Top Thrift Banks in the Philippines

The top thrift banks in the Philippines as of December 2019 are BPI Family Savings Bank and Philippine Savings Bank (PSBank). RCBC Savings Bank, which was the 3rd biggest in the past years, was merged into its parent bank, RCBC in July 2019.

Now, 3rd and 4th are Philippine Business Bank and China Bank’s subsidiary China Bank Savings.

top thrift banks in the Philippines

Here are the top Philippine thrift banks, based on total assets as of December 2019:

RANK BANK ASSETS
DEC   BILLION       
2019   PESOS
 
 1 BPI Family 284.213
 2 PSBank 224.108
 3 Philippine Business Bank  113.978
 4 China Bank Savings  102.836
 5 City Savings*  76.795
 6 PNB Savings  59.871
 7 Sterling Bank  43.984
 8 Bank of Makati  40.158
 9 Producers Savings Bank  25.452
10 UCPB Savings  20.977
11 First Consolidated  19.283
12 BPI Direct Banko  17.834
13 Wealth Development   14.534
14 HSBC Savings  13.885
15 Malayan Bank Savings   10.627
16 Equicom Savings   9.270
17 1st Valley Bank   9.208
18 CARD SME Bank   7.873
19 Luzon Development Bank*   6.090
20 AllBank   5.724
21 Overseas Filipino Bank*   5.369
22 Citystate Savings   4.139
23 Yuanta Savings Bank   3.964
24 Bangko Kabayan   3.247
25 Legazpi Savings Bank   2.722
26 Penbank   2.719
27 Queen City Development Bank   2.377
28 Enterprise Bank   2.254
29 Sun Savings Bank*   2.082
30 Rizal Micro Bank*   1.818
31 Bank One Savings   1.591
32 Dumaguete City Development   1.489
33 Hiyas Banking   1.441
34 Century Savings   1.428
35 Isla Bank   1.389
36 Makiling Development Bank*   1.093
37 University Savings Bank   1.013
 
    MILLION PESOS       
 
38 Northpoint Development Bank 833.16
39 Farmers Savings and Loan Bank 788.10
40 Inter-Asia Development Bank* 616.49
41 Pampanga Development Bank 590.18
42 Pacific Ace Savings Bank 487.66
43 Bataan Development Bank 466.26
44 Cordillera Savings Bank 448.94
45 Life Savings Bank 313.62
46 Lemery Savings and Loan Bank 234.54
47 Phil Star Development Bank 233.91
48 Maritime Savings Bank 158.19
49 Quezon Coconut Bank   89.11

Notes on Changes from previous ranking (see September 2018 ranking below):

RCBC Savings was merged into its parent, RCBC, in July 2019.

City Savings Bank, the Cebu-based thrift subsidiary of Union Bank of the Philippines, completed its acquisition of Philippine Resources Savings Bank Corp. (PR Savings Bank), based in Isabela, in March 2019. The share purchase agreement with ROPALI Group of Cos. was signed on December 29, 2017.

*The change of name of Merchants Savings and Loan Association, Inc. to Rizal Microbank, Inc. – A Thrift Bank of RCBC was authorized by the BSP on March 7, 2O19.

*Mount Makiling Rural Bank, Inc. has been authorized by the BSP to upgrade from a rural bank into a thrift (development) bank under the corporate name Makiling Development Bank Corp. (MDBC) in September 2019. MDBC will start as a thrift bank on September 20, 2019.

Sun Savings Bank increased its assets from 1.404 billion in Sep 2018 to 2.082 billion in Dec 2019, rising in ranking from No. 35 to No. 29. It now has 6   branches in Cebu, with the newest branch in Cebu Business Park. Its head office is in Cebu City.

Inter-Asia Development Bank‘s assets rose by a huge amount of 278 million from 338.49 in Sep 2018 to 616.49 in Dec 2019, and rose in ranking from No. 46 to No. 40.

Why kaya? Nag-invest pala sa Inter-Asia ang Sri Lankan bank, The LOLC Holdings PLC (LOLC), the largest  non-banking financial conglomerate in Sri Lanka in September 2019.  Inter-Asia is a thrift subsidiary of Tao Group of Companies, a diversified conglomerate founded by Julio D. Sy Jr., a native of Dumaguete City, Negros Oriental.

Metro Cebu Public Savings Bank (480.3 million, No. 41 in Sep 2018 ranking, why not in Dec 2019 ranking?)

Business and Consumers Bank (338.67 million, No. 45 in Sep 2018 ranking, why not in Dec 2019 ranking?)

Luzon Development Bank  (No. 19 as of Dec 2019, but why not in Sep 2018 ranking below?)

Overseas Filipino Bank (OFBank) decreased in assets from 9.675 billion in Sep 2018 to 5.369 billion in Dec 2019. Bakit kaya? Nasaan yong 4.306 billion?

Doon sa General Information Sheet submitted to the SEC on October 22, 2019, nakasulat na ang Total Assets ng OFBank based on latest audited financial statements is 9,017,235,136.00.

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SEPTEMBER 2018

Here are the top thrift banks in the Philippines, based on total assets as of September 2018:

RANK BANK ASSETS
SEP   BILLION       
2018   PESOS
 
 1 BPI Family 266.356
 2 PSBank 229.041
 3 RCBC Savings  122.647
 4 Philippine Business Bank  95.947
 5 China Bank Savings  92.957
 6 City Savings  75.445
 7 PNB Savings  59.362
 8 Sterling Bank  40.361
 9 Bank of Makati  34.218
10 UCPB Savings  18.408
11 First Consolidated  18.199
12 Producers Savings Bank  17.170
13 BPI Direct Banko  15.251
14 HSBC Savings  13.993
15 PR Savings  11.771
16 Overseas Filipino Bank   9.675
17 Wealth Development   9.442
18 1st Valley Bank   8.761
19 Malayan Bank Savings   8.513
20 Equicom Savings   8.421
21 CARD SME Bank   5.995
22 Citystate Savings   3.930
23 Bangko Kabayan   2.974
24 Penbank   2.733
25 AllBank   2.710
26 Yuanta Savings Bank   2.695
27 Enterprise Bank   2.369
28 Queen City Development Bank   2.257
29 Legazpi Savings Bank   2.231
30 Bank One Savings   1.576
31 Century Savings   1.509
32 Merchants Savings   1.482
33 Hiyas Banking   1.426
34 Isla Bank   1.411
35 Sun Savings Bank 1.404
36 Dumaguete City Development   1.281
37 University Savings Bank 1.013
 
    MILLION PESOS       
 
38 Northpoint Development Bank 665.66
39 Farmers Savings and Loan Bank 664.70
40 Pampanga Development Bank 497.74
41 Metro Cebu Public Savings Bank 480.30
42 Bataan Development Bank 438.37
43 Pacific Ace Savings Bank 425.99
44 Cordillera Savings Bank 421.79
45 Business and Consumers Bank 338.67
46 Inter-Asia Development Bank 338.49
47 Life Savings Bank 278.08
48 Lemery Savings and Loan Bank 242.47
49 Phil Star Development Bank 160.70
50 Maritime Savings Bank 153.91
51 Quezon Coconut Bank 94.76
Here’s a List of Savings Banks in the Philippines, arranged alphabetically, including the locations of their head offices.

Rankings of Smaller Savings Banks in the Philippines

top thrift banks in the Philippines

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