Metrobank, founded by the late taipan taipan George SK Ty, spent P14.8 billion to buy out the 40 percent stake of its joint venture partner, ANZ Funds Pty. Ltd. (ANZ), in MCC.

Metrobank consummated the purchase of ANZ’s remaining 20 percent share in MCC for P7.4 billion. The local bank earlier agreed to buy out the 40-percent stake held by ANZ for P14.8 billion.

We expect to leverage on better operational efficiencies as we eventually make MCC a wholly-owned subsidiary of Metrobank,” Dee added. Metrobank’s joint venture with ANZ was formed in 2003.

The Metrobank-ANZ joint venture was formed in 2003, with a 60-40 equity structure in favor of the George Ty-led bank. Citing data from the Credit Card Association of the Philippines (CCAP), Metrobank ...

MCC became a wholly owned subsidiary of Metrobank in September 2018 after it bought the 40% stake of ANZ Funds Pty. Ltd. (ANZ) in the credit card company. Metrobank conducted a stock right offer in ...

MCC will license PRIME 4, the latest version of the payment processing platform, to manage its multi-payment card issuing and merchant acquiring together with online authorization and switching on ...

MELBOURNE, Australia--Australia & New Zealand Banking Group Ltd. has agreed to sell its stake in Philippines-based credit-card provider Metrobank Card Corp. to venture partner Metropolitan Bank ...

Stockholders of Ty-led Metropolitan Bank & Trust Co. (Metrobank) have approved the plan to absorb the bank’s wholly owned credit card unit to increase profitability and improve capital efficiency.

MCC is a strategic joint venture between Metrobank and Australia New Zealand Bank and is one of the largest issuers and acquirers in the Philippines' market.