BDO maintains status as largest Philippine bank

Assets top P2 T as of end-June

MANILA, Philippines - Listed 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 P2.04 trillion in end June this year followed by Metropolitan Bank & Trust Co. of taipan George Ty with P1.42 trillion.

Ayala-led Bank of the Philippine Islands (BPI) climbed to third with P1.295 trillion, dislodging government-run Land Bank of the Philippines with P1.287 trillion, followed by Philippine National Bank of airline and tobacco magnate Lucio Tan with P678.74 billion, Security Bank with P613.76 billion, and the Development Bank of the Philippines with P489.18 billion.

Completing the top 10 list in terms of total assets are Sy-led China Banking Corp. with P480.28 billion, Rizal Commercial Banking Corp. of tycoon Alfonso Yuchengco with P412.54 billion, and Aboitiz-owned Union Bank of the Philippines with P372.84 billion.

In terms of capital, BDO dominated the industry with P210.55 billion followed by Metrobank with P189.6 billion, BPI with P155.42 billion, and PNB with P101.99 billion.

Security Bank improved to fifth with P93.93 billion after it received P37 billion from The Bank of Tokyo Mitsubishi UFJ Ltd (BTMU) for a 20-percent stake.

Landbank ranked sixth with P89.51 billion followed by RCBC with P59.84 billion, China Bank with P56.76 billion, UnionBank with P56.58 billion, and DBP with P45.42 billion.

BDO also topped the list in terms of deposits with P1.71 trillion followed by Landbank’s P1.13 trillion, Metrobank’s P1.1 trillion, BPI’s P1.07 trillion, and PNB’s P512.74 billion.

The Sy-owned bank also dominated the list in terms of total loans and receivables with P1.35 trillion followed by Metrobank with P744.1 billion, BPI with P719.14 billion, Landbank with P479.61 billion, and PNB with P360.47 billion.

The total resources of big banks or universal and commercial banks increased by 12 percent to P11.57 trillion from P10.33 trillion while that of mid-sized banks or thrift banks grew 10.5 percent to P1.06 trillion from P964.7 billion.

The continued rise in resources including deposits, profits, and retained earnings indicate that banks have the ability to service funding needs of corporate and household clients.

At the same time, this shows banks have enough to act as a buffer against any external shocks.