DOSRI. Short for DOSRI Loans and Transactions. Otherwise known as loans to Directors, Officers, Stockholders, and Related Interests (DOSRI). Regulators and Legislators have established laws and regulations that limit DOSRI loans. The General Banking Act and BSP regulations limit the amount of the loans granted by a bank to a single borrower to 25% of equity. The amount of individual loans to DOSRI, of which 70% must be secured, should not exceed the amount of the deposit and book value of the investment in the bank. In the aggregate, loans to DOSRI generally should not exceed the total equity or 15% of the total loan portfolio of the bank, whichever is lower.
In the Philippine Commercial Banking Industry, DOSRI Loans stood at Php 214.871 billion, or 6.59% of a Total Loan Portfolio - Net (TLP-Net) of Php 3.261 trillion as of June 30, 2012
Editor's Note: Data is culled from the Published Statements of Condition of individual commercial banks found in www.bsp.gov.ph. Banks highlighted in yellow are classified as Distressed Banks. The level of distressed is measured by the Ratio of their Total Distressed Assets/Total Capital Cushion as of June 30, 2012. See a previous blog post: "Philippine U/KBs Show Some Deterioration in the 2nd Qtr. of 2012".
| Philippine Universal and Commercial Banking System | |||
| DOSRI as % of TLP-Net | |||
| June 30, 2012 | |||
| DOSRI | TLP-Net | DOSRI/TLP-Net | |
| Bank | (In Php) | (In PHP) | (In %) |
| Development Bank of the Philippines | 37,917,488,222.01 | 132,330,130,718.88 | 28.65% |
| Land Bank of the Philippines | 68,646,469,730.17 | 249,893,860,362.24 | 27.47% |
| China Banking Corporation | 18,459,703,104.87 | 160,336,920,730.80 | 11.51% |
| Banco De Oro Unibank Inc. | 59,353,773,766.32 | 687,449,848,983.94 | 8.63% |
| Robinsons Bank Corporation | 1,092,204,794.18 | 15,901,720,790.62 | 6.87% |
| Rizal Commercial Banking Corporation | 4,774,849,864.29 | 147,566,030,748.89 | 3.24% |
| Bank of Commerce | 1,107,424,200.51 | 40,286,168,910.84 | 2.75% |
| Philippine National Bank | 3,289,296,631.39 | 130,344,611,716.69 | 2.52% |
| Metropolitan Bank & Trust Company | 8,141,482,227.33 | 356,405,295,315.46 | 2.28% |
| Allied Banking Corporation | 2,185,463,587.93 | 97,005,209,447.24 | 2.25% |
| East West Banking Corporation | 1,110,900,418.57 | 52,595,614,642.10 | 2.11% |
| Maybank Philippines Inc. | 579,226,472.33 | 27,960,133,075.29 | 2.07% |
| Bank of the Philippine Islands | 5,111,996,958.34 | 381,129,488,188.36 | 1.34% |
| Union Bank of the Philippines | 959,960,804.94 | 86,315,941,248.74 | 1.11% |
| Asia United Bank | 280,570,289.00 | 30,447,777,903.99 | 0.92% |
| HongKong & Shanghai Banking Corporation | 574,583,499.01 | 71,135,474,496.39 | 0.81% |
| Bank of America N.A. | 27,542,992.47 | 4,366,919,280.84 | 0.63% |
| Citibank N.A. | 588,421,598.88 | 127,326,018,344.68 | 0.46% |
