Hong Kong in 1973. In 1975, Metrobank became the first of the private banks to move into American territory when it opened its office in Guam. It later established branches in the United States mainland cities of Los Angeles and New York. A recognized leader in the country’s banking industry. Metrobank has become regarded as the trusted banking partner, staying true to its brand promise of “You’re In Good hands”.
Porters Five Competitive Forces
1. Potential New Entrants
New potential competitor are always a threat to any industry, other possible threat include: changing demographics/shifting demands, emergence of cheaper technologies and regulatory requirements. In keeping with the aspect of economies of scale, threat of new entries would be low since minimum size of operations for banks to keep it profitable is quite high. Threat of new entrants is low since setting up a new business such as bank needs a lot of capital investment not to mention the technogy...