BDO, Metrobank, BPI dominate industry in Q1

MANILA, Philippines - Family-owned BDO Unibank Inc., Metropolitan Bank & Trust Co. and Bank of the Philippine Islands continued to dominate the banking industry in terms of assets, capital, deposits and loans in the first quarter of the year.

Data from the Bangko Sentral ng Pilipinas (BSP) showed BDO of retail and banking magnate Henry Sy led the list in terms of total assets with P2.26 trillion in end-March this year followed by Metrobank of taipan George Ty with P1.59 trillion, and Ayala-led BPI with P1.45 trillion.

Government-run Land Bank of the Philippines with P1.37 trillion placed fourth followed by Philippine National Bank of airline and tobacco magnate Lucio Tan with P740.42 billion, Security Banking Corp. with P729.17 billion, Sy-led China Banking Corp. with P539.27 billion, Development Bank of the Philippines with P512.66 billion, Aboitiz-owned Union Bank of the Philippines with P449.29 billion and Rizal Commercial Banking Corp. of the late tycoon Alfonso Yuchengco with P425.29 billion.

In terms of capital, BDO dominated the industry with P281.63 billion followed by Metrobank with P189.84 billion, BPI with P167.1 billion, PNB with P102.46 billion and Security Bank with P98.49 billion.

BDO also topped the list in terms of deposits with P1.85 trillion followed by Metrobank’s P1.24 trillion, Landbank’s P1.22 trillion, BPI’s P1.18 trillion and PNB’s P559.96 billion.

The Sy-owned bank also dominated the list in terms of total loans and receivables with P1.49 trillion followed by Metrobank with P916.12 billion, BPI with P810.93 billion, Landbank with P529.16 billion and PNB with P372.39 billion.

BSP Governor Nestor Espenilla Jr. said the country’s banking industry remained a source of strength that helped the Philippines ride out the turbulent waters of US Federal Reserve rate hikes, the decision of United Kingdom to leave Europe or Brexit, and lingering global market uncertainties.

“The banking system likewise continues to be a source of strength and is well-positioned to further support the growing needs of the domestic economy. Key performance indicators showed stronger balance sheets of banks with steady growths in assets, loans, deposits and capital,” he said.

The BSP and major shareholders pursued reforms that have helped improve the ability of banks to absorb shocks and contain imbalances.

“We have strengthened governance and risk management standards as benchmarks for good banking. We have adopted global reforms and standards and made sure these are in tune with our own domestic needs and requirements,” Espenilla said.