Philippine Thrift Banks Continue to Improve in the 2nd 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..  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. Village SLA, Inc. (Distressed Ratio of 538.63%)
2. Comsavings Bank (formerly GSIS Family Bank) (Distressed Ratio of 488.43%)
3. Legazpi Savings Bank Inc. (Distressed Ratio of 409.75%)
4. Iloilo City Development Bank (Distressed Ratio of 393.63%)
5. Planters Development Bank (Distressed Ratio of 248.49%)
6. Bataan Development Bank (Distressed Ratio of 231.45%)
7. RCBC Savings Bank (Distressed Ratio of 194.60%)
8. Farmers Savings & Loan Bank (Distressed Ratio of 175.94%)
9. Business & Consumers Bank (Distressed Ratio of 169.76%)
10. Opportunity Kauswagan Bank, Inc. (Distressed Ratio of 159.32%)
11. University Savings Bank (Distressed Ratio of 151.04%)
12. China Bank Savings (Distressed Ratio of 141.86%)
13. Hiyas Savings & Loan Bank (Distressed Ratio of 139.65%)
14. Equicom SB (Distressed Ratio of 135.09%)
15. Malayan Bank Savings & Mortgage Bank (Distressed Ratio of 128.44%)
16. Luzon Development Bank (Distressed Ratio of 127.79%)
17. Philippine Resources Savings Banking Corporation (Distressed Ratio of 122.60%)
18. Silangan Savings and Loan Bank, Inc. (Distressed Ratio of 112.16%)
19. Philippine Postal Savings Bank (Distressed Ratio of 101.44%)

It should be noted that three banks dropped out of the borderline insolvent list (highlighted in yellow):

1. Dumaguete City Development Bank, which had a distressed ratio of 122.29% as of March 31, 2012, decreased its distressed assets by Php 34.971 million while increasing its capital cushion by Php 11.084 million in the second quarter of 2012.  This resulted in a 18.26% improvement in its overall distressed ratio from 122.29% as of March 31, 2012 to only 99.95% as of June 30, 2012.
2. City Savings Bank decreased its distressed assets by an astounding Php 12.143 billion in the second quarter of 2012, a drop of 96.33% in one quarter.  As a result, its distressed ratio dropped from a very high 636.60% as of March 31, 2012 (third highest among the thrift banks) to only 23.30% as of June 30, 2012 - a 96.34% improvement in its distressed ratios.
3. Real Bank, which posted the highest distressed ratio of 1125.30% as of March 31, 2012, had no data available as of June 30, 2012

It should also be noted that one bank entered the borderline insolvent list:

1. Silangan Savings and Loan Bank, Inc. had no data available for the quarters prior to June 30, 2012. As of June 30, 2012, it had a distressed ratio of 112.16%.  

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 23.475 billion or 22.95% from March 31, 2012 to June 30, 2012.  Total Capital Cushion of Philippine Thrift Banks also decreased by Php 2.504 billion or 2.85% during the same period.  As a result, the Thrift Bank's Ratio of Total Distressed Assets to Total Capital Cushion decreased by 20.69%, from 116.30% as of March 31, 2012 to 92.24% as of June 30, 2012.

The banks that posted as significant improvement in their distressed ratios include:

1. City Savings Bank (96.34% decrease)
2. Card SME Bank Inc. (55.41% decrease)
3. Philippine Resources Savings Banking Corporation (41.01% decrease)
4. Penbank, Inc. (26.79% decrease)
5. Village SLA, Inc. (24.09% decrease)
6. Tower Development Bank (23.33% decrease)

The banks that exhibited a significant deterioration in their distressed ratio include:

1. Merchants Savings & Loan Association Inc. (428.59% increase)
2. Bank One Savings and Trust Corp (263.28% increase)
3. Century Savings Bank (50.12% increase)
4. Microfinance Maximum SB (35.76% increase)
5. Pacific Ace Savings Bank (32.65% increase)
6. Sampaguita SLA (21.84% increase)

It should also be noted that one thrift bank, Liberty Savings Bank converted into a rural bank during the second quarter of 2012.

