List of Universal and Commercial Banks in the Philippines (with total assets as of 2022)

This is your comprehensive guide about banks and banking in the Philippines.

The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.

As of 17 October 2017, there were 36 universal and commercial banks, 57 savings banks, 492 rural banks, 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) under the General Banking Act of 2000.

On top of regular banking services offered by universal, commercial, thrift and rural banks, there are savings and loan associations which are mainly based in communities and among retirees in the armed forces and the police organization and other employees of the government of the Philippines.

Prominent among these small savings services is the Armed Forces and Police Savings and Loan Association, Inc. (AFPSLAI), which is exclusive to active servicemen and retirees of the armed forces in the Philippines.

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UNIVERSAL BANKS

Universal banks are financial service conglomerates that combine investment banking, commercial banking, development banking, and insurance to encompass a wider variety of services. They are also authorized to engage in other functions such as merchant banking, mutual funds, factoring, housing finance, and practically all types of functions typical in the banking business.

According to Bangko Sentral, there are 21 universal banks with active operations in the Philippines as of March 2018. These banks are the following:

Land Bank of the Philippines
Australia and New Zealand Banking Group Limited
Deutsche Bank AG
ING Bank N.V.
Mitzuho Bank, Ltd. – Manila Branch
Standard Chartered Bank
The Hongkong & Shanghai Banking Corporation
Asia United Bank Corporation
Rizal Commercial Banking Corporation
Security Bank Corporation
Union Bank of the Philippines
Al-Amanah Islamic Investment Bank of the Philippines
Development Bank of the Philippines
Bank of the Philippine Islands
BDO Unibank, Inc.
United Coconut Planters Bank
China Banking Corporation
East West Banking Corporation
Metropolitan Bank and Trust Company
Philippine National Bank
Philippine Trust Company

COMMERCIAL BANKS

Commercial banks are privately-owned institutions that accept deposits and lend money to projects to earn interest. They also offer personal, business, and mortgage loans, checking account services, and basic financial products like savings accounts and certificate of deposit to individuals and businesses. They are primarily owned by shareholders and are profit-based.

As of March 2018, 22 commercial banks are in operation in the Philippines and they are listed below:

Bank of Commerce
BDO Private Bank, Inc.
Philippine Bank of Communications
Philippine Veterans Bank
Robinsons Bank Corporation
CTBC Bank (Philippines) Corporation
Maybank Philippines, Incorporated
Bangkok Bank Public Co. Ltd.
Bank of America, N.A.
Bank of China Limited – Manila Branch
Citibank, N.A.
JP Morgan Chase Bank, N.A.
KEB Hana Bank – Manila Branch
Mega International Commercial Bank Co., Ltd.
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
First Commercial Bank, Ltd., – Manila Branch
Cathay United Bank Co., Ltd., – Manila Branch
Shinhan Bank – Manila Branch
Sumitomo Mitsui Banking Corporation – Manila Branch
Industrial Bank of Korea – Manila Branch
United Overseas Bank Ltd., – Manila Branch
Hua Nan Commercial Bank, Ltd., – Manila Branch

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List of Universal and Commercial Banks in the Philippines

Alphabetically arranged:

Al-Amanah Islamic Investment Bank of the Philippines*
Asia United Bank Corporation (AUB)
Australia and New Zealand Banking Group (ANZ)
BDO Unibank, Inc. (BDO; largest bank in the Philippines in terms of assets; 243rd largest bank globally)
BDO Private Bank (a subsidiary of BDO Unibank, Inc.)
Bank of America, N.A.
Bank of China - Manila Branch
Bank of Commerce (a subsidiary of San Miguel Corporation)
Bank of the Philippine Islands (BPI; oldest bank in Southeast Asia)
Bangkok Bank Co. Ltd.
Cathay United Bank Co. Ltd. - Manila Branch
Chang Hwa Commercial Bank LTD - Manila Branch
China Banking Corporation (Chinabank)
Chinatrust Philippines Commercial Bank Corporation (Chinatrust)
CIMB Bank Philippines Inc.
Citibank Philippines
Development Bank of the Philippines (DBP, secondary government bank)*
Deutsche Bank
East West Banking Corporation (EastWest Bank)
First Commercial Bank Manila
Hua Nan Commercial Bank Ltd. Manila
Industrial Bank of Korea Manila Branch
ING Group N.V.
JPMorgan Chase & Co. (JPMorgan Chase)
KEB Hana Bank - Manila Branch
Land Bank of the Philippines (Landbank; LBP, main government bank)*
Maybank Philippines, Inc.
Mega International Commercial Bank Co. LTD
Metropolitan Bank and Trust Company (Metrobank)
Mizuho Bank, Ltd. Manila Branch
MUFG Bank, Ltd.
Philippine Bank of Communications (PBCom)
Philippine National Bank (PNB)
Philippine Trust Company (Philtrust Bank)
Philippine Veterans Bank (Veterans Bank; PVB)
Rizal Commercial Banking Corporation (RCBC)
Robinsons Bank Corporation (RBank)
Security Bank Corporation (Security Bank)
Shinhan Bank - Manila Branch
Standard Chartered Bank Philippines
Sumitomo Mitsui Banking Corporation Manila Branch
The Hongkong and Shanghai Banking Corporation Limited
Tonik (bank)
Union Bank of the Philippines, Inc. (Unionbank)
United Overseas Bank Limited Manila Branch

