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Ty Family-Led Metrobank Group Pledges P200 Million for COVID-19 Crisis Response

Funds will go to support initiatives in the fight against the coronavirus.
IMAGE gtcapital.com.ph
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Big businesses have stepped up in recent days with pledges to support not only their employees and stakeholders, but health, police and military personnel, and medical insitutions in the frontlines of the fight against the COVID-19 threat. These include generous initiatives from San Miguel’s Ramon Ang, the Ayala family, the Gokongweis, Manny Pangilinan and his Metro Pacific Investment Corp. and Andrew Tan-led Alliance Global Inc.

The latest family to announce support for the COVID-19 crisis response is the Tys of GT Capital Holdings Inc. and Metrobank. The conglomerate now led by brothers Arthur and Alfred Ty (after the passing of their father George Ty last year) pledged a P200 million fund that it says will go towards initiatives that directly support the fight against the virus.

Managed by the foundations of both GT Capital and Metrobank, the fund will support efforts to produce test kits developed by the University of the Philippines National Institutes of Health (UP-NIH) and the purchase of personal protective equipment (PPE) for frontline health workers.

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In addition, both Metrobank and GT Capital say they are instituting measures to “manage the disruption and provide meaningful assistance to customers, employees, and partners who most need help in these difficult times.”

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The group said it will continuously monitor the evolving situation and will implement further measures as needed.

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About The Author
Paul John Caña
Associate Editor, Esquire Philippines
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