Updated September 19, 2021
Here’s an alphabetical list of savings banks in the Philippines
authorized and supervised by the Bangko Sentral ng Pilipinas, as of September 2021, based on data published on the BSP website. Included are the locations of their Headquarters.
As of September 2021, there are 47 thrift banks or savings bank in all.
|Savings Bank||Location of Headquarters||Number of Branches|
|1||1st Valley Bank, Inc., A Development Bank||Cagayan de Oro||81|
|2||AllBank (A Thrift Bank), Inc.||Wack Wack, Mandaluyong City||17|
|3||Bangko Kabayan, Inc.||Batangas||24|
|4||Bank of Makati, A Savings Bank, Inc.||Makati City||102|
|5||Bank One Savings and Trust Corp.||Manila||7|
|6||Bataan Development Bank||Bataan||7|
|7||BPI Direct BanKO, Inc., A Savings Bank||San Juan City||308|
|8||BPI Family Savings Bank||Makati City||178|
|9||Card SME Bank, Inc. A Thrift Bank||San Pablo City||343|
|10||Century Savings Bank Corp.||Pasig City||8|
|11||China Bank Savings, Inc.||Makati City||163|
|12||City Savings Bank, Inc.||Cebu City||232|
|13||Citystate Savings Bank, Inc.||Pasig City||30|
|14||Cordillera Savings Bank, Inc.||Nueva Vizcaya||3|
|15||Dumaguete City Development Bank, Inc.||Dumaguete City||5|
|16||Equicom Savings Bank, Inc.||Makati City||11|
|17||Farmers Savings and Loan Bank, Inc.||Bocaue, Bulacan||8|
|18||First Consolidated Bank, Inc.||Tagbilaran City||134|
|19||Hiyas Banking Corp.||Sta. Maria, Bulacan||6|
|20||HSBC Savings Bank (Phils), Inc.||Alabang, Muntinlupa City||10|
|21||Isla Bank, A Thrift Bank, Inc.||Makati City||3|
|22||Legazpi Savings Bank, Inc.||Legazpi City||27|
|23||Lemery Savings and Loan Bank, Inc.||Lemery, Batangas||3|
|24||Life Savings Bank, Inc.||Cainta, Rizal||1|
|25||LOLC Bank Phils.||Tagaytay City||11|
|26||Luzon Development Bank||Calamba City, Laguna||39|
|27||Makiling Development Bank||Calamba City, Laguna||4|
|28||Malayan Savings Bank||Makati City||21|
|29||Metro-Cebu Public Savings Bank||Cebu City||3|
|30||Northpoint Development Bank, Inc.||San Pedro City, Laguna||31|
|31||Overseas Filipino Bank, Inc.||Liwasang Bonifacio, Manila||1|
|32||Pacific Ace Savings Bank||Subic Bay FZ, Olongapo City||1|
|33||Pampanga Development Bank||San Fernando City, Pampanga||4|
|34||Penbank, Inc., A Private Development Bank||General Santos City, South Cotabato||33|
|35||Phil Star Development Bank, Inc.||Batangas City||1|
|36||Philippine Business Bank, Inc.||Grace Park, Caloocan City||164|
|37||Philippine Savings Bank||Paseo de Roxas, Makati City||250|
|38||Producers Savings Bank Corp.||Ortigas Center, Pasig City||269|
|39||Queen City Development Bank (Queenbank)||Iloilo City||17|
|40||Quezon Coconut Bank, Inc., A Thrift Bank||Lucena City, Quezon||1|
|41||Rizal Microbank||Davao City||23|
|42||Sterling Bank of Asia||Greenhills, San Juan City||47|
|43||Sun Savings Bank||Cebu City||7|
|44||UCPB Savings Bank||Makati Ave, Makati||64|
|45||University Savings Bank||Biñan, Laguna||5|
|46||Wealth Development Bank Corp.||Cebu City||26|
|47||Yuanta Savings Bank Philippines, Inc.||Salcedo Village, Makati City||2|
What Happened to Thrift Banks No Longer in Bank Lists?
Thrift Bank Mergers, Name Changes and Bank Closures
PNB Savings Bank was acquired by its parent company, PNB, after the BSP approved the merger in August 2020. Merger proceedings started in September 2018.
RCBC Savings Bank was consolidated into its parent company, RCBC, in July 2019.
Palawan Bank was closed down by the BSP in May 2019.
PR Savings Bank was acquired by City Savings Bank, the thrift bank unit of Union Bank, in March 2019.
Merchants Savings and Loan Association, Inc. was acquired by RCBC in 2008 and then was merged with Pres. Jose P. Laurel Rural Bank (acquired by RCBC in 2009) to form Rizal MicroBank A Thrift Bank of RCBC in 2010.
Malasiqui Progressive Savings (Pangasinan) was closed down on August 16, 2018.
Maximum Savings Bank (MaxBank) was closed down by the BSP in November 2019.
Business and Consumers Bank (A Development Bank) was acquired, along with First Midland Rural Bank, Inc., by First Imperial Business Bank, Inc. (A Rural Bank) (formerly RBG Imperial Bank, Inc. (A Rural Bank). Merger was completed in June 2019.
Maritime Savings Bank became a rural bank called Maritime Bank Corp. (A Rural Bank) in September 2018.
