Metrobank-Globalbank Merger
Merger of Metrobank & Globalbank
Table of Contents
History of Global Business Bank.............................................................................................................. 2 History of Metropolitan Bank & Trust Corp............................................................................................. 3 History at the time of the Merger.............................................................................................................. 4 Reasons for Merger ................................................................................................................................... 6 Financial Statements before the Acquisition .......................................................................................... 7 Board of Directors .................................................................................................................................... 22 Approval by BSP ...................................................................................................................................... 25 Ranking Before & After the Acquisition ................................................................................................. 26 Current Status of the Surviving Bank .................................................................................................... 27 Major Financial Highlights: ...................................................................................................................... 28
1
History of Global Business Bank
Globalbank, formely Philbank, traces its roots in Tanauan, Batangas where in 1935 a group of public school teachers formed a mutual savings and loan association to fight usury and promote the concept of savings. Soon after the creation of the Central Bank, the association was converted into a commercial bank, the first ever to be established outside Manila. In view of its fast growing clientele, the bank transferred its office to
Table of Contents
History of Global Business Bank.............................................................................................................. 2 History of Metropolitan Bank & Trust Corp............................................................................................. 3 History at the time of the Merger.............................................................................................................. 4 Reasons for Merger ................................................................................................................................... 6 Financial Statements before the Acquisition .......................................................................................... 7 Board of Directors .................................................................................................................................... 22 Approval by BSP ...................................................................................................................................... 25 Ranking Before & After the Acquisition ................................................................................................. 26 Current Status of the Surviving Bank .................................................................................................... 27 Major Financial Highlights: ...................................................................................................................... 28
1
History of Global Business Bank
Globalbank, formely Philbank, traces its roots in Tanauan, Batangas where in 1935 a group of public school teachers formed a mutual savings and loan association to fight usury and promote the concept of savings. Soon after the creation of the Central Bank, the association was converted into a commercial bank, the first ever to be established outside Manila. In view of its fast growing clientele, the bank transferred its office to