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 March 31, 2012 and June 30, 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
March 31, 2012 to June 30, 2012
Bank	Mar 31, 2012	Jun 30, 2012	Variance	% Variance
Merchants Savings & Loan Association Inc.	10.80%	57.08%	46.28%	428.59%
Bank One Savings and Trust Corp.	10.83%	39.34%	28.51%	263.28%
Century Savings Bank	4.91%	7.37%	2.46%	50.12%
Microfinance Maximum SB (Maxbank)	46.51%	63.14%	16.63%	35.76%
Pacific Ace Savings Bank	15.59%	20.68%	5.09%	32.65%
Sampaguita SLA	51.39%	62.61%	11.22%	21.84%
Dungganon Bank	13.38%	15.98%	2.60%	19.40%
Metro Cebu Public Savings Bank	73.28%	86.62%	13.34%	18.20%
Maritime SLA	32.60%	38.29%	5.69%	17.45%
Northpoint Development Bank	51.53%	59.84%	8.31%	16.12%
BPI Direct Savings Bank	22.89%	26.54%	3.66%	15.97%
RCBC Savings Bank	172.96%	194.60%	21.64%	12.51%
BPI Globe Banko Inc. Savings Bank	22.05%	24.68%	2.63%	11.94%
Producers Savings Bank	88.89%	98.76%	9.87%	11.10%
Cordillera Savings Bank	56.67%	62.82%	6.15%	10.86%
Philippine Business Bank	70.09%	77.04%	6.95%	9.92%
CityState Savings Bank	34.20%	37.45%	3.25%	9.49%
University Savings Bank	138.80%	151.04%	12.24%	8.82%
Bataan SLA	13.16%	14.22%	1.06%	8.06%
Wealth Bank - A Development Bank	79.38%	85.11%	5.72%	7.21%
Sun Savings Bank	8.14%	8.61%	0.47%	5.78%
Pampanga Development Bank	65.89%	67.91%	2.02%	3.07%
Luzon Development Bank	124.05%	127.79%	3.74%	3.02%
Comsavings Bank	477.72%	488.43%	10.71%	2.24%
Isla Bank (A Thrift Bank) Inc.	8.67%	8.85%	0.18%	2.05%
The Queen City Development Bank	21.56%	21.96%	0.40%	1.88%
Philippine Savings Bank	81.15%	82.27%	1.12%	1.38%
HSBC Savings Bank (Phils) Inc.	9.51%	9.61%	0.09%	0.99%
Life Savings Bank	59.35%	59.79%	0.45%	0.75%
Iloilo City Development Bank	391.87%	393.63%	1.76%	0.45%
UCPB Savings Bank	46.75%	46.92%	0.17%	0.36%
BDO Elite Savings Bank	6.19%	6.19%	0.00%	0.03%
China Bank Savings	142.52%	141.86%	-0.66%	-0.46%
Bataan Development Bank	234.00%	231.45%	-2.55%	-1.09%
BPI Family Savings Bank	71.09%	70.13%	-0.96%	-1.35%
Farmers Savings & Loan Bank	179.10%	175.94%	-3.16%	-1.76%
Malayan Bank Savings & Mortgage Bank	130.88%	128.44%	-2.44%	-1.87%
Legazpi Savings Bank Inc.	417.83%	409.75%	-8.08%	-1.93%
Progress SLA	7.92%	7.74%	-0.19%	-2.36%
Hiyas Savings & Loan Bank	143.55%	139.65%	-3.89%	-2.71%
Lemery Savings & Loan Bank, Inc.	47.58%	46.19%	-1.40%	-2.94%
Citibank Savings Inc.	91.85%	88.99%	-2.86%	-3.11%
Philippine Postal Savings Bank	105.28%	101.44%	-3.84%	-3.65%
Planters Development Bank	258.50%	248.49%	-10.00%	-3.87%
United Overseas Bank Philippines	64.49%	61.51%	-2.99%	-4.63%
Pridestar Development Bank	59.39%	56.60%	-2.79%	-4.69%
Allied Savings Bank	41.34%	39.12%	-2.22%	-5.37%
Optimum Development Bank	16.05%	15.14%	-0.92%	-5.73%
Sterling Bank of Asia Inc.	72.79%	67.62%	-5.16%	-7.09%
Tong Yang Savings Bank Inc.	66.07%	61.10%	-4.96%	-7.51%
Opportunity Kauswagan Bank, Inc.	172.38%	159.32%	-13.05%	-7.57%
World Partners Bank (A Thrift Bank)	63.94%	57.33%	-6.61%	-10.34%
Quezon Coconut Producers SLB Inc.	49.96%	44.55%	-5.41%	-10.84%
First Consolidated Bank	56.04%	48.50%	-7.54%	-13.45%
Equicom SB	158.65%	135.09%	-23.56%	-14.85%
Malasiqui Progressive SLB, Inc.	35.94%	30.04%	-5.89%	-16.40%
Security Bank Savings Corporation	91.58%	76.28%	-15.30%	-16.71%
Dumaguete City Development Bank	122.29%	99.95%	-22.33%	-18.26%
Business & Consumers Bank	209.76%	169.76%	-39.99%	-19.07%
Tower Development Bank	51.55%	39.52%	-12.02%	-23.33%
Village SLA, Inc.	709.55%	538.63%	-170.92%	-24.09%
Penbank, Inc.	84.67%	61.99%	-22.68%	-26.79%
Philippine Resources Savings Banking Corporation	207.83%	122.60%	-85.23%	-41.01%
Card SME Bank Inc. (A Thrift Bank)	23.62%	10.53%	-13.09%	-55.41%
City Savings Bank	636.60%	23.30%	-613.31%	-96.34%
Liberty Savings Bank	58.90%	NA	NA	NA
Real Bank (A Thrift Bank) Inc.	1125.30%	NA	NA	NA
Silangan Savings and Loan Bank, Inc.	NA	112.16%	NA	NA
Grand Total	104.32%	92.24%	-12.08%	-11.58%

