Metrobank stock draws interest in potential CIMB Philippines deal

Metrobank is among the local banks considering a bid for CIMB Group's business in the Philippines, according to The Edge Malaysia. The report, published on October 27 and updated on November 3, cited Bloomberg and people familiar with the private process. Binding offers are expected before month-end, while the parties have given no assurance that a transaction will be completed.

Potential Philippine expansion

CIMB is working with a financial adviser on the possible divestment of its Philippine business. The unit could be valued at up to 200 million US dollars, according to people cited in the report. Other parties are also considering the assets, and Metrobank did not comment on the process.

The potential transaction would give Metrobank an opportunity to expand its Philippine banking franchise, but the outcome depends on the bidding process and any subsequent regulatory and commercial approvals. Investors should therefore treat the development as strategic deal interest rather than a completed acquisition.

Metrobank's business and peers

Metrobank is a Philippine financial conglomerate serving institutional and consumer banking customers. Its activities also include investment banking, leasing and financing, and bancassurance, supported by a broad domestic branch and ATM network and international offices. The bank competes with Philippine rival BPI and CIMB in the local banking market, while Metrobank describes itself as the country's second-largest lender by assets.

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