BDO Unibank Inc. (PSE: BDO) ranked number one among the Philippine banks according to the latest report of Bangko Sentral ng Pilipinas (BSP).
BDO is a full service bank and a member of SM Group owned by Henry Sy. The largest bank has reported a P2.09 trillion in total assets as of September 2016. On the other hand, Metrobank and Trust Company (PSE: MBT) became the second largest bank with its P 1.39 trillion worth of total assets. Metrobank is headed by George Ty.
Land Bank of the Philippines (LBP) landed in third place with its total assets of P1.33 trillion. LBP is the largest government-owned bank and one of the biggest government-owned and controlled corporations (GOCCs) in the Philippines.
Meanwhile, Bank of the Philippine Islands (PSE: BPI) positioned in fourth place with P1.31 total assets. BPI is the oldest bank in the Philippines still in operation and is led by Jaime Augusto Zobel de Ayala II. Security Bank Corp. (PSE: SECB) with its total assets of P6.80 billion ranked in fifth place. Security bank is chaired by Rafael Simpao Jr. and was the first Filipino Filipino-controlled bank of the post-World War II period.
The other banks included in the top ten banks as to total assets are Philippine National Bank (PNB), P677.73 billion; Development Bank of the Philippines (DBP), P492.45 billion; China Banking Corp. (PSE: CHIB), P488.01 billion; Rizal Commercial Banking Corp.(PSE: RCB), P415.03 billion and Union Bank of the Philippines (PSE: UPB), P410.56 billion.
Here are the other banks included in BSP's top 30 list as to total assets:
- Citibank National Assn. (Citibank): P286.11 billion
- United Coconut Planters Bank (UCPB): P283.83 billion
- East West Banking Corp. (PSE: EW): P257.87 billion
- Hongkong & Shanghai Banking Corp (HSBC): P178.44billion
- Asia United Bank Corp. (AUB): P154.98 billion
- Phil Trust Company (Phil Trust): 152.84 billion
- Bank of Commerce (BoC): P113.56 billion
- Maybank Philippines Inc. (MPI): P95.63 billion
- Philippine Bank of Communications (PSE: PBC): P82.14 billion
- Mizuho Bank Ltd. - Manila Branch ( NYSE: MFG): P67.81 billion
- The Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU): P67.79billion
- Robinsons Bank Corp.: P66.58 billion
- BDO Private Bank, Inc.: P53.56 billion
- Standard Chartered Bank (LSE: STAN): P52.24 billion
- Philippine Veterans Bank (PVB): P51.70 billion
- Deutsche Bank AG (NYSE: DB): P50.80 billion
- JP Morgan Chase Bank National Assn.(JP Morgan): P46.79 billion
- ANZ Banking Group Ltd. (ANZ): P34.53 billion
- CTBC Bank (Philippines) Corp.: P32.93 billion
- ING Bank N.V. (NYSE: ING): P25.15 billion
What do you think of BDO as the number one bank in terms of assets in the Philippines? Let us know in the comments section below.