Source: www.bsp.gov.ph

Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
March 31, 2012 to June 30, 2012
		March 31, 2012				June 30, 2012				Variance				% 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 %)		Total Distressed Assets (In PHP)	Total Capital Cushion (In PHP)	Distressed Assets/ Total Capital Cushion (In %)
Village SLA, Inc.	612,655,357.33	86,344,754.81	709.55%		461,071,117.97	85,601,162.41	538.63%		-151,584,239.36	-743,592.40	-170.92%		-24.74%	-0.86%	-24.09%
Comsavings Bank	2,216,709,927.78	464,020,110.73	477.72%		2,208,670,807.21	452,199,610.73	488.43%		-8,039,120.57	-11,820,500.00	10.71%		-0.36%	-2.55%	2.24%
Legazpi Savings Bank Inc.	788,905,245.31	188,812,023.99	417.83%		780,780,602.74	190,550,893.59	409.75%		-8,124,642.57	1,738,869.60	-8.08%		-1.03%	0.92%	-1.93%
Iloilo City Development Bank	255,784,329.12	65,272,215.10	391.87%		260,017,320.80	66,055,710.31	393.63%		4,232,991.68	783,495.21	1.76%		1.65%	1.20%	0.45%
Planters Development Bank	11,509,763,345.38	4,452,573,423.58	258.50%		11,165,041,937.84	4,493,071,814.41	248.49%		-344,721,407.54	40,498,390.83	-10.00%		-3.00%	0.91%	-3.87%
Bataan Development Bank	179,150,197.61	76,561,456.79	234.00%		183,018,354.25	79,075,920.15	231.45%		3,868,156.64	2,514,463.36	-2.55%		2.16%	3.28%	-1.09%
RCBC Savings Bank	13,598,190,601.18	7,861,976,886.63	172.96%		13,878,811,926.12	7,131,983,741.37	194.60%		280,621,324.94	-729,993,145.26	21.64%		2.06%	-9.29%	12.51%
Farmers Savings & Loan Bank	214,021,290.23	119,495,878.00	179.10%		208,209,608.72	118,338,500.90	175.94%		-5,811,681.51	-1,157,377.10	-3.16%		-2.72%	-0.97%	-1.76%
Business & Consumers Bank	169,610,770.04	80,860,999.25	209.76%		134,035,191.32	78,955,187.35	169.76%		-35,575,578.72	-1,905,811.90	-39.99%		-20.97%	-2.36%	-19.07%
Opportunity Kauswagan Bank, Inc.	242,994,816.88	140,966,660.91	172.38%		198,389,464.35	124,518,919.38	159.32%		-44,605,352.53	-16,447,741.53	-13.05%		-18.36%	-11.67%	-7.57%
University Savings Bank	316,376,243.80	227,936,477.06	138.80%		345,277,947.66	228,592,781.95	151.04%		28,901,703.86	656,304.89	12.24%		9.14%	0.29%	8.82%
China Bank Savings	1,672,743,819.51	1,173,665,055.26	142.52%		1,446,154,272.29	1,019,400,071.90	141.86%		-226,589,547.22	-154,264,983.36	-0.66%		-13.55%	-13.14%	-0.46%
Hiyas Savings & Loan Bank	236,466,976.10	164,731,409.03	143.55%		240,065,531.78	171,902,352.90	139.65%		3,598,555.68	7,170,943.87	-3.89%		1.52%	4.35%	-2.71%
Equicom SB	801,463,255.03	505,169,694.78	158.65%		709,243,685.28	525,023,077.34	135.09%		-92,219,569.75	19,853,382.56	-23.56%		-11.51%	3.93%	-14.85%
Malayan Bank Savings & Mortgage Bank	1,407,474,426.81	1,075,379,215.98	130.88%		1,433,822,787.59	1,116,345,777.45	128.44%		26,348,360.78	40,966,561.47	-2.44%		1.87%	3.81%	-1.87%
