List of Commercial Banks in the Philippines

Updated July 2020

Here’s a List of Commercial Banks in the Philippines, as of July 14, 2020

commercial-banks-philippines

Of the 25 Commercial Banks, 5 are locally-owned and 20 are owned by foreign banks.

Commercial Banks are smaller than Universal Banks in terms of scope of business activities.

Commercial Banks can offer various banking services, but they cannot engage in the activities of investment houses or investment banks such as underwriting of securities.

Universal Banks can offer commercial banking, securities underwriting and other investment banking services.

List of Commercial Banks, Arranged Alphabetically

1
Bangkok Bank Public Co. Ltd.
from Thailand
10th Floor, The Enterprise Center, Tower 2
6766 Ayala Avenue, Makati City
No. of Offices: 1
bangkokbank.com

2
Bank of America, N.A.
from USA
27th Floor, Philamlife Tower
8767 Paseo de Roxas, Makati City 1226
No. of Offices: 1
bankofamerica.com

3
Bank of China Ltd. – Manila Branch
from China
36th Floor, Philamlife Tower
8767 Paseo de Roxas, Makati City
No. of Offices: 1
bocgroup.com.ph4

4
Bank of Commerce
Philippines
San Miguel Properties Centre (SMPC)
No. 7 Saint Francis Street
Mandaluyong City 1550
No. of Offices: 122
bankcom.com.ph

5
BDO Private Bank, Inc.
Philippines
2nd Floor, BDO Equitable Tower
8751 Paseo De Roxas
Makati City
No. of Offices: 6
bdo.com.ph

6
Cathay United Bank Co., Ltd. – Manila Branch
from Taiwan
Unit 1, 15th Floor, Tower 6789
6789 Ayala Avenue, 1226 Makati City
No. of Offices: 1
cathaybk.com.tw

7
Chang Hwa Commercial Bank, Ltd. – Manila Branch
from Taiwan
43rd Floor, Philamlife Tower
8767 Paseo De Roxas 1226 Makati City, Metro Manila
No. of Offices: 1
Phone: +63-2-621-0088

8
CIMB Bank Philippines Inc.
from Malaysia
28th Floor, Ore Central Building
9th Ave Corner 31st Street
Bonifacio Global City, Taguig City
No. of Offices: 1
Phone: 970-0126

9
Citibank, N.A.
from USA
9th Floor, Citibank Tower
8741 Paseo de Roxas St.
Makati City 1226
No. of Offices: 6
citibank.com.ph

10
CTBC Bank (Philippines) Corp.
from Taiwan
16th to 19th Floors, Fort Legend Towers
31st Street cor. 3rd Ave.
Bonifacio Global City, Taguig City
No. of Offices: 24
ctbcbank.com.ph
– formerly Chinatrust (Philippines) Commercial Bank Corp.
– owned by Taiwan-based CTBC Bank

11
First Commercial Bank, Ltd., Manila Branch
from Taiwan
20th Floor, Tower 6789 Ayala Avenue
Makati City 1223
No. of Offices: 1
Email: i76084@firstbank.com.tw
– owned by Taiwan-based First Commercial Branch

12
Hua Nan Commercial Bank, Ltd. – Manila Branch
from Taiwan
Unit 2 and 3, 26th Floor, Tower 6789
6789 Ayala Avenue, 1223 Makati City
No. of Offices: 1
Email: fay.canto@hncb.com

13
Industrial and Commercial Bank of China Ltd. – Manila Branch
from China
24th Floor, The Curve Building,
32nd Street, BGC 1634
Taguig City, Metro Manila
No. of Offices: 1
Phone: (632) 8280-3300
Fax: (632) 8403-2023
yanming.sun@ph.icbc.com.cn
Website: www.icbcmanila.com.cn

14
Industrial Bank of Korea – Manila Branch
from South Korea
8th Floor One World Place, 32nd Street
Bonifacio Global City, Taguig City 1630
No. of Offices: 1
www.ibk.co.kr

15
JP Morgan Chase Bank, N.A.
from USA
31st Floor, Philamlife Tower
8767 Paseo de Roxas, Makati City 1229
No. of Offices: 1
chase.com

