BDO still PH’s biggest bank
Henry Sy’s BDO Unibank Inc. remained the country’s largest bank in terms of assets by the end of September last year, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.
As of Sept. 30, 2016, BDO had P2.09 trillion in assets, up from P2.04 trillion at end-June.
Staying in second place, George Ty-led Metropolitan Bank and Trust Co.’s end-September assets were worth P1.39 trillion, although down from P1.42 trillion a quarter ago.
State-run Land Bank of the Philippines, with P1.34 trillion in assets as of September, rose to third from fourth position in June, during which assets stood at P1.29 trillion.
Ayala-led Bank of the Philippine Islands, meanwhile, slid one notch from a quarter ago even as end-September assets inched up to P1.31 trillion from almost P1.3 trillion.
Security Bank Corp. also moved up to be fifth biggest bank in terms of assets as of September with P680.7 billion, up from P613.7 billion in the previous quarter.
Philippine National Bank went down to sixth, switching end-June positions with Security Bank. The Lucio Tan-led lender’s assets stood at P677.7 billion, lower than the preceding quarter’s P678.7 billion.
State-run Development Bank of the Philippines remained at seventh place, with P492.5-billion worth of assets.
Among universal and commercial banks, China Banking Corp. had the eighth largest total assets at the end of the first three quarters with over P488 billion; Yuchengco-led Rizal Commercial Banking Corp. was ninth with more than P415 billion; and Union Bank of the Philippines at 10th with P410.6 billion.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
