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BDO maintains dominance in Philippie banking sector
MANILA, Philippines — BDO Unibank Inc. continues to maintain its dominance of the local banking industry in terms of assets, capitalization, deposits and loans.
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed BDO was number one in terms of total assets with P3.48 trillion last year, 7.1 percent higher than the P3.25 trillion recorded in 2020.
BDO was also the largest bank in terms of capital with P423.39 billion, deposits with P2.75 trillion as well as total loans and receivables with P2.38 trillion in 2021.
State-run Land Bank of the Philippines was the second largest lender in terms of assets with P2.58 trillion last year, 9.5 percent higher than the P2.36 trillion booked in 2020.
It ranked fourth in terms of capital with P207.68 billion, second in terms of deposits with P2.27 trillion, and fourth in terms loans with P877.72 billion in 2021.
Metropolitan Bank & Trust Co. (Metrobank) placed third in terms of assets, which went up slightly to P2.18 trillion last year from P2.172 trillion in 2020.
Data from the BSP showed that Metrobank emerged as the second largest bank in terms of capital with P306.81 billion, fourth in terms of deposits with P1.66 trillion, and third in terms of loans with P1.09 trillion.
Bank of the Philippine Islands (BPI) landed in fourth spot in terms of assets with P2.1 trillion, followed by Philippine National Bank with P1.2 trillion.
Completing the Top 10 largest banks in terms of total resources include government-owned Development Bank of the Philippines with P1.16 trillion, China Bank with P1.02 trillion, Rizal Commercial Banking Corp. (RCBC) with P955.03 billion, Union Bank of the Philippines with P725.53 billion, and Security Bank with P700.52 billion.
Despite the challenges brought about by the pandemic, BSP Governor Benjamin Diokno said the country’s banking system remained sound and stable with a more than ample supply of liquidity, strong capitalization, and satisfactory loan and asset quality.
“These were results of good corporate governance and appropriate risk management practices encouraged by sound banking sector regulations and a robust supervisory framework,” Diokno said.
Source: https://www.philstar.com/business/2022/04/11/2173643/bdo-maintains-dominance-philippie-banking-sector