| United Coconut Planters Bank | 273,499,739.70 | 64,560,997,791.91 | 0.42% |
| JP Morgan Chase Bank National Association | 54,865,997.90 | 21,401,181,445.24 | 0.26% |
| Philippine Bank of Communications | 19,185,960.76 | 9,373,967,066.04 | 0.20% |
| Philippine Veterans Bank | 47,571,251.34 | 24,461,896,932.69 | 0.19% |
| Chinatrust (Philippines) Commercial Banking Corporation | 20,156,646.06 | 12,626,685,303.37 | 0.16% |
| ANZ Banking Group Ltd | 39,648,428.70 | 25,012,985,590.31 | 0.16% |
| Security Bank Corporation | 186,843,553.26 | 121,418,657,430.70 | 0.15% |
| Standard Chartered Bank | 18,590,466.95 | 37,400,519,794.20 | 0.05% |
| The Bank of Tokyo - Mitsubishi UFJ Ltd | 8,860,884.92 | 23,472,630,029.70 | 0.04% |
| Korea Exchange Bank | 673,920.00 | 5,265,334,464.09 | 0.01% |
| Al Amanah Islamic Bank of the Philippines | 0.00 | 286,658,067.44 | 0.00% |
| Bangkok Bank Public Co. Ltd. | 0.00 | 3,308,082,971.50 | 0.00% |
| Bank of China Limited - Manila Branch | 0.00 | 5,022,505,240.78 | 0.00% |
| BDO Private Bank, Inc. | 0.00 | 6,045,408,925.81 | 0.00% |
| Deutsche Bank AG | 0.00 | 24,392,915,946.48 | 0.00% |
| Internationale Nederlanden Groep Bank | 0.00 | 9,623,642,231.23 | 0.00% |
| Mega International Commercial Bank Co. Ltd | 0.00 | 7,024,204,490.46 | 0.00% |
| Mizuho Corporate Bank Ltd - Manila Branch | 0.00 | 25,422,078,830.34 | 0.00% |
| Philippine Trust Company | 0.00 | 35,904,262,386.84 | 0.00% |
| Grand Total | 214,871,256,012.13 | 3,260,821,779,845.12 | 6.59% |
Source: www.bsp.gov.ph
Of the 37 banks in this list, nine banks had no DOSRI loans as of June 30, 2012. Of the 29 banks that reported DOSRI loans, the ratio of DOSRI Loans to Total Loan Portfolio - Net as of June 30, 2012 was slightly higher (6.59%) than the 6.07% ratio reported for all commercial banks as of March 31, 2012. The banks with the highest ratio of DOSRI Loans to TLP-Net were government banks:
- Development Bank of the Philippines (28.65% of TLP-Net)
- Land Bank of the Philippines (27.47% of TLP-Net)
DOSRI rules indicate that DOSRI Loans, in the aggregate, should not exceed the total equity of the bank. Therefore banks with significantly high DOSRI Loans as a percentage of Total Stockholders Equity (SE) may be approaching DOSRI Limits. In this matter, two government banks again stand out:
- Development Bank of the Philippines (96.88% of SE)
- Land Bank of the Philippines (95.30% of SE)
A third bank, Banco de Oro Unibank has DOSRI Loans equivalent to 58.23% of SE as of June 30, 2012, up significantly from 30.61% as of March 31, 2012. China Banking Corporation also had DOSRI Loans equivalent to more than 50% of SE as of June 30, 2012, up very significantly from 21.28% as of March 31, 2012. On an overall basis, DOSRI Loans comprised 28.43% of Stockholders Equity as of June 30, 2012, up from 24.01% as of March 31, 2012.
