June 09, 2020
First Metro Investment Corporation, the investment banking arm of the Metrobank Group, received the Best Investment Bank in the Philippines award from FinanceAsia, a Hong Kong-based financial publishing firm. In 2019, First Metro received the same award from Asiamoney, another Hong Kong-based international publication.
First Metro president Jose Patricio Dumlao said, “The honor we received from FinanceAsia speaks of First Metro’s in-depth understanding of the Philippine capital markets and remarkable ability to provide sound market guidance and innovative financial solutions to its clients particularly in a volatile and uncertain market environment. Despite a difficult market condition, First Metro managed to pull off a number of landmark deals during the awards covered period.”
In its announcement of award winners, FinanceAsia said, “The competition is always fierce, but this year it also took place against an unprecedented global backdrop thanks to COVID-19. What stood out was the banks' resilience and their ability to adapt to fast-changing conditions, not least in enabling most of their employees to successfully work from home.”
During the awards covered period, First Metro accomplished 11 bond market transactions, two initial public offerings, and two M&A deals. Among the notable deals are the maiden bond offerings of ORIX METRO Leasing and Finance Corporation and Asia United Bank Corporation, the Premyo Bonds of the Bureau of the Treasury, the IPOs of Axelum Resources Corp. and Fruitas Holdings, Inc., and the asset-for-share swap between GT Capital Holdings, Inc. and Property Company of Friends.
“This award only inspires us to continue to work harder and deliver best in class investment banking services, help our clients seek opportunities and pursue their growth aspirations even through this challenging business climate”, Mr. Dumlao added.
First Metro’s wholly owned subsidiary, First Metro Securities Brokerage Corporation was also awarded the Best Broker.
FinanceAsia’s Country Awards annually recognizes financial institutions for their excellence in banking, investment banking, brokerage, and private banking in 20 territories, including the Philippines, Singapore, Taiwan, Thailand, Malaysia, Hong Kong, South Korea, China, and Indonesia..