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BDO pads dominance, assets hit P2.32 T in H1

MANILA, Philippines — BDO Unibank Inc. maintained its dominance in the banking industry in terms of total assets, capital, deposits, and loans in the first half of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The country’s largest bank owned by retail and banking magnate Henry Sy topped the list in terms of total assets with P2.32 trillion in end-June this year followed by Metropolitan Bank & Trust Co. of taipan George Ty with P1.62 trillion.

Government-run Land Bank of the Philippines climbed to third with P1.48 trillion dislodging Ayala-led Bank of the Philippine Islands (BPI) with P1.43 trillion followed by Security Bank Corp. with P774.39 billion, and Philippine National Bank of airline and tobacco magnate Lucio Tan with P773.64 billion.

Completing the top 10 list in terms of assets were Sy-led China Banking Corp. with P572.34 billion, state-owned Development Bank of the Philippines with P533.37 billion, Aboitiz-led Union Bank of the Philippines with P486.94 billion, and Rizal Commercial Banking Corp. founded by the late tycoon Alfonso Yuchengco with P427.45 billion.

In terms of capital, BDO dominated the industry with P288.5 billion followed by Metrobank with P194.92 billion, BPI with P169.33 billion, PNB with P104.37 billion, and Security Bank with P99.57 billion.

Landbank ranked sixth with P97.36 billion followed by China Bank with P74.14 billion, UnionBank with P64.2 billion, RCBC with P63.35 billion, and DBP with P45.03 billion.

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BDO also topped the list in terms of deposits with P1.9 trillion as well as in terms of loans with a portfolio of P1.57 trillion as of end-June this year.

Assets of Philippine banks booked a double-digit growth of 13.3 percent to P14.57 trillion in the first half of the year from P12.86 trillion in the same period last year as profits inched up 3.9 percent to P82.33 billion from P79.19 billion.

BSP Governor Nestor Espenilla Jr. said the country’s banking industry is ready to support the financing needs of continuously growing economy.

“Our banking sector is fundamentally sound. The reforms put in place by the BSP, along with banks’ commitment to manage operational risks have resulted in significant improvements in the quality of bank assets and loan portfolios as well as strong capitalization. Also, I am pleased to note that as banks fund the domestic economy, they remain prudent in their lending activities,” he said.

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