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Friday, August 31, 2012

Philippine Thrift Banks Continue to Improve in the First Quarter of 2012

Editor's Note: The Philippine Deposit Insurance Corporation (PDIC) advised consumers to wisely choose the banks where they will deposit their money. The trouble is, most depositors don't and can't read financial statements before they open a bank account. The regulators, whose job is to safeguard the public's money, have not done a good job recently.  In the past ten years, two commercial banks, twenty-one thrift banks, and a staggering 187 rural banks have collapsed, often quite suddenly and without warning:  http://www.gmanetwork.com/news/video/93600/saksi-pagsasara-ng-banco-filipino-at-lbc-devt-bank-ikinadismaya.  Regulators do have a problem bank list that they do not divulge to the public, for fear of sparking another bank run. So who can the public turn to, to advise them where to put their money? No one, except the banks themselves who will always promote their self-interests. This analysis is an attempt to fill in that knowledge gap, by screening out the weaker banks that seem ready to implode at any given moment.

Editor's Note: The ratio of Distressed Assets to Total Capital Cushion is a variant of the famous Texas Ratio, which was widely used by US financial regulators to predict bank failure during the US Savings and Loan Crisis in the 1980s and early 1990s. The basic premise is that a bank with Distressed Assets greater than its Capital Cushion is in danger of insolvency, because a significant drop in the value of  the Distressed Assets will eat into a significant amount of the bank's capital.  A bank that has a Distressed Ratio greater than 100% is flagged as borderline insolvent (highlighted in yellow).  For a more detailed discussion of this ratio, please visit a previous blog post: The Texas Ratio of Select Philippine Banks 

Distressed Banks:

The list of distressed thrift banks are as follows:

  1. Real Bank (A Thrift Bank) Inc. (Distressed Ratio of 1125.30%)
  2. Village SLA, Inc. (Distressed Ratio of 709.55%)
  3. GSIS Family Bank (Distressed Ratio of 477.72%)
  4. Legazpi Savings Bank Inc. (Distressed Ratio of 417.83%)
  5. Iloilo City Development Bank (Distressed Ratio of 391.87%)
  6. Planters Development Bank (Distressed Ratio of 258.50%)
  7. Bataan Development Bank (Distressed Ratio of 234.00%)
  8. Business & Consumers Bank (Distressed Ratio of 209.76%)
  9. Philippine Resources Savings Banking Corporation (Distressed Ratio of 207.83%)
  10. Farmers Savings & Loan Bank (Distressed Ratio of 179.10%)
  11. RCBC Savings Bank (Distressed Ratio of 206.28%)
  12. Opportunity Microfinance Bank (Distressed Ratio of 172.96%)
  13. Equicom SB (Distressed Ratio of 158.65%)
  14. Hiyas Savings & Loan Bank (Distressed Ratio of 143,55%)
  15. China Bank Savings (Distressed Ratio of 142.52%)
  16. University Savings Bank (Distressed Ratio of 138.80%)
  17. Malayan Bank Savings & Mortgage Bank (Distressed Ratio of 130.88%)
  18. Luzon Development Bank (Distressed Ratio of 124.05%)
  19. Dumaguete City Development Bank (Distressed Ratio of 122.29%)
  20. Philippine Postal Savings Bank (Distressed Ratio of 105.28%)
It should be noted that two banks dropped out of the borderline insolvent list (highlighted in yellow):
  1. Citibank Savings Inc., which had a distressed ratio of 113.30% as of December 31, 2011, decreased its distressed assets by PhP 174.5 million while increasing its capital cushion by PhP 697.4 million in the first quarter of 2012.  This resulted in a 18.93% improvement in its overall distressed ratio from 113.30% as of December 31, 2011 to only 91.85% as of March 31, 2012.
  2. Premiere Development Bank's increase in capital cushion by PhP 471 million offset the increase in its distressed assets (PhP 69.5 million) during the first quarter of 2012.  As a result, its distressed ratio dropped from 129.41% as of December 31, 2011 to only 91.58% as of March 31, 2012 - a 29.23% improvement in its distressed ratios.
It should also be noted that two banks entered the borderline insolvent list:
  1. Philippine Postal Savings Bank dropped out of the list in the fourth quarter of 2011, only to reenter it in the first quarter of 2012 with a 37.48% deterioration in its distressed ratios from 76.58% as of December 31, 2011 to 105.28% as of March 31, 2012.  The increase was primarily due to the PhP 240.5 million jump in distressed assets during the first quarter of 2012.
  2. Philippine Resource Savings Banking Corporation is new to the list and a new entrant to the list of Phiippine Thrift Banks.  It's distressed ratio stood at 207.83% as of March 31, 2012.
It should also be noted that City Savings Bank, which was the second most insolvent Philippine Thrift Bank as of year end 2011, did not have a published statement of condition as of March 31, 2012.