| Philippine Universal and Commercial Banking System | |||
| DOSRI as % of Stockholders Equity | |||
| June 30, 2012 | |||
| DOSRI | SE | DOSRI/SE | |
| Bank | (In Php) | (In PHP) | (In %) |
| Development Bank of the Philippines | 37,917,488,222.01 | 39,139,801,398.21 | 96.88% |
| Land Bank of the Philippines | 68,646,469,730.17 | 72,035,398,618.59 | 95.30% |
| Banco De Oro Unibank Inc. | 59,353,773,766.32 | 101,929,325,323.67 | 58.23% |
| China Banking Corporation | 18,459,703,104.87 | 36,037,127,084.48 | 51.22% |
| Robinsons Bank Corporation | 1,092,204,794.18 | 5,400,718,494.91 | 20.22% |
| Allied Banking Corporation | 2,185,463,587.93 | 18,326,663,200.68 | 11.93% |
| Rizal Commercial Banking Corporation | 4,774,849,864.29 | 40,339,304,322.02 | 11.84% |
| HongKong & Shanghai Banking Corporation | 574,583,499.01 | 5,388,712,213.20 | 10.66% |
| Maybank Philippines Inc. | 579,226,472.33 | 5,535,707,537.03 | 10.46% |
| Philippine National Bank | 3,289,296,631.39 | 37,122,489,253.60 | 8.86% |
| Metropolitan Bank & Trust Company | 8,141,482,227.33 | 106,194,109,504.71 | 7.67% |
| Citibank N.A. | 588,421,598.88 | 7,841,168,502.18 | 7.50% |
| East West Banking Corporation | 1,110,900,418.57 | 16,170,114,535.46 | 6.87% |
| Bank of Commerce | 1,107,424,200.51 | 17,557,056,210.05 | 6.31% |
| Bank of the Philippine Islands | 5,111,996,958.34 | 87,074,496,134.62 | 5.87% |
| Bank of America N.A. | 27,542,992.47 | 596,946,705.20 | 4.61% |
| JP Morgan Chase Bank National Association | 54,865,997.90 | 1,727,884,545.30 | 3.18% |
| Asia United Bank | 280,570,289.00 | 10,173,091,443.18 | 2.76% |
| Union Bank of the Philippines | 959,960,804.94 | 39,593,140,857.56 | 2.42% |
| ANZ Banking Group Ltd | 39,648,428.70 | 2,023,998,541.56 | 1.96% |
| United Coconut Planters Bank | 273,499,739.70 | 18,524,593,394.88 | 1.48% |
| The Bank of Tokyo - Mitsubishi UFJ Ltd | 8,860,884.92 | 746,456,907.95 | 1.19% |
| Standard Chartered Bank | 18,590,466.95 | 1,662,661,839.14 | 1.12% |
| Philippine Veterans Bank | 47,571,251.34 | 5,182,204,888.33 | 0.92% |
| Security Bank Corporation | 186,843,553.26 | 34,857,762,333.00 | 0.54% |
| Chinatrust (Philippines) Commercial Banking Corporation | 20,156,646.06 | 6,118,237,659.45 | 0.33% |
| Philippine Bank of Communications | 19,185,960.76 | 8,262,907,312.02 | 0.23% |
| Korea Exchange Bank | 673,920.00 | 561,460,316.56 | 0.12% |
| Al Amanah Islamic Bank of the Philippines | 0.00 | 473,003,657.24 | 0.00% |
| Bangkok Bank Public Co. Ltd. | 0.00 | 1,150,161,682.46 | 0.00% |
| Bank of China Limited - Manila Branch | 0.00 | 610,490,846.11 | 0.00% |
| BDO Private Bank, Inc. | 0.00 | 5,204,459,324.38 | 0.00% |
| Deutsche Bank AG | 0.00 | 1,617,692,819.39 | 0.00% |
| Internationale Nederlanden Groep Bank | 0.00 | 2,771,241,312.15 | 0.00% |
| Mega International Commercial Bank Co. Ltd | 0.00 | 691,445,235.15 | 0.00% |
| Mizuho Corporate Bank Ltd - Manila Branch | 0.00 | 1,275,769,667.83 | 0.00% |
| Philippine Trust Company | 0.00 | 15,758,749,258.44 | 0.00% |
| Grand Total | 214,871,256,012.13 | 755,676,552,880.69 | 28.43% |
Source: www.bsp.gov.ph
Banks often take pains to avoid DOSRI Loans from falling past due. Although bank policies often state that DOSRI Loans are made “on commercial, arm's length terms, i.e., substantially on the same terms as loans to other individuals and businesses of comparable risks” (See RCBC's Consolidated Financial Statements as of December 31, 2010), loan underwriting standards should be tighter because a past due DOSRI loan reflects badly on the bank. DOSRI Loans that fall past due are often:
- Written off as soon as possible;
- Refinanced or Restructured to become current; or are
- Technically reclassified as a general NPL (like if a loan to a former bank officer falls past due).
