October 10, 2024 | 12:00am
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.
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