Overall Condition

Based on the individual Published Statements of Condition for the Philippine Thrift Banking Industry (from www.bsp.gov.ph), Total Distressed Assets of Philippine Thrift Banks decreased by PhP 8.672 billion or 8.82% from December 31, 2011 to March 31, 2012.  Total Capital Cushion of Philippine Thrift Banks increased by PhP 911.337 billion or 15.19% during the same period.  As a result, the Thrift Bank's Ratio of Total Distressed Assets to Total Capital Cushion decreased by 20.84%, from 131.78% as of December 31, 2011 to 104.32% as of March 31, 2012.

The banks that posted as significant improvement in their distressed ratios include:
  1. HSBC Savings Bank (Phils) Inc. (44.37% decrease)
  2. Progress SLA (44.34% decrease)
  3. Optimum Development Bank (41.84% decrease)
  4. Premiere Development Bank (29.23% decrease)
  5. Microfinance Maximum SB (27.92 decrease)
  6. China Bank Savings (26.03% decrease)
  7. Card SME Bank (25.87% decrease)
  8. Philippine Savings Bank (22.85% decrease)
  9. Pacific Ace Savings Bank (22.78% decrease)
  10. BPI Family Savings Bank (21.28% decrease)
The banks that exhibited a significant deterioration in their distressed ratio include:
  1. Merchants Savings & Loan Association Inc. (539.68% increase)
  2. BPI Globe Bangko Inc. Savings Bank (151.08% increase)
  3. CityState Savings Bank (50.36% increase)
  4. Allied Savings Bank (39.01% increase)
  5. Philippine Postal Savings Bank (37.48% increase)
  6. Dungganon Bank (31.41% increase)
  7. Real Bank (A Thrift Bank) Inc. (23.95 increase)



Disclaimer:

This list only serves as a screening guide.  It is not a definitive guide and must be taken in the context of other factors.  The figures are based on the individual banks' statement of condition as of December 31, 2011 and March 31, 2012 as published in the BSP website (www.bsp.gov.ph). For this analysis, no attempt was made to go through the audited financial statements of each bank. Readers are suggested to make their own investigations and verify the figures presented. Both BSP and PDIC have their own problem bank screening systems that are much more sophisticated in scope and design, given that they have more access to information over the banks they regulate.


Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
December 31, 2011 to March 31, 2012















