List of Savings Banks in the Philippines

Updated February 25, 2018

Here’s an alphabetical list of the 55 savings banks or thrift banks in the Philippines, authorized and supervised by the Bangko Sentral ng Pilipinas, as of February 19, 2018, based on data published on the BSP website.  Included are the locations of their Headquarters.

Savings Bank Location of Headquarters Number of Branches
1 1st Valley Bank, Inc., A Development Bank Cagayan de Oro 48
2 AllBank (A Thrift Bank), Inc. Mandaluyong 10
  formerly Optimum Development Bank, Inc.
3 Bank of Makati, A Savings Bank, Inc. Makati 62
4 Bank One Savings and Trust Corp. Manila 7
5 Bangko Kabayan, Inc. Batangas 24
(A Private Development Bank)
6 Bataan Development Bank Bataan 7
7 BPI Family Savings Bank Makati 173
8 BPI Direct BanKO, Inc., A Savings Bank San Juan City 106
  formerly BPI Globe BanKo, A Savings Bank
9 Business and Consumers Bank Iloilo City 5
(A Development Bank)
10   Card SME Bank, Inc. A Thrift Bank San Pablo City 202
11 Century Savings Bank Corp. Pasig City 8
12 China Bank Savings, Inc. Makati 160
13 City Savings Bank, Inc. Cebu City 106
14 Citystate Savings Bank, Inc. Pasig City 30
15 Cordillera Savings Bank, Inc. Nueva Vizcaya 3
16 Dumaguete City Development Bank, Inc. Dumaguete City 5
17 Enterprise Bank, Inc., A Thrift Bank Surigao del Sur 32
18 Equicom Savings Bank, Inc. Makati 11
19 Farmers Savings and Loan Bank, Inc. Bulacan 8
20 First Consolidated Bank, Inc. Tagbilaran City 129
  A Private Development Bank
21 Hiyas Banking Corp. Bulacan 6
22 HSBC Savings Bank (Phils), Inc. Makati 9
23 Inter-Asia Development Bank Tagaytay City 2
24 Isla Bank, A Thrift Bank, Inc. Makati 3
25 Legazpi Savings Bank, Inc. Legazpi City 14
26 Lemery Savings and Loan Bank, Inc. Batangas 3
27 Life Savings Bank, Inc. Cainta 1
28 Luzon Development Bank Laguna 40
29 Malasiqui Progressive Savings Pangasinan 1
   and Loan Bank, Inc. Pangasinan 1
30 Malayan Bank Savings Makati 21
and Mortgage Bank, Inc. Makati 21
31 Maritime Savings Bank Corp. Cavite 4
32 Maximum Savings Bank, Inc. Oriental Mindoro 4
formerly Microfinance Maximum Savings Bank
33 Merchants Savings and Loan Association, Inc. Davao City 23
34 Metro-Cebu Public Savings Bank Cebu 3
35 Northpoint Development Bank, Inc. Laguna 30
36 Overseas Filipino Bank, Inc. Manila 31
A Savings Bank of Landbank
formerly Philippine Postal Savings Bank, Inc.
37 Pacific Ace Savings Bank Olongapo City 1
38 The Palawan Bank, Inc. Palawan 10
(Palawan Development Bank) Palawan 10
39 Pampanga Development Bank Pampanga 4
40 Penbank, Inc., A Private Development Bank General Santos City 33
  (formerly Peninsula Rural Bank, Inc.)
41 Philippine Business Bank, Inc. Caloocan City 143
A Savings Bank
42 Philippine Resources Savings Banking Corp. Isabela 117
 (PR Savings Bank)
43 Philippine Savings Bank Makati 255
44 Phil Star Development Bank, Inc. Batangas 1
45 PNB Savings Bank, Makati 57
formerly Allied Savings Bank
46 Producers Savings Bank Corp. Pasig City 155
47 Queen City Development Bank, Inc. Iloilo City 16
A Thrift Bank (Queenbank)
48 Quezon Coconut Bank, Inc., A Thrift Bank Lucena City 1
49 RCBC Savings Bank, Inc. Pasig City 157
50 Sterling Bank of Asia, Inc. San Juan City 47
A Savings Bank
51 Sun Savings Bank, Inc. Cebu 5
52 UCPB Savings Bank Makati 62
53 University Savings Bank, Inc. Manila 5
54 Wealth Development Bank Corp. Cebu City 22
55 Yuanta Savings Bank Philippines, Inc. Makati 3

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Why are some thrift banks no longer on the list?

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.

There were:
68 thrift banks as of June 2015
69 thrift banks as of February 2016
63 thrift banks as of June 2016

Updates on Certain Savings 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.

ComSavings Bank is GSIS Family Bank. ComSavings Bank was the previous name of GSIS Family Bank. Its website still uses the name GSIS Family Bank.   
Philippine Resources Savings Banking Corp., based in Cauayan City, Isabela, was formerly a rural bank. It started operating as a savings bank in November 2011, and became the 13th biggest savings bank based on total assets as of March 2012.
Progress Savings and Loan Bank, based in Zambales, was previously Progress Savings and Loan Association
– Quezon Coconut Bank is also called Quezon Coconut Producers Savings and Loan Bank
–  The assets and liabilities of Security Bank Savings Corp.  were absorbed by its parent company, Security Bank Corp. SBSC was allowed to retain its thrift bank license and put it on an inactive status.
     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 in Recent 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.

Related Articles:
Top Savings Banks in the Philippines, Based on ROE Dec 2010
Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks
Banco Filipino Had Been Waving Red Flags
Top 10 Banks in the Philippines based on Assets, Deposits and Capital

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