| Philippine Universal and Commercial Banking System | |||
| DOSRI Past Due as % of DOSRI | |||
| June 30, 2012 | |||
| DOSRI Past Due | DOSRI | DOSRI Past Due/DOSRI | |
| Bank | (In PHP) | (In PHP) | (In %) |
| Rizal Commercial Banking Corporation | 525,431,611.24 | 4,774,849,864.29 | 11.00% |
| Bank of America N.A. | 1,754,488.62 | 27,542,992.47 | 6.37% |
| Asia United Bank | 5,945,458.44 | 280,570,289.00 | 2.12% |
| United Coconut Planters Bank | 2,994,626.21 | 273,499,739.70 | 1.09% |
| Chinatrust (Philippines) Commercial Banking Corporation | 73,276.19 | 20,156,646.06 | 0.36% |
| Philippine Bank of Communications | 34,589.32 | 19,185,960.76 | 0.18% |
| Standard Chartered Bank | 24,181.73 | 18,590,466.95 | 0.13% |
| Bank of the Philippine Islands | 2,770,338.25 | 5,111,996,958.34 | 0.05% |
| Citibank N.A. | 205,789.59 | 588,421,598.88 | 0.03% |
| China Banking Corporation | 40,842.00 | 18,459,703,104.87 | 0.00% |
| Allied Banking Corporation | 0.00 | 2,185,463,587.93 | 0.00% |
| ANZ Banking Group Ltd | 0.00 | 39,648,428.70 | 0.00% |
| Banco De Oro Unibank Inc. | 0.00 | 59,353,773,766.32 | 0.00% |
| Bank of Commerce | 0.00 | 1,107,424,200.51 | 0.00% |
| Development Bank of the Philippines | 0.00 | 37,917,488,222.01 | 0.00% |
| East West Banking Corporation | 0.00 | 1,110,900,418.57 | 0.00% |
| HongKong & Shanghai Banking Corporation | 0.00 | 574,583,499.01 | 0.00% |
| JP Morgan Chase Bank National Association | 0.00 | 54,865,997.90 | 0.00% |
| Korea Exchange Bank | 0.00 | 673,920.00 | 0.00% |
| Land Bank of the Philippines | 0.00 | 68,646,469,730.17 | 0.00% |
| Maybank Philippines Inc. | 0.00 | 579,226,472.33 | 0.00% |
| Metropolitan Bank & Trust Company | 0.00 | 8,141,482,227.33 | 0.00% |
| Philippine National Bank | 0.00 | 3,289,296,631.39 | 0.00% |
| Philippine Veterans Bank | 0.00 | 47,571,251.34 | 0.00% |
| Robinsons Bank Corporation | 0.00 | 1,092,204,794.18 | 0.00% |
| Security Bank Corporation | 0.00 | 186,843,553.26 | 0.00% |
| The Bank of Tokyo - Mitsubishi UFJ Ltd | 0.00 | 8,860,884.92 | 0.00% |
| Union Bank of the Philippines | 0.00 | 959,960,804.94 | 0.00% |
| Al Amanah Islamic Bank of the Philippines | 0.00 | 0.00 | NA |
| Bangkok Bank Public Co. Ltd. | 0.00 | 0.00 | NA |
| Bank of China Limited - Manila Branch | 0.00 | 0.00 | NA |
| BDO Private Bank, Inc. | 0.00 | 0.00 | NA |
| Deutsche Bank AG | 0.00 | 0.00 | NA |
| Internationale Nederlanden Groep Bank | 0.00 | 0.00 | NA |
| Mega International Commercial Bank Co. Ltd | 0.00 | 0.00 | NA |
| Mizuho Corporate Bank Ltd - Manila Branch | 0.00 | 0.00 | NA |
| Philippine Trust Company | 0.00 | 0.00 | NA |
| Grand Total | 539,275,201.59 | 214,871,256,012.13 | 0.25% |
Source: www.bsp.gov.ph