Bank 12/31/11 03/31/12 Variance % Variance
Merchants Savings & Loan Association Inc. 1.69% 10.80% 9.11% 539.68%
BPI Globe Banko Inc. Savings Bank 8.78% 22.05% 13.27% 151.08%
CityState Savings Bank 22.75% 34.20% 11.45% 50.36%
Allied Savings Bank 29.74% 41.34% 11.60% 39.01%
Philippine Postal Savings Bank 76.58% 105.28% 28.70% 37.48%
Dungganon Bank 10.19% 13.38% 3.20% 31.41%
Real Bank (A Thrift Bank) Inc. 907.88% 1125.30% 217.42% 23.95%
Opportunity Microfinance Bank 155.56% 172.38% 16.82% 10.81%
Bataan SLA 11.92% 13.16% 1.24% 10.42%
Life Savings Bank 54.99% 59.35% 4.36% 7.93%
Quezon Coconut Producers SLB Inc. 46.57% 49.96% 3.39% 7.28%
Penbank, Inc. 79.98% 84.67% 4.69% 5.87%
BPI Direct Savings Bank 21.65% 22.89% 1.24% 5.73%
GSIS Family Bank 452.17% 477.72% 25.55% 5.65%
Isla Bank (A Thrift Bank) Inc. 8.23% 8.67% 0.44% 5.37%
Malayan Bank Savings & Mortgage Bank 125.56% 130.88% 5.32% 4.24%
Planters Development Bank 248.91% 258.50% 9.58% 3.85%
Business & Consumers Bank 204.37% 209.76% 5.39% 2.64%
Century Savings Bank 4.80% 4.91% 0.11% 2.23%
Maritime SLA 31.98% 32.60% 0.62% 1.93%
Luzon Development Bank 121.92% 124.05% 2.13% 1.75%
Lemery Savings & Loan Bank, Inc. 47.11% 47.58% 0.48% 1.01%
World Partners Bank (A Thrift Bank) 63.32% 63.94% 0.63% 0.99%
Pridestar Development Bank 59.03% 59.39% 0.35% 0.60%
Tong Yang Savings Bank Inc. 65.94% 66.07% 0.12% 0.19%
UCPB Savings Bank 46.79% 46.75% -0.05% -0.10%
The Queen City Development Bank 21.58% 21.56% -0.02% -0.11%
Dumaguete City Development Bank 122.90% 122.29% -0.61% -0.50%
Bataan Development Bank 236.64% 234.00% -2.64% -1.12%
Village SLA, Inc. 720.61% 709.55% -11.06% -1.54%
Sampaguita SLA 52.63% 51.39% -1.24% -2.36%
BDO Elite Savings Bank 6.35% 6.19% -0.16% -2.50%
Sun Savings Bank 8.38% 8.14% -0.24% -2.84%
United Overseas Bank Philippines 66.55% 64.49% -2.06% -3.09%
Pampanga Development Bank 68.24% 65.89% -2.35% -3.44%
Wealth Bank - A Development Bank 82.40% 79.38% -3.02% -3.66%
Cordillera Savings Bank 59.17% 56.67% -2.50% -4.23%
First Consolidated Bank 59.25% 56.04% -3.21% -5.42%
Farmers Savings & Loan Bank 190.61% 179.10% -11.51% -6.04%
Sterling Bank of Asia Inc. 77.60% 72.79% -4.81% -6.20%
Hiyas Savings & Loan Bank 153.26% 143.55% -9.71% -6.34%
Equicom SB 171.10% 158.65% -12.45% -7.28%
Metro Cebu Public Savings Bank 81.78% 73.28% -8.50% -10.39%
Producers Savings Bank 99.46% 88.89% -10.56% -10.62%
Malasiqui Progressive SLB, Inc. 41.12% 35.94% -5.18% -12.61%
Philippine Business Bank 80.93% 70.09% -10.84% -13.39%
Legazpi Savings Bank Inc. 482.76% 417.83% -64.93% -13.45%
University Savings Bank 161.00% 138.80% -22.20% -13.79%
RCBC Savings Bank 206.28% 172.96% -33.32% -16.15%
Tower Development Bank 62.04% 51.55% -10.50% -16.92%
Iloilo City Development Bank 475.13% 391.87% -83.26% -17.52%
Northpoint Development Bank 62.93% 51.53% -11.39% -18.11%
Citibank Savings Inc. 113.30% 91.85% -21.44% -18.93%
Liberty Savings Bank 73.40% 58.90% -14.50% -19.76%
BPI Family Savings Bank 90.32% 71.09% -19.22% -21.28%
Pacific Ace Savings Bank 20.19% 15.59% -4.60% -22.78%
Philippine Savings Bank 105.18% 81.15% -24.03% -22.85%
Card SME Bank Inc. (A Thrift Bank) 31.86% 23.62% -8.24% -25.87%
China Bank Savings 192.68% 142.52% -50.15% -26.03%
Microfinance Maximum SB (Maxbank) 64.53% 46.51% -18.02% -27.92%
Premiere Development Bank 129.41% 91.58% -37.82% -29.23%
Optimum Development Bank 27.60% 16.05% -11.55% -41.84%
Progress SLA 14.23% 7.92% -6.31% -44.34%
HSBC Savings Bank (Phils) Inc. 17.10% 9.51% -7.59% -44.37%
Bank One Savings and Trust Corp. NA 10.83% NA NA
City Savings Bank 776.02% NA NA NA
Philippine Resources Savings Banking Corporation NA 207.83% NA NA
Average 131.78% 104.32% -27.46% -20.84%