The forty-five banks listed above are those with the biggest assets in the Philippine banking industry, listed at the BSP website as of June 2022. The largest of these is BDO Unibank and the smallest is Al-Amanah Islamic Bank.

Universal and Commercial Bank Group ranked according to assets (in million of peso as of 30 June 2022):

BDO UNIBANK INC - ₱3,661,570.82
LAND BANK OF THE PHILIPPINES - ₱2,803,643.64
BANK OF THE PHIL ISLANDS - ₱2,451,097.81
METROPOLITAN BANK & TCO - ₱2,353,735.12
PHIL NATIONAL BANK - ₱1,192,661.70
CHINA BANKING CORP - ₱1,124,083.69
RIZAL COMM'L BANKING CORP - ₱1,030,330.93
DEVELOPMENT BANK OF THE PHIL - ₱971,347.99
SECURITY BANK CORP - ₱796,777.07
UNION BANK OF THE PHILS - ₱769,157.72
EAST WEST BANKING CORP - ₱393,649.43
CITIBANK, N.A. - ₱380,823.02
ASIA UNITED BANK CORPORATION - ₱316,238.04
HONGKONG & SHANGHAI BANKING CORP - ₱208,354.74
BANK OF COMMERCE - ₱207,568.83
ROBINSONS BANK CORPORATION - ₱172,356.27
PHIL TRUST COMPANY - ₱170,109.26
PHIL BANK OF COMMUNICATIONS - ₱118,498.27
STANDARD CHARTERED BANK - ₱99,915.14
MAYBANK PHILIPPINES INCORPORATED - ₱91,672.44
MUFG BANK, LTD. - ₱88,610.89
MIZUHO BANK LTD - MANILA BRANCH - ₱83,328.02
CTBC BANK (PHILIPPINES) CORP - ₱65,391.51
PHILIPPINE VETERANS BANK - ₱60,067.52
BANK OF CHINA (HONGKONG) LIMITED-MANILA BRANCH - ₱59,627.63
JP MORGAN CHASE BANK NATIONAL ASSN. - ₱58,944.11
DEUTSCHE BANK AG - ₱53,222.69
BDO PRIVATE BANK, INC. - ₱45,374.58
SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH - ₱40,064.47
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ₱33,065.20
ING BANK N.V. - ₱30,028.53
BANK OF AMERICA N.A. - ₱27,448.92
CIMB BANK PHILIPPINES INC - ₱24,369.26
KEB HANA BANK - MANILA BRANCH - ₱20,151.98
MEGA INT'L COMM'L BANK CO LTD - ₱13,669.25
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED - MANILA BRA - ₱11,810.63
BANGKOK BANK PUBLIC CO LTD - ₱10,691.24
SHINHAN BANK - MANILA BRANCH - ₱9,133.45
INDUSTRIAL BANK OF KOREA MANILA BRANCH - ₱8,952.31
HUA NAN COMMERCIAL BANK LTD MANILA BRANCH - ₱7,226.97
CATHAY UNITED BANK CO LTD - MANILA BRANCH - ₱6,280.55
CHANG HWA COMMERCIAL BANK LTD - MANILA BRANCH - ₱5,707.52
UNITED OVERSEAS BANK LIMITED MANILA BRANCH - ₱4,677.33
FIRST COMMERCIAL BANK LTD MANILA BRANCH - ₱3,681.10
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS - ₱728.69

See other list of banks in the Philippines:

Acknowledgement: This article is sponsored by Usapang Hanapbuhay.

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