Luzon Development Bank	550,869,696.74	444,071,923.87	124.05%		597,160,536.04	467,297,773.57	127.79%		46,290,839.30	23,225,849.70	3.74%		8.40%	5.23%	3.02%
Philippine Resources Savings Banking Corporation	2,520,580,635.97	1,212,811,159.39	207.83%		1,547,535,074.86	1,262,243,674.14	122.60%		-973,045,561.11	49,432,514.75	-85.23%		-38.60%	4.08%	-41.01%
Silangan Savings and Loan Bank, Inc.	NA	NA	NA		57,469,598.94	51,238,430.92	112.16%		NA	NA	NA		NA	NA	NA
Philippine Postal Savings Bank	861,789,478.39	818,586,509.18	105.28%		835,793,301.74	823,962,840.17	101.44%		-25,996,176.65	5,376,330.99	-3.84%		-3.02%	0.66%	-3.65%
Dumaguete City Development Bank	252,146,106.06	206,193,126.17	122.29%		217,174,850.78	217,277,299.29	99.95%		-34,971,255.28	11,084,173.12	-22.33%		-13.87%	5.38%	-18.26%
Producers Savings Bank	571,001,212.84	642,350,700.67	88.89%		641,420,527.40	649,471,114.99	98.76%		70,419,314.56	7,120,414.32	9.87%		12.33%	1.11%	11.10%
Citibank Savings Inc.	4,132,188,920.79	4,498,629,545.94	91.85%		4,117,362,760.03	4,626,549,833.36	88.99%		-14,826,160.76	127,920,287.42	-2.86%		-0.36%	2.84%	-3.11%
Metro Cebu Public Savings Bank	60,428,625.04	82,461,425.57	73.28%		60,994,733.05	70,416,695.68	86.62%		566,108.01	-12,044,729.89	13.34%		0.94%	-14.61%	18.20%
Wealth Bank - A Development Bank	320,723,480.31	404,016,447.07	79.38%		343,240,894.02	403,307,129.12	85.11%		22,517,413.71	-709,317.95	5.72%		7.02%	-0.18%	7.21%
Philippine Savings Bank	13,601,325,210.06	16,759,739,786.84	81.15%		13,800,587,750.03	16,774,387,958.48	82.27%		199,262,539.97	14,648,171.64	1.12%		1.47%	0.09%	1.38%
Philippine Business Bank	2,468,927,091.97	3,522,480,360.07	70.09%		2,791,810,111.72	3,623,685,633.83	77.04%		322,883,019.75	101,205,273.76	6.95%		13.08%	2.87%	9.92%
Security Bank Savings Corporation	1,307,625,402.15	1,427,802,395.52	91.58%		1,019,815,517.03	1,336,949,287.29	76.28%		-287,809,885.12	-90,853,108.23	-15.30%		-22.01%	-6.36%	-16.71%
BPI Family Savings Bank	12,108,718,892.33	17,032,382,062.40	71.09%		10,962,657,294.50	15,631,116,655.46	70.13%		-1,146,061,597.83	-1,401,265,406.94	-0.96%		-9.46%	-8.23%	-1.35%
Pampanga Development Bank	83,151,645.70	126,202,725.13	65.89%		83,899,881.42	123,549,419.19	67.91%		748,235.72	-2,653,305.94	2.02%		0.90%	-2.10%	3.07%
Sterling Bank of Asia Inc.	1,340,490,929.25	1,841,699,407.90	72.79%		1,340,942,173.03	1,982,948,594.02	67.62%		451,243.78	141,249,186.12	-5.16%		0.03%	7.67%	-7.09%
Microfinance Maximum SB (Maxbank)	28,970,906.57	62,286,572.17	46.51%		39,287,283.56	62,219,777.23	63.14%		10,316,376.99	-66,794.94	16.63%		35.61%	-0.11%	35.76%
Cordillera Savings Bank	70,184,283.70	123,858,192.76	56.67%		72,238,424.04	114,999,722.22	62.82%		2,054,140.34	-8,858,470.54	6.15%		2.93%	-7.15%	10.86%
Sampaguita SLA	37,761,063.58	73,481,194.82	51.39%		46,004,304.84	73,473,403.35	62.61%		8,243,241.26	-7,791.47	11.22%		21.83%	-0.01%	21.84%