Philippine Postal Savings Bank, Inc. was formally renamed Overseas Filipino Bank, A Savings Bank of Landbank on January 18, 2018, a few months after the Philippine Postal Corp., owner of Postbank, and the Bureau of Treasury, were ordered by President Duterte, through Executive Order No. 44., issued in September 2017, to transfer all their shares to Landbank at zero value. The chairperson of Landbank will serve as head of the 9-member board of directors of OFBank.
World Partners Bank was closed down by the BSP on August 11, 2017.
Dungganon Bank converted into a microfinance-oriented rural bank in October 2016.
BPI Direct Savings Bank merged with BPI Globe BanKO on December 29, 2016. BPI Direct, the surviving corporation, changed its name to BPI Direct BanKO Inc., A Savings Bank.
mBank Philippines voluntarily surrendered its banking license to the BSP, which approved the surrender on July 14, 2016.
TongYang Savings Bank was renamed Yuanta Savings Bank Philippines after it was acquired by Taiwanese bank Yuanta Commercial Bank Co. Ltd., in July 2015.
Tower Development Bank merged with Producers Savings Bank Corp. (PROSB), Rural Bank of San Fabian (Pangasinan) and Rural Bank of Tayabas, with Producers Savings as the surviving entity. Producers started operating as a merged thrift bank on November 23, 2016.
Sampaguita Savings Bank was closed down by the BSP on October 13, 2016.
Village Bank converted into a rural bank on 19 July 2017. It started operating as a rural bank on November 2, 2017.
AllBank (A Thrift Bank), Inc. is the new name of Optimum Development Bank, Inc. Name change was approved by the BSP on July 7, 2017.
Progress Savings and Loan Bank surrendered its banking license to the BSP, which approved the cancellation on March 3, 2016.
The banking license of Bataan Savings and Loan Bank was deemed revoked after all its assets and liabilities were acquired by Philippine Business Bank on October 16, 2017.
Opportunity Kauswagan Bank, Inc. (A Microfinance Thrift Bank) converted into a rural bank on August 30, 2016. The bank started to operate as a rural bank on October 17, 2016.
68 thrift banks as of June 2015
69 thrift banks as of February 2016
63 thrift banks as of June 2016
54 thrift banks as of February 2019
47 thrift banks as of December 2019
47 thrift banks as of September 2021
Updates on Certain Thrift Banks :
– BDO Elite Savings Bank surrendered its banking and trust licenses to the BSP and got approval on 20 August 2015. It was consolidated into BDO Capital and Investment Corp. in July 2016.
– BDO Savings Bank, formerly Citibank Savings, was consolidated into BDO Capital and Investment Corp., together with BDO Elite Savings Bank, in July 2016.
– United Overseas Bank started operating as a commercial bank and as a bank branch of Singapore-based bank United Overseas Bank Ltd.
– Tong Yang Savings Bank was acquired in July 2015 by Taiwanese bank Yuanta Commercial Bank Co. Ltd., the fifth foreign bank allowed to operate in the country, under the new bank liberalization law. Tong Yang was previously Orion Savings Bank.
Tongyang was acquired from Yuanta Securities Korea Co., Ltd., a subsidiary of Yuanta Securities whose parent company is Taiwan-based Yuanta Financial Holdings.
– PNB Savings Bank is now the name of Allied Savings Bank. Allied was renamed after PNB merged with its subsidiary Allied Bank Corp.
– Robinsons Savings Bank Corporation became a commercial bank called Robinsons Bank Corp. in February 2010, following its purchase of the Royal Bank of Scotland NV’s shares in the Royal Bank of Scotland (Philippines) Inc.
– Liberty Savings Bank, located in Bulacan, which was previously 47th in assets as of December 2011, changed to a rural bank named Liberty Bank, A Rural Bank in April 2012.
– Premiere Development Bank, 19th in assets as of March 2012, was acquired by Security Bank and renamed Security Bank Savings. The acquisition was announced online in June 2011.
Security Bank Savings was formerly Premiere Development Bank, a subsidiary of Security Bank.
– Penbank, A Private Development Bank, was formerly Peninsula Rural Bank, Inc.
– Phil Star Development Bank was formerly Pride Star Development Bank. Name change approved by the BSP on February 26, 2014
– Citibank Savings was acquired by BDO and renamed Banco de Oro Savings Bank.
– Producers Savings Bank Corp. acquired Iloilo City Development Bank on October 31, 2013. Producers Savings started operating as merged bank on November 12, 2013.
– The Real Bank, A Thrift Bank surrendered its banking license in August 2014 after its assets and liabilities were acquired by BDO Unibank.
Savings Banks that Closed Down in Past Years:
- Sampaguita Savings Bank, Inc. was closed down by the BSP on October 13, 2016.
- GSIS Family Bank or ComSavings Bank was closed down by the BSP on May 13, 2016
- Progress Savings and Loan Bank Inc. voluntarily surrendered its banking license in March 2016.
- Silangan Savings and Loan Bank, based in Silang, Cavite, was closed down by the BSP on January 9, 2014.
- LBC Development Bank, based in Makati City, was closed in September 2011. It had 19 branches.
- Express Savings Bank, based in Cabuyao, Laguna, was closed in July 2011. It had 3 branches in Laguna.
- Bank of Calape Savings and Mortgage Bank, based in Calape, Bohol, was closed in July 2011. It had one branch.
- Banco Filipino Savings Bank finally shut down on March 15, 2011. It was closed over the period from 1985 to 1992. It had 62 branches, 32 in Metro Manila and 30 in the provinces.
- Penafrancia Savings and Loan Association, based in Camarines Sur, was closed in July 2010. It had one branch in Cavite.