3/18/2018

3 Thrift Banks are in TOP 20 Banks List

Three thrift banks are among the Top 20 banks in the Philippines, based on assets as of September 2017. Each of the three has more assets than several commercial/universal banks.

BPI Family is No. 14, with total assets of more than 265 billion.
PSBank is No. 15, with total assets of more than 221 billion.
RCBC Savings Bank is No. 20 with total assets of more than 110 billion.

Of the TOP 50 banks, 14 are thrift banks. Here are the 14:

14  BPI FAMILY  265.012
15 PSBANK  221.291
20 RCBC SAVINGS    110.291
24 CHINA BANK SAVINGS    87.605
25 PHILIPPINE BUSINESS    80.380
27 CITY SAVINGS    71.701
34 PNB SAVINGS   46.973
37 STERLING BANK   36.266
38 BANK OF MAKATI   29.312
44 UCPB SAVINGS   18.185
45FIRST CONSOLIDATED     16.155
46 HSBC SAVINGS    16.020
47 BPI DIRECT BANKO    14.995
50 PRODUCERS SAVINGS    13.382


Of these 14 top thrift banks, 9 are subsidiaries of commercial/universal banks:
BPI Family -- subsidiary of the Bank of the Philippine Islands
PSBank -- Metrobank
RCBC Savings Bank -- RCBC
China Bank Savings -- China Bank
City Savings -- Union Bank
PNB Savings -- PNB
UCPB Savings -- UCPB
HSBC Savings -- HSBC
BPI Direct Banko -- Bank of the Philippine Islands

One observation: BPI Family is the only one among the above top thrift banks that does not have its own website. Perhaps because BPI Family's operations are so intertwined with its parent, Bank of the Philippine Islands (BPI), that BPI Family does not need a separate website. Clients of BPI and BPI Family can use any of BPI and BPI Family's ATMs and cash deposit machines without any interbank fees and use the same BPI Express online banking system.

Here's a complete list of the top thrift banks in the Philippines, based on assets

Are there how many thrift banks in the Philippines?

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