Penbank, Inc.	215,732,452.02	254,791,038.35	84.67%		177,743,232.25	286,750,207.57	61.99%		-37,989,219.77	31,959,169.22	-22.68%		-17.61%	12.54%	-26.79%
United Overseas Bank Philippines	933,928,979.82	1,448,098,996.81	64.49%		890,516,409.74	1,447,803,997.42	61.51%		-43,412,570.08	-294,999.39	-2.99%		-4.65%	-0.02%	-4.63%
Tong Yang Savings Bank Inc.	294,036,660.28	445,066,651.62	66.07%		273,697,947.26	447,930,833.59	61.10%		-20,338,713.02	2,864,181.97	-4.96%		-6.92%	0.64%	-7.51%
Northpoint Development Bank	28,911,591.89	56,103,745.64	51.53%		33,717,155.21	56,343,745.64	59.84%		4,805,563.32	240,000.00	8.31%		16.62%	0.43%	16.12%
Life Savings Bank	39,251,089.09	66,138,275.39	59.35%		39,197,897.11	65,556,807.08	59.79%		-53,191.98	-581,468.31	0.45%		-0.14%	-0.88%	0.75%
World Partners Bank (A Thrift Bank)	109,319,030.79	170,966,160.68	63.94%		103,819,208.71	181,088,626.37	57.33%		-5,499,822.08	10,122,465.69	-6.61%		-5.03%	5.92%	-10.34%
Merchants Savings & Loan Association Inc.	72,283,885.91	669,331,235.75	10.80%		382,320,155.01	669,746,853.07	57.08%		310,036,269.10	415,617.32	46.28%		428.91%	0.06%	428.59%
Pridestar Development Bank	42,219,537.59	71,093,548.88	59.39%		40,634,573.53	71,792,073.12	56.60%		-1,584,964.06	698,524.24	-2.79%		-3.75%	0.98%	-4.69%
First Consolidated Bank	1,040,606,604.46	1,856,880,353.48	56.04%		930,476,260.60	1,918,465,411.34	48.50%		-110,130,343.86	61,585,057.86	-7.54%		-10.58%	3.32%	-13.45%
UCPB Savings Bank	1,030,048,650.10	2,203,418,599.36	46.75%		1,043,287,518.62	2,223,751,763.04	46.92%		13,238,868.52	20,333,163.68	0.17%		1.29%	0.92%	0.36%
Lemery Savings & Loan Bank, Inc.	33,750,897.82	70,929,116.35	47.58%		33,001,621.19	71,454,318.24	46.19%		-749,276.63	525,201.89	-1.40%		-2.22%	0.74%	-2.94%
Quezon Coconut Producers SLB Inc.	28,611,592.80	57,268,623.22	49.96%		26,069,391.63	58,522,203.39	44.55%		-2,542,201.17	1,253,580.17	-5.41%		-8.89%	2.19%	-10.84%
Tower Development Bank	58,084,767.24	112,678,828.58	51.55%		46,810,509.98	118,433,563.41	39.52%		-11,274,257.26	5,754,734.83	-12.02%		-19.41%	5.11%	-23.33%
Bank One Savings and Trust Corp.	56,734,307.10	523,963,118.72	10.83%		205,643,521.84	522,793,794.10	39.34%		148,909,214.74	-1,169,324.62	28.51%		262.47%	-0.22%	263.28%
Allied Savings Bank	417,741,191.77	1,010,574,472.46	41.34%		397,328,530.82	1,015,746,565.62	39.12%		-20,412,660.95	5,172,093.16	-2.22%		-4.89%	0.51%	-5.37%
Maritime SLA	22,437,333.91	68,833,229.22	32.60%		26,345,059.98	68,811,839.22	38.29%		3,907,726.07	-21,390.00	5.69%		17.42%	-0.03%	17.45%
CityState Savings Bank	278,638,718.52	814,736,342.62	34.20%		302,018,405.44	806,533,911.73	37.45%		23,379,686.92	-8,202,430.89	3.25%		8.39%	-1.01%	9.49%
Malasiqui Progressive SLB, Inc.	19,781,785.50	55,048,215.23	35.94%		17,286,296.20	57,540,947.14	30.04%		-2,495,489.30	2,492,731.91	-5.89%		-12.62%	4.53%	-16.40%
