^

Business

Ayala Corp secures $200 million loan from Metrobank

Brix Lelis - The Philippine Star
Ayala Corp secures $200 million loan from Metrobank
The country’s oldest conglomerate said it recently signed a senior long-term loan facility with Metrobank to fund its investments in emerging portfolios such as technology and payments, health, logistics and mobility.
Philstar.com / Irish Lising

MANILA, Philippines — Ayala Corp. has secured a $200-million credit facility from Ty-led Metropolitan Bank & Trust Co. (Metrobank) to support its expansion plans.

The country’s oldest conglomerate said it recently signed a senior long-term loan facility with Metrobank to fund its investments in emerging portfolios such as technology and payments, health, logistics and mobility.

“This loan agreement with Metrobank will support our efforts to sharpen our portfolio and allocate capital to clear business winners,” Ayala CFO Albert de Larrazabal said.

Metrobank has been a trusted partner of the Ayala Group for over three decades, providing credit facilities to bankroll the conglomerate’s real estate developments, renewable energy projects and data centers.

Mary Mylene Caparas, institutional banking sector head at Metrobank, said the two companies share mutual commitments to “enabling individuals and businesses in the country.”

This deal, Caparas added, is a testament to Metrobank’s support for the Ayala Group’s growth aspirations of building businesses and “bringing innovations that contribute to the Philippines’ social and economic development goals.”

In the first half, the Ayala Group saw its core net income climb by 18 percent to P24.3 billion on the back of double-digit contributions from key businesses.

The robust growth was attributed to the stronger financial results from Bank of the Philippine Islands, Ayala Land Inc., Globe Telecom and ACEN Corp.

Metrobank, meanwhile, posted a record income of P23.6 billion in the first six months, up by 12.9 percent from last year’s P20.9 billion.

The country’s second-largest private lender by assets banked its growth on asset expansion, stable margins, prudent cost management and healthy asset quality.

vuukle comment

METROBANK

Philstar
x
  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with