There are now two trillionaire Philippine banks -- BDO and Metrobank.
BDO first surpassed the one-trillion-peso-asset mark in June 2011 -- more than 2 years before Metrobank did in September 2013.
PNB got into the Top 5 list in the first quarter of 2013 after completing its merger with sister company Allied Bank in February 2013.
TOP 17 Banks -- with Over One Hundred Billion in Total Assets
|MAR 2014||BILLION PESOS||DEC 2013|
|No. 18 to No. 34|
|22||BANK of TOKYO||58.301||24|
|25||JP MORGAN CHASE||52.521||26|
|31||BANK OF AMERICA||19.751||31|
|34||BANK OF CHINA||10.668||34|
|No. 35 to No. 36|
1. Of the Top 17 banks, 3 banks changed places -- Nos. 8, 9 and 10; the 14 others retained their rankings.
2. BDO's total assets decreased from 1,629.853 to 1,601.922 billion but it retained its No. 1 ranking in total assets.
3. RCBC fell from No. 8 to No. 10, with assets falling from 366.452 to 354.779 billion.
4. Metrobank first surpassed the one-trillion-asset mark in the 3rd quarter last year (July to September 2013).
5. CTBC Bank (Philippines) Corp. has been the new name of Chinatrust (Philippines) Commercial Bank Corporation since November 2013. Its parent holding company, CTBC Financial Holding Co., Ltd. (formerly Chinatrust Financial Holding Co. Ltd.) is the most awarded bank in Taiwan and one of the 200 biggest banks in the world based on capital.
6. PNB was No. 6 based on total assets in the 2nd, 3rd and 4th quarters of 2012.
After acquiring Allied Bank in February 2013, it moved up to No. 5
7. Allied Savings Bank, the thrift subsidiary of Allied Bank, is now the thrift subsidiary of PNB.
8. Bank of Tokyo moved up from No. 24 to No. 22.
9. The upgrade of Asia United Bank Corp. from a commercial bank to a universal bank was approved by the BSP on February 28, 2013 and was announced by the BSP on January 3, 2014.