Tuesday, June 06, 2006
Metropolitan Bank & Trust Company, the country’s leading bank in resources, is consolidating its remittance operations handled by its subsidiaries in Europe to strengthen its remittance business in the continent and the United Kingdom.
Carmelita R. Araneta, Metrobank’s head of the International Offices and Subsidiaries Group, identified the remittance companies that will comprise the bank’s consolidated operations in Europe. They are Metro Remittance Center, S.A. in Barcelona, Spain; Metro Remittance Center (Italia) S.p.A. with offices in the key cities of Rome, Milan and Bologna; Metro Remittance UK in London, and MBTC Exchange Service GmbH in Vienna, Austria.
“The set-up will further strengthen Metrobank’s remittance business in Europe and allow the bank to tap new markets for its other products and services,” Araneta said.
The bank reported double-digit growth in volume and value of European remittances in 2005.
Araneta reported that Metrobank has embarked on aggressive marketing activities for the Chinese and Filipino communities in Europe.
The bank is also relocating its remittance centers in Italy to generate more remittance volume.
“Strategic alliances and tie-ups have also been formed with local Italian banks and local banks in Europe for easier access by remitters,” Araneta said.
Metrobank has 35 international branches and offices in Taiwan, Shanghai, Japan, Korea, Guam, the United States, Hong Kong, Singapore and the Bahamas, including the European operations.
--Maricel E. Burgonio
http://www.manilatimes.net/national/2006/june/06/yehey/business/20060606bus9.html
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