Palace: Metrobank founder Ty a ‘visionary’ with a lasting legacy

Metrobank founder George Ty was a "visionary and pillar of the Philippine economy" who left a lasting legacy to a grateful nation, the Palace said Monday.

Ty, who died on November 23 at the age of 86, "indeed exemplified the outstanding Filipino," presidential spokesperson Salvador Panelo said in a statement.

"Mr. Ty was quoted saying that he 'shared the dream of a better bank' but he would always be remembered for sharing a better society for Filipinos at a time when corporate social responsibility was yet to become the standard norm for companies," Panelo also said.

Ty established Metrobank in 1962 and grew the bank to expand its reach internationally.

He ventured beyond banking and transformed Metrobank into a conglomerate with successful joint ventures like Toyota Motor Philippines Corporation, AXA Insurance, and Orix Metro Leasing.

The Metrobank Group counts as its members 18 domestic subsidiaries, partners and affiliates in various industries and 32 foreign branches, subsidiaries and representative offices.

Ty became de facto chairman emeritus in 2008, with his sons Arthur and Alfred taking over the reins in his stead. — BM, GMA News