Source: www.bsp.gov.ph


Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
December 31, 2011 to March 31, 2012


























December 31, 2011


March 31, 2012


Variance
Bank Total Distressed Assets (In PHP) Total Capital Cushion (In PHP) Distressed Assets/ Total Capital Cushion (In %)
Total Distressed Assets (In PHP) Total Capital Cushion (In PHP) Distressed Assets/ Total Capital Cushion (In %)
Total Distressed Assets (In PHP) Total Capital Cushion (In PHP) Distressed Assets/ Total Capital Cushion (In %)
Real Bank (A Thrift Bank) Inc. 9,485,964,146.12 1,044,846,977.77 907.88%
9,290,372,249.91 825,587,293.41 1125.30%
-195,591,896.21 -219,259,684.36 217.42%
Village SLA, Inc. 600,181,101.60 83,288,037.75 720.61%
612,655,357.33 86,344,754.81 709.55%
12,474,255.73 3,056,717.06 -11.06%
GSIS Family Bank 2,204,761,117.36 487,593,604.82 452.17%
2,216,709,927.78 464,020,110.73 477.72%
11,948,810.42 -23,573,494.09 25.55%
Legazpi Savings Bank Inc. 823,599,656.19 170,602,061.13 482.76%
788,905,245.31 188,812,023.99 417.83%
-34,694,410.88 18,209,962.86 -64.93%
Iloilo City Development Bank 287,326,192.05 60,472,657.10 475.13%
255,784,329.12 65,272,215.10 391.87%
-31,541,862.93 4,799,558.00 -83.26%
Planters Development Bank 10,936,549,252.26 4,393,722,453.79 248.91%
11,509,763,345.38 4,452,573,423.58 258.50%
573,214,093.12 58,850,969.79 9.58%
Bataan Development Bank 175,335,975.57 74,095,120.90 236.64%
179,150,197.61 76,561,456.79 234.00%
3,814,222.04 2,466,335.89 -2.64%
Business & Consumers Bank 160,491,202.74 78,531,520.78 204.37%
169,610,770.04 80,860,999.25 209.76%
9,119,567.30 2,329,478.47 5.39%
Philippine Resources Savings Banking Corporation



