Conglomerate-owned banks continue to dominate in Philippines

MANILA, Philippines — Philippine conglomerates SM Investments, GT Capital Holdings and Ayala Corp. continue to dominate the local banking industry in terms of assets and deposits.

BDO Unibank Inc., owned by the family of the late retail and banking magnate Henry Sy, dominated the industry as its assets near P3 trillion in end-June.

Data from the Bangko Sentral ng Pilipinas (BSP) showed BDO topped the list in terms of assets with P2.94 trillion as of end-June this year, followed by Metropolitan Bank & Trust Co. of the late taipan George SK Ty with P1.94 trillion and Ayala-led Bank of the Philippine Islands (BPI) with P1.86 trillion.

State-run Land Bank of the Philippines ranked fourth with P1.81 trillion, Philippine National Bank of airline and tobacco magnate Lucio Tan with P1.01 trillion, another Sy-led bank, China Banking Corp., with P812.84 billion, Security Bank with P776.55 billion, state-owned Development Bank of the Philippines with P667.58 billion, Aboitiz-owned Union Bank of the Philippines with P634.16 billion and Yuchengco-led Rizal Commercial Banking Corp. with P546.63 billion.

In terms of capital, BDO also dominated the industry with P349.3 billion, followed by Metrobank with P296.35 billion, BPI with P257.67 billion, Landbank with P141.86 billion and PNB with P126.02 billion.

BDO also led the list in terms of deposits with P2.35 trillion, followed by Landbank’s P1.58 trillion, BPI’s P1.43 trillion, Metrobank’s P1.41 trillion and PNB’s P723.48 billion.

The Sy-owned bank also dominated the list in terms of total loans and receivables with P2.05 trillion, followed by BPI with P1.13 trillion, Metrobank with P1.12 trillion, Landbank with P837.85 billion, and PNB with P551.3 billion.

On the other hand, BPI Family Savings Bank emerged as the biggest thrift bank in terms of assets with P270.01 billion, followed by Metrobank’s Philippine Savings Bank with P230.43 billion, RCBC Savings Bank with P138.18 billion, Philippine Business Bank with P100.75 billion, China Bank Savings with P97.98 billion, City Savings Bank with P76.35 billion, and PNB Savings Bank with P61.57 billion.

In the rural and cooperative bank category, East West Rural Bank grabbed the top spot in terms of assets with P28.38 billion followed by BDO’s One Network Bank with P28.31 billion, Card Bank Inc. with P16.38 billion, Guagua Rural Bank with P5.54 billion and Card MRI Rizal Bank with P4.14 billion.