16
KEB Hana Bank – Manila Branch
from South Korea
(formerly Korea Exchange Bank)
21st Floor, Zuellig Building
Makati Avenue cor. Paseo de Roxas St
Makati City
No. of Offices: 2
keb.co.kr

17
Maybank Philippines, Inc.
from Malaysia
Maybank Corporate Centre
7th Avenue Corner 28th Street, Bonifacio High Street
Bonifacio Global City, Taguig City 1634
No. of Offices: 56
maybank2u.com

18
Mega International Commercial Bank Co., Ltd.
from Taiwan
3rd Floor, Pacific Star Bldg.
Sen. Gil Puyat Ave., Makati City
No. of Offices: 1

19
MUFG Bank, Ltd.*
(formerly The Bank of Tokyo-Mitsubishi UFJ, Ltd.)
from Japan
15th Floor Makati Sky Plaza Building
6788 Ayala Avenue, Makati City 1226
No. of Offices: 1
Trunkline: 886-7371 local 101; 886-7401
Fax: 886-7389
Website: https://www.mufg.jp/english

20
Philippine Bank of Communications
Philippines
5th Floor, PBCom Tower
6795 Ayala Avenue, Makati City 1200
No. of Offices: 64
pbcom.com.ph

21
Philippine Veterans Bank
Philippines
PVB Bldg. 101 V. A. Rufino cor. Dela Rosa St.
Legaspi Village, Makati City 1229
No. of Offices: 60
veteransbank.com.ph

22
Robinsons Bank Corp.
Philippines
17th Floor, Galleria Corporate Center
EDSA cor. Ortigas Avenue
Quezon City 1110
No. of Offices: 76
robinsonsbank.com.ph

23
Shinhan Bank – Manila Branch
South Korea
21st Floor, Unit 1 and 2
RCBC Savings Bank Corporate Center
25th and 26th Streets, Bonifacio Global City
Taguig City
No. of Offices: 1
shinhan.com

24
Sumitomo Mitsui Banking Corporation – Manila Branch
from Japan
21st Floor, Tower One & Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City
No. of Offices: 1
www.smbc.co.jp

25
United Overseas Bank Limited, Manila Branch
from Singapore
17th Floor, Pacific Star Building
Gil Puyat Avenue corner Makati Avenue
Makati City 1200
No. of Offices: 1
uobgroup.com

 Alphabetical Listing of 25 Commercial Banks, without addresses

1.   Bangkok Bank Public Co. Ltd.
2.   Bank of America, N.A.
3.   Bank of China Limited – Manila Branch
4.   Bank of Commerce
5.   BDO Private Bank, Inc.
6.   Cathay United Bank Co., Ltd. – Manila Branch
7.  Chang Hwa Commercial Bank, Ltd. – Manila Branch
8.   CIMB Bank Philippines Inc.
9.   Citibank, N.A.
10.  CTBC Bank (Philippines) Corp.
11.  First Commercial Bank, Ltd., Manila Branch
12.  Hua Nan Commercial Bank, Ltd. – Manila Branch
13.  Industrial and Commercial Bank of China Ltd. – Manila Branch
14.  Industrial Bank of Korea – Manila Branch
15.  JP Morgan Chase Bank, N.A.
16.  KEB Hana Bank — Manila Branch
17. Maybank Philippines, Inc.
18.  Mega International Commercial Bank Co., Ltd.
19.  MUFG Bank, Ltd.
(formerly The Bank of Tokyo-Mitsubishi UFJ, Ltd.)
20.  Philippine Bank of Communications
21.  Philippine Veterans Bank
22.  Robinsons Bank Corp.
23.  Shinhan Bank – Manila Branch
24.  Sumitomo Mitsui Banking Corp. – Manila Branch
25.  United Overseas Bank Ltd. – Manila Branch

NOTES:

The change of name of The Bank of Tokyo-Mitsubishi UFJ Ltd. – Manila Branch to MUFG Bank Ltd. – Manila Branch, was authorized by the BSP in May 2018.