Given all the measures banks can take to prevent a DOSRI Loan from falling past due, it is not surprising to find past due rates of DOSRI Loans significantly below the NPL ratios of their Total Loan Portfolios. What is generally surprising is to find DOSRI Loans that fall past due in significantly higher proportions than the banks NPL ratio on their Total Loan Portfolios. Only three banks fall into this category:
- Rizal Commercial Banking Corporation (DOSRI Past Due Ratio of 11% versus an NPL Ratio of 0.86%)
- Bank of America N.A. (DOSRI Past Due Ratio of 6.37% versus an NPL Ratio of 0.00%)
The NPL Ratio of the Philippine Commercial Banking System has dropped slightly to 2.21% of Total Loan Portfolio - Net as of June 30, 2012 from 2.53% as of March 31, 2012.
| Philippine Universal and Commercial Banking System | |||
| NPL as % of TLP-Net | |||
| June 30, 2012 | |||
| NPL | TLP-Net | NPL/TLP | |
| Bank | (In Php) | (In Php) | (In %) |
| Bank of Commerce | 4,127,215,374.37 | 40,286,168,910.84 | 10.24% |
| United Coconut Planters Bank | 4,550,757,595.97 | 64,560,997,791.91 | 7.05% |
| Philippine National Bank | 6,580,772,204.25 | 130,344,611,716.69 | 5.05% |
| East West Banking Corporation | 2,434,617,349.22 | 52,595,614,642.10 | 4.63% |
| Philippine Veterans Bank | 1,118,165,728.45 | 24,461,896,932.69 | 4.57% |
| Union Bank of the Philippines | 3,321,506,763.28 | 86,315,941,248.74 | 3.85% |
| Allied Banking Corporation | 3,620,865,825.68 | 97,005,209,447.24 | 3.73% |
| Development Bank of the Philippines | 4,891,977,135.48 | 132,330,130,718.88 | 3.70% |
| Philippine Trust Company | 1,187,297,173.28 | 35,904,262,386.84 | 3.31% |
| Land Bank of the Philippines | 8,082,570,361.75 | 249,893,860,362.24 | 3.23% |
| Standard Chartered Bank | 1,148,204,008.28 | 37,400,519,794.20 | 3.07% |
| Maybank Philippines Inc. | 841,828,527.97 | 27,960,133,075.29 | 3.01% |
| Chinatrust (Philippines) Commercial Banking Corporation | 373,752,807.11 | 12,626,685,303.37 | 2.96% |
| Robinsons Bank Corporation | 463,679,512.21 | 15,901,720,790.62 | 2.92% |
| China Banking Corporation | 4,182,883,177.08 | 160,336,920,730.80 | 2.61% |
| Asia United Bank | 737,542,513.43 | 30,447,777,903.99 | 2.42% |
| Banco De Oro Unibank Inc. | 11,005,621,686.35 | 687,449,848,983.94 | 1.60% |
| Metropolitan Bank & Trust Company | 4,899,855,939.33 | 356,405,295,315.46 | 1.37% |
| Bank of the Philippine Islands | 4,527,776,844.83 | 381,129,488,188.36 | 1.19% |
| Philippine Bank of Communications | 110,498,322.40 | 9,373,967,066.04 | 1.18% |
| HongKong & Shanghai Banking Corporation | 815,276,281.02 | 71,135,474,496.39 | 1.15% |
| Rizal Commercial Banking Corporation | 1,267,514,279.70 | 147,566,030,748.89 | 0.86% |
| Security Bank Corporation | 854,299,182.91 | 121,418,657,430.70 | 0.70% |
| Citibank N.A. | 882,189,033.18 | 127,326,018,344.68 | 0.69% |
