notes: MBT/METROPOLITAN BANK & TRUST COMPANY

COL FINANCIAL DAILY NOTES (20 JUL 2018)

Maintain BUY. We currently have a BUY rating on MBT with an FV estimate of Php103/sh based on 1.50X 2018E P/BV. We continue to like Metrobank as it is expected to be one of the major beneficiaries of the growing demand for loans given its size, and highly liquid and healthy balance sheet.