First Metro bares new business strategy

MANILA, Philippines — First Metro Investment Corp., the investment banking arm of the Metrobank Group, is embarking on a new business strategy as it adapts to the changing market and business environment.

“In view of the changes in the market and overall business environment, the evolving regulatory conditions, and realignment with the Metrobank Group strategy, First Metro is embarking on a transformation initiative that involves the company’s products and services,” said First Metro president Jose Patricio Dumlao.

In line with this transformation initiative, First Metro filed its application for the return of its Quasi Banking License with the Bangko Sentral ng Pilipinas.

First Metro is among the leading investment banks in the country. Despite the pandemic, it remained among the most active in 2020, completing a total of 22 deals, both in the equity and debt capital markets.

More recently, First Metro was one of the joint lead underwriters for the bond issuances of Ayala Land Inc., SM Investments Corporation, Del Monte Philippines Inc., and Aboitiz Equity Ventures. The investment bank was also one of the Joint Issue Managers of the Bureau of the Treasury’s P516.3 billion Retail Treasury Bonds (RTB), the biggest RTB issuance of the national government so far.