7.04.2011

Top Savings Banks in the Philippines, Based on Assets Dec 2010

By Nora
Here are the top savings banks in the Philippines, based on Total Assets as of December 2010.

We did the ranking of thrift banks, based on the banks' balance sheets as of December 2010, published by the Bangko Sentral ng Pilipinas.

Rank  Savings Bank Assets in Billion Pesos
1. BPI Family Savings Bank138.696
2. Philippine Savings Bank (PSBank)103.419
3. RCBC Savings Bank57.816
4. Planters Development Bank50.755
5. HSBC Savings Bank (Phils)25.390
6. Sterling Bank of Asia23.675
7. Philippine Business Bank22.153
8. Robinsons Savings Bank21.854
9. The Real Bank11.881
10. City Savings Bank8.994
11. First Consolidated Bank7.322
12. Citibank Savings7.003
13. LBC Development Bank6.391  *****
14. UCPB Savings Bank6.168
15. Malayan Bank Savings & Mortgage Bank  5.968
16. BPI Direct Savings Bank5.889
17. Producers Savings Bank5.788
18. Premiere Development Bank5.455
19. Philippine Postal Savings Bank5.317
20. China Savings Bank5.103
21. Equicom Savings Bank3.998
22. GSIS Family Bank3.575
23. Allied Savings Bank3.488
24. Luzon Development Bank2.485
25. Citystate Savings Bank2.475
26. United Overseas Bank Phils2.439
27. Wealth Bank A Development Bank2.060
28. Legaspi Savings Bank1.912
29. BDO Elite Savings Bank1.474
30. Queen City Development Bank1.439
31. World Partners Bank1.334
32. Tong Yang Savings Bank1.246
33. Hiyas Savings and Loan Bank1.238
34. Optimum Development Bank1.157
35. BPI Globe Banko Savings Bank1.132
36. Bank One Savings1.121
37. Dumaguete City Development Bank1.079
38. Isla Bank1.062
39. Century Savings Bank1.061


***** LBC Development Bank was closed by the Bangko Sentral ng Pilipinas and put under Philippine Deposit Insurance Corp. receivership on September 9, 2011.

Note: The balance sheet forms of the following banks on the Bangko Sentral ng Pilipinas website ARE NOT filled out.

1. Asiatrust Development Bank
The net earnings of Asiatrust Bank dropped to 22.5 million pesos in 2009 from 125.3 million pesos in 2008, due partly to a 20-percent drop in loans.
It was reported in 2010 that BDO was interested in investing in Asiatrust, but a recent BDO disclosure said that there are no ongoing talks and that BDO was still awaiting regulatory guidelines concerning investing in Asiatrust.

2. Express Savings Bank 
This bank is involved in a 2010 complaint filed against Local Water Utilities Administration (LWUA) Chairman Prospero Pichay. The bank was already financially troubled, incurring millions in losses from 2005 to 2009, but LWUA still invested a total of 780 million pesos in the bank in 2008 and in 2009.
Note: July 7, 2011 --  Express Savings Bank was closed by the BSP due to its financial problems and placed under PDIC receivership. As of March 2011, it has total deposit liabilities of more than 608 million pesos owed to 2,673 accounts. More than half of accountholders have deposit balances of 10,000 pesos or lower.

3. Silangan Savings & Loan Association Inc.

Related Articles:
List of the 73 Savings Banks in the Philippines
List of Banks in the Philippines
Top 20 Banks in the Philippines Based on Assets Dec 2010

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