Lucio Tan’s Philippine National Bank has matched the dividend yield of the Ty family’s Metrobank. Its protection against bad loans remains another matter. For income-hunting investors, the contest between two of the Philippines’ oldest banking fortunes has acquired a pleasing symmetry. Philippine National Bank (PNB), controlled by Lucio Tan’s LT Group, and Metropolitan Bank & Trust Company (Metrobank or MBT), the flagship bank associated with the Ty family, now offer virtually identical dividend yields. At the share prices recently displayed—₱58.45 for PNB and ₱66.40 for Metrobank—each yields about 7.53% . The equality is mathematically tidy. PNB has announced a dividend of ₱4.40 per share for 2026: two regular payments of ₱1.65 each and a special dividend of ₱1.10. Metrobank has declared a dividend of ₱5.00 per share, consisting of ₱3.00 in regular dividends and ₱2.00 in a special payout. Divide each distribution by its respective share price, and the result is almost indist...