BPI Direct Savings Bank	192,765,341.89	842,173,596.94	22.89%		228,359,957.42	860,291,802.94	26.54%		35,594,615.53	18,118,206.00	3.66%		18.47%	2.15%	15.97%
BPI Globe Banko Inc. Savings Bank	115,638,821.68	524,444,707.32	22.05%		129,529,499.04	524,801,276.58	24.68%		13,890,677.36	356,569.26	2.63%		12.01%	0.07%	11.94%
City Savings Bank	12,605,607,715.11	1,980,135,675.21	636.60%		462,342,601.63	1,984,462,889.20	23.30%		-12,143,265,113.48	4,327,213.99	-613.31%		-96.33%	0.22%	-96.34%
The Queen City Development Bank	148,964,053.39	691,016,996.13	21.56%		150,368,723.02	684,680,835.05	21.96%		1,404,669.63	-6,336,161.08	0.40%		0.94%	-0.92%	1.88%
Pacific Ace Savings Bank	11,952,763.66	76,675,258.62	15.59%		15,724,475.41	76,042,652.60	20.68%		3,771,711.75	-632,606.02	5.09%		31.56%	-0.83%	32.65%
Dungganon Bank	8,625,732.80	64,443,329.59	13.38%		10,370,144.01	64,889,259.48	15.98%		1,744,411.21	445,929.89	2.60%		20.22%	0.69%	19.40%
Optimum Development Bank	110,314,399.99	687,108,808.57	16.05%		103,834,979.41	686,049,339.39	15.14%		-6,479,420.58	-1,059,469.18	-0.92%		-5.87%	-0.15%	-5.73%
Bataan SLA	10,355,017.82	78,699,471.64	13.16%		11,145,691.52	78,391,671.64	14.22%		790,673.70	-307,800.00	1.06%		7.64%	-0.39%	8.06%
Card SME Bank Inc. (A Thrift Bank)	35,612,569.77	150,765,995.91	23.62%		19,959,946.63	189,500,499.98	10.53%		-15,652,623.14	38,734,504.07	-13.09%		-43.95%	25.69%	-55.41%
HSBC Savings Bank (Phils) Inc.	274,773,025.74	2,888,194,472.00	9.51%		276,219,723.50	2,874,799,696.12	9.61%		1,446,697.76	-13,394,775.88	0.09%		0.53%	-0.46%	0.99%
Isla Bank (A Thrift Bank) Inc.	54,788,316.84	631,893,880.25	8.67%		55,911,177.51	631,893,880.25	8.85%		1,122,860.67	0.00	0.18%		2.05%	0.00%	2.05%
Sun Savings Bank	6,258,125.99	76,867,112.54	8.14%		6,621,560.84	76,888,654.99	8.61%		363,434.85	21,542.45	0.47%		5.81%	0.03%	5.78%
Progress SLA	6,718,147.53	84,802,928.79	7.92%		6,559,401.09	84,796,580.47	7.74%		-158,746.44	-6,348.32	-0.19%		-2.36%	-0.01%	-2.36%
Century Savings Bank	42,961,702.12	875,210,065.34	4.91%		64,331,406.32	873,029,865.98	7.37%		21,369,704.20	-2,180,199.36	2.46%		49.74%	-0.25%	50.12%
BDO Elite Savings Bank	93,317,372.04	1,507,557,562.16	6.19%		93,347,872.51	1,507,557,562.16	6.19%		30,500.47	0.00	0.00%		0.03%	0.00%	0.03%
Liberty Savings Bank	37,518,711.95	63,701,027.16	58.90%		NA	NA	NA		NA	NA	NA		NA	NA	NA
Real Bank (A Thrift Bank) Inc.	9,290,372,249.91	825,587,293.41	1125.30%		NA	NA	NA		NA	NA	NA		NA	NA	NA
Grand Total	102,307,857,328.40	87,968,018,531.31	116.30%		78,832,546,427.93	85,463,854,692.37	92.24%		-23,475,310,900.47	-2,504,163,838.94	-24.06%		-22.95%	-2.85%	-20.69%

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' Published Statements of Condition as of March 31, 2012 and June 30, 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.