2,520,580,635.97 1,212,811,159.39 207.83%
2,520,580,635.97 1,212,811,159.39 207.83%
Farmers Savings & Loan Bank 222,707,597.45 116,837,900.36 190.61%
214,021,290.23 119,495,878.00 179.10%
-8,686,307.22 2,657,977.64 -11.51%
RCBC Savings Bank 13,658,977,955.49 6,621,590,303.77 206.28%
13,598,190,601.18 7,861,976,886.63 172.96%
-60,787,354.31 1,240,386,582.86 -33.32%
Opportunity Microfinance Bank 213,959,344.39 137,541,004.61 155.56%
242,994,816.88 140,966,660.91 172.38%
29,035,472.49 3,425,656.30 16.82%
Equicom SB 808,587,759.96 472,581,826.89 171.10%
801,463,255.03 505,169,694.78 158.65%
-7,124,504.93 32,587,867.89 -12.45%
Hiyas Savings & Loan Bank 252,118,703.13 164,502,210.42 153.26%
236,466,976.10 164,731,409.03 143.55%
-15,651,727.03 229,198.61 -9.71%
China Bank Savings 1,584,223,044.88 822,218,155.26 192.68%
1,672,743,819.51 1,173,665,055.26 142.52%
88,520,774.63 351,446,900.00 -50.15%
University Savings Bank 336,071,927.21 208,738,927.20 161.00%
316,376,243.80 227,936,477.06 138.80%
-19,695,683.41 19,197,549.86 -22.20%
Malayan Bank Savings & Mortgage Bank 1,350,230,409.26 1,075,379,215.58 125.56%
1,407,474,426.81 1,075,379,215.98 130.88%
57,244,017.55 0.40 5.32%
Luzon Development Bank 532,693,730.92 436,917,967.42 121.92%
550,869,696.74 444,071,923.87 124.05%
18,175,965.82 7,153,956.45 2.13%
Dumaguete City Development Bank 250,453,271.44 203,793,878.67 122.90%
252,146,106.06 206,193,126.17 122.29%
1,692,834.62 2,399,247.50 -0.61%
Philippine Postal Savings Bank 621,326,704.16 811,348,052.94 76.58%
861,789,478.39 818,586,509.18 105.28%
240,462,774.23 7,238,456.24 28.70%
Citibank Savings Inc. 4,306,662,719.49 3,801,262,095.38 113.30%
4,132,188,920.79 4,498,629,545.94 91.85%
-174,473,798.70 697,367,450.56 -21.44%
Premiere Development Bank 1,238,115,801.58 956,754,306.80 129.41%
1,307,625,402.15 1,427,802,395.52 91.58%
69,509,600.57 471,048,088.72 -37.82%
Producers Savings Bank 524,647,770.68 527,512,390.32 99.46%
571,001,212.84 642,350,700.67 88.89%
46,353,442.16 114,838,310.35 -10.56%
Penbank, Inc. 203,776,641.17 254,791,038.35 79.98%
215,732,452.02 254,791,038.35 84.67%
11,955,810.85 0.00 4.69%
Philippine Savings Bank 14,651,257,542.20 13,929,160,698.54 105.18%
13,601,325,210.06 16,759,739,786.84 81.15%
-1,049,932,332.14 2,830,579,088.30 -24.03%
Wealth Bank - A Development Bank 325,647,054.51 395,185,869.59 82.40%
320,723,480.31 404,016,447.07 79.38%
-4,923,574.20 8,830,577.48 -3.02%
Metro Cebu Public Savings Bank 60,688,042.71 74,212,433.16 81.78%
60,428,625.04 82,461,425.57 73.28%
-259,417.67 8,248,992.41 -8.50%
Sterling Bank of Asia Inc. 1,322,961,691.54 1,704,899,830.40 77.60%
1,340,490,929.25 1,841,699,407.90 72.79%
17,529,237.71 136,799,577.50 -4.81%
BPI Family Savings Bank 12,610,665,029.99 13,962,882,381.92 90.32%
12,108,718,892.33 17,032,382,062.40 71.09%
-501,946,137.66 3,069,499,680.48 -19.22%
