Top Thrift Banks in the Philippines

Here are the TOP THRIFT BANKS in the Philippines, based on Total Assets as of DECEMBER 2018.

Here’s a ranking of thrift banks or savings banks in the Philippines based on total assets as of December 2018:

 

RANK BANK ASSETS
DEC BILLION       
2018 PESOS
 1 BPI Family 271.518
 2 PSBank 236.775
 3 RCBC Savings 139.918
 4 China Bank Savings  96.766
 5 Philippine Business Bank  94.617
 6 PNB Savings  61.823
 7 Sterling Bank  41.389
 8 Bank of Makati  34.248
 9 UCPB Savings  18.529
10 First Consolidated  18.388
11 Producers Savings Bank  18.387
12 BPI Direct Banko  15.603
13 HSBC Savings  13.567
14 PR Savings*  10.158
15 Wealth Development Bank  10.086
16 1st Valley Bank   9.018
17 Malayan Bank Savings   8.689
18 Equicom Savings   8.474
19 CARD SME Bank   6.743
20 Luzon Development Bank   5.446
21 Citystate Savings   3.837
22 AllBank   3.253
23 Bangko Kabayan   3.104
24 Penbank   2.719
25 Yuanta Savings Bank   2.689
26 Enterprise Bank   2.296
27 Legazpi Savings Bank   2.260
28 Queen City Development Bank   2.257
29 Merchants Savings   1.567
30 Bank One Savings   1.559
31 Sun Savings Bank   1.550
32 Century Savings   1.466
33 Isla Bank   1.441
34 Hiyas Banking   1.429
35 Dumaguete City Development   1.391
36 University Savings Bank   1.026
MILLION PESOS       
37 Farmers Savings and Loan Bank 823.32
38 Northpoint Development Bank 694.71
39 Pampanga Development Bank 523.11
40 Metro Cebu Public Savings Bank 514.50
41 Cordillera Savings Bank 434.65
42 Bataan Development Bank 433.63
43 Pacific Ace Savings Bank 394.40
44 Business and Consumers Bank 343.59
45 Inter-Asia Development Bank 343.26
46 Life Savings Bank 289.43
47 Lemery Savings and Loan Bank 236.71
48 Phil Star Development Bank 159.69
49 Maritime Savings Bank 150.72
50 Quezon Coconut Bank   92.00

Notes:
There are 53 thrift banks as of April 1, 2019, based on published BSP data.

The 4 banks below are not on the list above. I’m assuming they were delayed in submitting their financial reports. I could be wrong though.

1.  City Savings Bank was the 7th biggest thrift bank based on assets (75.445 billion pesos) as of September 2018.
* City Savings Bank has acquired Philippine Resources Savings Banking Corp. (PR Savings Bank). Effective date of merger was February 28, 2019. Circular Letter No. CL – 2019 – 023.

2.  The Palawan Bank (Palawan Development Bank)
3.  Maximum Savings Bank (MaxBank) issued a statement on its website that it’s owned by Hong Kong and Philippine investors and that the rumor it’s being acquired by another foreign company is incorrect.
It launched its MAXBANK BGC branch located at W Global Center, 9th Avenue, Bonifacio Global City on March 15, 2019.

4. Overseas Filipino Bank

All 4 banks are on BSP’s list of PhilPaSS Participants, as of 31 March 2019.

 

Thrift Bank News 2018:

AllBank has acquired Rural Bank of Plaridel. Effective date of merger was December 28, 2018. Circular Letter No. CL – 2019 – 013.

Notes on Three Banks (June 2016):
. Planters Development Bank was acquired by China Bank in January 2014 and was merged into its thrift subsidiary China Bank Savings.
Planters was No. 6 in total assets as of June 2015. China Bank’s acquisition of Planters Development Bank started in 2013 and merger was completed in 2016.
. ComSavings Bank, also named GSIS Family Bank A Thrift Bank, was closed down by the BSP on May 13, 2016
ComSavings Bank was No. 30 in total assets as of June 2015, with total assets of 1.56 billion pesos.
. United Overseas Bank was converted into a commercial bank, operating as Manila branch of Singapore-based United Overseas Bank Ltd. It applied for a branch license in 2014 and started operating as United Overseas Bank Ltd. Manila Branch (UOBL Manila Branch) on January 4, 2016.
United Overseas Bank was No. 26 in total assets as of June 2015, with total assets of 2.14 billion pesos.

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