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Sep 5, 2018 @ 9:59

Metrobank completes buyout of cards unit from ANZ


It’s all theirs once again.

The Metropolitan Bank & Trust Company (Metrobank) announced that it has acquired the last remaining share of its subsidiary Metrobank Card from its former foreign partner.

In a disclosure, the bank owned by the bilyonaryo George SK Ty said it has acquired the last 20 percent stake in the unit from global bank ANZ, one year after they announced the plan.

“The final transaction brings Metrobank’s ownership in MCC to 100% and likewise completes the full handover from ANZ as Metrobank assumes 100% responsibility over MCC operations,” the bank said.

It came with a price tag of P7.4 billion.

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