Here are the top savings banks in the Philippines, based on total assets as of December 2018:
|4||China Bank Savings||96.766|
|5||Philippine Business Bank||94.617|
|8||Bank of Makati||34.248|
|11||Producers Savings Bank||18.387|
|12||BPI Direct Banko||15.603|
|15||Wealth Development Bank||10.086|
|16||1st Valley Bank||9.018|
|17||Malayan Bank Savings||8.689|
|19||CARD SME Bank||6.743|
|20||Luzon Development Bank||5.446|
|25||Yuanta Savings Bank||2.689|
|27||Legazpi Savings Bank||2.260|
|28||Queen City Development Bank||2.257|
|30||Bank One Savings||1.559|
|31||Sun Savings Bank||1.550|
|35||Dumaguete City Development||1.391|
|36||University Savings Bank||1.026|
|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|
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.
Top savings banks in the Philippines, based on assets as of December 2018