Of the 20 foreign banks above, 10 were established in the Philippines under Republic Act No. 10641, An Act Allowing the Full Entry of Foreign Banks in the Philippines, Amending RA No. 7721, signed into law by President Benigno S. Aquino III on July 15, 2014.

The 10 foreign banks are the following:

1. Sumitomo Mitsui Banking Corp. (from Japan)
– authorized on July 29, 2015
– started operations on September 1, 2015
– operated a representative office prior to starting a bank

2. Cathay United Bank (from Taiwan)
– authorized on September 24, 2015
– started operations October 2, 2015

3. Shinhan Bank (from South Korea)
– authorized on September 24, 2015
– started on October 19, 2015

4. Industrial Bank of Korea
– Authorized on October 20, 2015
– Started on November 6, 2015

5. United Overseas Bank (UOB)** (from Singapore)
– Authorized on December 23, 2015
– Started on January 4, 2016

6. First Commercial Bank (from Taiwan)
– Authorized on December 12, 2016
– Started on December 16, 2016

7. Hua Nan Commercial Bank (from Taiwan)
– Authorized on May 25, 2017
– Started on August 4, 2017

8. Chang Hwa Commercial Bank, Ltd. – Manila Branch
– Authorized on June 13, 2018
– Started July 9, 2018

9. CIMB Bank Philippines ***(from Malaysia)
– Authorized on October 25, 2018
– Started on December 3, 2018

10. Industrial and Commercial Bank of China Ltd. (from China)
– Authorized on November 7, 2018
– Started operations on February 14, 2019

**Parang matagal na ang United Overseas Bank dito
Yes.
UOB first operated as a commercial bank in the Philippines in November 1999, after acquiring 60% of Westmont Bank. It acquired the remaining 40% in July 2002, then became a thrift bank in July 2006 after selling its 66 branches to BDO. It ceased operations as a thrift bank after converting into a non-bank called UOBP Collections Inc. in January 2016.
It applied for a new commercial banking license under RA

***CIMB Bank Philippines Inc. started operating as a fully digital bank on January 19, 2019. It launched its mobile banking app OCTO. It was given authorization to operate as a commercial bank in the Philippines by the BSP in November 2017. CIMB Bank Philippines is a branch of CIMB Bank Berhad (CIMB Bank), a subsidiary of Malaysian conglomerate CIMB Group (CIMB).

Foreign Banks Authorized to Operate as Commercial Banks in 2015, 2016, 2017 and 2018 under RA 10641, signed in July 2014, often called the Bank Liberalization Program. They’re branches of Foreign Banks.

2015
1. Sumitomo Mitsui Banking Corporation – Manila Branch
— branch of Sumitomo Mitsui Banking Corp. (Japan)

2. Cathay United Bank Co., Ltd. – Manila Branch
— branch of Cathay United Co., Ltd. (Taiwan)

3. Shinhan Bank – Manila Branch
— branch of Shinhan Bank Co. Ltd. (South Korea)
4. Industrial Bank of Korea – Manila Branch
— branch of Industrial Bank of Korea (South Korea)

5. United Overseas Bank Ltd. – Manila Branch
— branch of United Overseas Bank Ltd. (Singapore)

2016
1. First Commercial Bank, Ltd., – Manila Branch
This bank was established as a branch by First Commercial Bank (FCB), a Taiwan-based bank. Its commercial banking license was issued by the BSP on December 12, 2016.

2017
1. Hua Nan Commercial Bank, Ltd. – Manila Branch
The commercial banking license of Hua Nan Commercial Bank, Ltd. – Manila Branch, a branch of Taiwan-based bank Hua Nan Commercial Bank Ltd., was issued on 25 May 2017. Operations started on August 4, 2017.

2018
1. Chang Hwa Commercial Bank, Ltd. – Manila Branch
– Authorized on June 13, 2018
– Started July 9, 2018

2. CIMB Bank Philippines (from Malaysia)
– Authorized on October 25, 2018
– Started on December 3, 2018

3. Industrial and Commercial Bank of China Ltd. (from China)
– Authorized on November 7, 2018
– Started operations on February 14, 2019

List of Universal Banks in the Philippines 
List of Savings Banks in the Philippines  or Thrift Banks
TOP Banks in the Philippines

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