Maybank Philippines Inc (MPI) is a full service commercial bank offering a wide array of retail and institutional products and services. It has 55 branches nationwide, with 28 in Metro Manila and 27 more in the key cities of Luzon, Visayas and Mindanao. We recently moved our Head Office to the Bonifacio Global City (BGC) in Taguig in a bid to strengthen our corporate brand and enhance our value. BGC is the Philippines' newest premier business and residential district.
We opened two new branches in 2012, one in Tarlac and the other in BGC, which now serves as our Main Office Branch.
We introduced Maybank Visa and Master Card credit cards in the Philippines in October, and we cooperated with Maybank ATR Kim Eng to tap into opportunities in the areas of deposits, cash management services (CMS), loans, investment banking and asset management.
Our Fixed Income capabilities won recognition in 2012. Asiamoney ranked us as No. 2 in Overall Best Interest Rates. In sub-categories, we were No. 1 in Best Interest Rates, Products and Sales, and No. 3 in Best Interest Rates Research.
The Philippines GDP growth forecast is 5.5% in 2013, slightly lower than the 6.3% achieved in 2012. Credit growth is likely to reach 11% to 13%, moderating slightly from the robust 14% figure recorded the year before. This is the result of the banks' efforts to prepare for higher capital requirements and to manage exposure to the real estate sector in response to revised regulations.