What are the top banks in the Philippines?
Ano ang mga pinakamalaking bangko sa Pilipinas?
Combined assets of Philippine banks rose 8.6 percent year-on-year to PhP6.628 trillion as of June 2010. Including the assets of non-bank financial institutions, the total resources of the Philippine financial system amounted to PhP8.169 trillion.
Banks accounted for over 80 percent of the total assets of the financial system. As of June 2010, there were 773 banks with 7,912 other offices and branches. These include 19 universal banks with 4,044 branches; 19 commercial banks with 514 branches; 74 thrift and savings banks with 1,255 branches; 620 rural banks with 2,099 branches; and 41 cooperative banks with 116 branches.
Universal and commercial banks represented 71.7 percent of the total resources of the financial system. As of June, these large banks saw their combined assets rise to PhP5.89 trillion, up by 9.4 percent from PhP5.38 trillion a year ago.
Banco de Oro Unibank Inc. is the country's largest domestic bank with total assets of PhP846 billion. It is followed by Metropolitan Bank & Trust Co. with PhP655.7 billion; Bank of the Philippine Islands with PhP636.6 billion; Land Bank of the Philippines with PhP529.6 billion; and Philippine National Bank with PhP294.2 billion.
Occupying the list of sixth to 10th largest domestic banks are Development Bank of the Philippines with PhP283.4 billion in resources; Rizal Commercial Banking Corp. with PhP241.7 billion; Union Bank of the Philippines with PhP237 billion; China Banking Corp. with PhP231.9 billion; and United Coconut Planters Bank with PhP164.6 billion.
Meanwhile, the five largest foreign banks with operations in the Philippines as of June were Citibank N.A. with PhP201.3 billion in total resources; Hong Kong & Shanghai Banking Corp with PhP118.2 billion; Standard Chartered Bank with PhP51.7 billion; The Bank of Tokyo-Mitsubishi UFJ Ltd. with PhP35.5 billion; and ANZ Banking Group. Ltd. with PhP34.5 billion.
Other large international banks in the Philippines were Mizuho Corporate Bank Ltd. with PhP32.7 billion; Deutsche Bank AG with PhP32.6 billion; JP Morgan Chase Bank National Association with PhP30.4 billion; Maybank Philippines Inc. with PhP27.4 billion; Chinatrust Philippines with PhP25 billion; ING Bank with PhP24.7 billion; and Bank of America NA with PhP12 billion.
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