Metrobank reported a 13.7-percent growth in its consumer lending portfolio in the first half of the year. It expects to continue this growth trajectory into the second half of 2024, given the expected further lowering of interest rates.
Shifting borrower profiles
Interestingly, Peaches Cuenco, head of Metrobank’s consumer lending group, noted a shift in borrower profiles, with a noticeable increase in younger and single applicants applying for both auto and home loans.
Cuenco emphasized the bank's focus on helping clients reach key life milestones, such as purchasing a car or building a home.
"We expect more bookings toward the end of the year, and our Happy Holideals loan promo is designed to offer clients competitive rates and savings," she said during the promo's launch at One Ayala, Makati.
The Happy Holideals promo, running from Aug. 1 to Oct. 31, 2024, offers waived fees and low-interest rates, with added perks such as a pre-qualification for the Metrobank Toyota Mastercard, providing further rebates and rewards for cardholders.
Financial awareness
By eliminating fees such as Chattel Mortgage Registration and Documentary Stamp Tax, Metrobank aims to make car and home ownership more affordable during the holiday season.
Additionally, Metrobank encourages financial awareness through its G.I.F.T. initiative—Get ahead, Invest wisely, Follow a budget, and Take advantage of savings opportunities. This aims to empower clients to make sound financial decisions before the holiday season rush.
Metrobank chief marketing officer Digs Dimagiba emphasized the importance of being financially aware and educated early on, so Filipinos can better budget their money. He is encouraging people to start a new tradition of planning before the holiday rush.
Metrobank's early holiday offers form part of its broader strategy to expand its consumer base while catering to the evolving needs of Filipinos.