Philippine Business Bank 2,245,124,379.02 2,774,250,378.64 80.93%
2,468,927,091.97 3,522,480,360.07 70.09%
223,802,712.95 748,229,981.43 -10.84%
Tong Yang Savings Bank Inc. 292,428,936.38 443,455,225.55 65.94%
294,036,660.28 445,066,651.62 66.07%
1,607,723.90 1,611,426.07 0.12%
Pampanga Development Bank 82,116,804.28 120,343,323.41 68.24%
83,151,645.70 126,202,725.13 65.89%
1,034,841.42 5,859,401.72 -2.35%
United Overseas Bank Philippines 988,810,901.35 1,485,808,841.71 66.55%
933,928,979.82 1,448,098,996.81 64.49%
-54,881,921.53 -37,709,844.90 -2.06%
World Partners Bank (A Thrift Bank) 110,271,753.07 174,159,550.30 63.32%
109,319,030.79 170,966,160.68 63.94%
-952,722.28 -3,193,389.62 0.63%
Pridestar Development Bank 42,604,026.52 72,170,956.24 59.03%
42,219,537.59 71,093,548.88 59.39%
-384,488.93 -1,077,407.36 0.35%
Life Savings Bank 34,997,589.10 63,645,807.09 54.99%
39,251,089.09 66,138,275.39 59.35%
4,253,499.99 2,492,468.30 4.36%
Liberty Savings Bank 43,839,885.29 59,726,549.24 73.40%
37,518,711.95 63,701,027.16 58.90%
-6,321,173.34 3,974,477.92 -14.50%
Cordillera Savings Bank 73,228,594.72 123,766,715.93 59.17%
70,184,283.70 123,858,192.76 56.67%
-3,044,311.02 91,476.83 -2.50%
First Consolidated Bank 991,754,217.92 1,673,870,535.21 59.25%
1,040,606,604.46 1,856,880,353.48 56.04%
48,852,386.54 183,009,818.27 -3.21%
Tower Development Bank 69,910,740.60 112,678,828.58 62.04%
58,084,767.24 112,678,828.58 51.55%
-11,825,973.36 0.00 -10.50%
Northpoint Development Bank 37,247,922.10 59,193,177.23 62.93%
28,911,591.89 56,103,745.64 51.53%
-8,336,330.21 -3,089,431.59 -11.39%
Sampaguita SLA 36,391,748.93 69,148,222.58 52.63%
37,761,063.58 73,481,194.82 51.39%
1,369,314.65 4,332,972.24 -1.24%
Quezon Coconut Producers SLB Inc. 26,669,937.24 57,268,623.22 46.57%
28,611,592.80 57,268,623.22 49.96%
1,941,655.56 0.00 3.39%
Lemery Savings & Loan Bank, Inc. 34,803,555.75 73,882,141.35 47.11%
33,750,897.82 70,929,116.35 47.58%
-1,052,657.93 -2,953,025.00 0.48%
UCPB Savings Bank 1,032,980,696.92 2,207,463,095.83 46.79%
1,030,048,650.10 2,203,418,599.36 46.75%
-2,932,046.82 -4,044,496.47 -0.05%
Microfinance Maximum SB (Maxbank) 39,506,859.85 61,222,373.26 64.53%
28,970,906.57 62,286,572.17 46.51%
-10,535,953.28 1,064,198.91 -18.02%
Allied Savings Bank 301,699,489.80 1,014,585,418.07 29.74%
417,741,191.77 1,010,574,472.46 41.34%
116,041,701.97 -4,010,945.61 11.60%
Malasiqui Progressive SLB, Inc. 22,545,447.81 54,828,649.13 41.12%
19,781,785.50 55,048,215.23 35.94%
-2,763,662.31 219,566.10 -5.18%
CityState Savings Bank 183,238,709.70 805,583,903.62 22.75%
278,638,718.52 814,736,342.62 34.20%
95,400,008.82 9,152,439.00 11.45%
Maritime SLA 22,008,969.77 68,824,229.22 31.98%
22,437,333.91 68,833,229.22 32.60%
428,364.14 9,000.00 0.62%
Card SME Bank Inc. (A Thrift Bank) 44,750,007.39 140,444,945.62 31.86%
35,612,569.77 150,765,995.91 23.62%
-9,137,437.62 10,321,050.29 -8.24%
