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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.

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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.

RELATED: List of Philippine Banks Swift Code/BIC (Meaning & How To Use)

HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

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

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

Bisitahin ang Usapang Hanapbuhay Facebook Group para sa iba pang tips at mga diskarte sa pera!


Like Usapang Hanapbuhay Facebook page for other updates!
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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.

Loading...

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.

RELATED: List of Philippine Banks Swift Code/BIC (Meaning & How To Use)

HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

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

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

Bisitahin ang Usapang Hanapbuhay Facebook Group para sa iba pang tips at mga diskarte sa pera!


Like Usapang Hanapbuhay Facebook page for other updates!
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