BPI Direct Savings Bank 154,986,189.75 715,894,536.42 21.65%
192,765,341.89 842,173,596.94 22.89%
37,779,152.14 126,279,060.52 1.24%
BPI Globe Banko Inc. Savings Bank 48,463,565.60 551,847,301.15 8.78%
115,638,821.68 524,444,707.32 22.05%
67,175,256.08 -27,402,593.83 13.27%
The Queen City Development Bank 150,795,153.67 698,722,234.47 21.58%
148,964,053.39 691,016,996.13 21.56%
-1,831,100.28 -7,705,238.34 -0.02%
Optimum Development Bank 177,091,389.88 641,570,262.55 27.60%
110,314,399.99 687,108,808.57 16.05%
-66,776,989.89 45,538,546.02 -11.55%
Pacific Ace Savings Bank 14,654,703.21 72,593,155.07 20.19%
11,952,763.66 76,675,258.62 15.59%
-2,701,939.55 4,082,103.55 -4.60%
Dungganon Bank 6,144,035.78 60,321,880.63 10.19%
8,625,732.80 64,443,329.59 13.38%
2,481,697.02 4,121,448.96 3.20%
Bataan SLA 9,520,893.58 79,897,380.54 11.92%
10,355,017.82 78,699,471.64 13.16%
834,124.24 -1,197,908.90 1.24%
Bank One Savings and Trust Corp. NA NA NA
56,734,307.10 523,963,118.72 10.83%
NA NA NA
Merchants Savings & Loan Association Inc. 12,176,854.20 721,264,073.21 1.69%
72,283,885.91 669,331,235.75 10.80%
60,107,031.71 -51,932,837.46 9.11%
HSBC Savings Bank (Phils) Inc. 313,101,336.61 1,830,846,012.02 17.10%
274,773,025.74 2,888,194,472.00 9.51%
-38,328,310.87 1,057,348,459.98 -7.59%
Isla Bank (A Thrift Bank) Inc. 51,492,341.60 625,764,495.92 8.23%
54,788,316.84 631,893,880.25 8.67%
3,295,975.24 6,129,384.33 0.44%
Sun Savings Bank 6,141,691.01 73,296,710.78 8.38%
6,258,125.99 76,867,112.54 8.14%
116,434.98 3,570,401.76 -0.24%
Progress SLA 12,101,531.88 85,031,839.07 14.23%
6,718,147.53 84,802,928.79 7.92%
-5,383,384.35 -228,910.28 -6.31%
BDO Elite Savings Bank 93,351,974.68 1,470,452,260.33 6.35%
93,317,372.04 1,507,557,562.16 6.19%
-34,602.64 37,105,301.83 -0.16%
Century Savings Bank 40,666,399.73 846,901,386.59 4.80%
42,961,702.12 875,210,065.34 4.91%
2,295,302.39 28,308,678.75 0.11%
City Savings Bank 10,776,774,942.32 1,388,719,074.33 776.02%
NA NA NA
NA NA NA
Grand Total 98,374,375,563.06 74,650,707,015.73 131.78%
89,702,249,613.29 85,987,882,856.10 104.32%
-8,672,125,949.77 11,337,175,840.37 -27.46%

Source: www.bsp.gov.ph


Disclaimer:

This list only serves as a screening guide.  It is not a definitive guide and must be taken in the context of other factors.  The figures are based on the individual banks' statement of condition as of December 31, 2011 and March 31, 2012 as published in the BSP website (www.bsp.gov.ph). For this analysis, no attempt was made to go through the audited financial statements of each bank. Readers are suggested to make their own investigations and verify the figures presented. Both BSP and PDIC have their own problem bank screening systems that are much more sophisticated in scope and design, given that they have more access to information over the banks they regulate. 

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