| Korea Exchange Bank | 36,302,160.89 | 5,265,334,464.09 | 0.69% |
| Al Amanah Islamic Bank of the Philippines | 1,232,146.27 | 286,658,067.44 | 0.43% |
| Bangkok Bank Public Co. Ltd. | 5,804,155.55 | 3,308,082,971.50 | 0.18% |
| Bank of China Limited - Manila Branch | 8,660,895.91 | 5,022,505,240.78 | 0.17% |
| ANZ Banking Group Ltd | 23,339,114.85 | 25,012,985,590.31 | 0.09% |
| The Bank of Tokyo - Mitsubishi UFJ Ltd | 125,938.80 | 23,472,630,029.70 | 0.00% |
| Internationale Nederlanden Groep Bank | 86.24 | 9,623,642,231.23 | 0.00% |
| Bank of America N.A. | 0.00 | 4,366,919,280.84 | 0.00% |
| BDO Private Bank, Inc. | 0.00 | 6,045,408,925.81 | 0.00% |
| Deutsche Bank AG | 0.00 | 24,392,915,946.48 | 0.00% |
| JP Morgan Chase Bank National Association | 0.00 | 21,401,181,445.24 | 0.00% |
| Mega International Commercial Bank Co. Ltd | 0.00 | 7,024,204,490.46 | 0.00% |
| Mizuho Corporate Bank Ltd - Manila Branch | 0.00 | 25,422,078,830.34 | 0.00% |
| Grand Total | 72,102,132,126.04 | 3,260,821,779,845.12 | 2.21% |
Source: www.bsp.gov.ph
However, one bank has a significantly high NPL as a percentage of its stockholders equity as of June 30, 2012. This bank is Standard Chartered Bank (NPL/SE Ratio of 69.06%).
Other banks with NPLs that are more than 20% of their stockholders equity are:
- United Coconut Planters Bank (NPL/SE Ratio of 24.57%)
- Bank of Commerce (NPL/SE Ratio of 23.51% of SE)
- Philippine Veterans Bank (NPL/SE Ratio of 21.58% of SE)
Again, any further deterioration in the value of these banks NPLs may lead to a significant reduction of the bank's capital, particularly if the bank has not adequately reserved capital for future losses on these NPLs. But of the four banks listed above, three banks are listed as distressed:
- United Coconut Planters Bank
- Bank of Commerce
- Philippine Veterans Bank
See a previous blog post: "Philippine U/KBs Show Some Deterioration in the 2nd Qtr. of 2012".
| Philippine Universal and Commercial Banking System | |||
| NPL as % of SE | |||
| June 30, 2012 | |||
| NPL | SE | NPL/SE | |
| Bank | (In PHP) | (In PHP) | (In %) |
| Standard Chartered Bank | 1,148,204,008.28 | 1,662,661,839.14 | 69.06% |
| United Coconut Planters Bank | 4,550,757,595.97 | 18,524,593,394.88 | 24.57% |
| Bank of Commerce | 4,127,215,374.37 | 17,557,056,210.05 | 23.51% |
| Philippine Veterans Bank | 1,118,165,728.45 | 5,182,204,888.33 | 21.58% |
| Allied Banking Corporation | 3,620,865,825.68 | 18,326,663,200.68 | 19.76% |
| Philippine National Bank | 6,580,772,204.25 | 37,122,489,253.60 | 17.73% |
| Maybank Philippines Inc. | 841,828,527.97 | 5,535,707,537.03 | 15.21% |
| HongKong & Shanghai Banking Corporation | 815,276,281.02 | 5,388,712,213.20 | 15.13% |
| East West Banking Corporation | 2,434,617,349.22 | 16,170,114,535.46 | 15.06% |
| Development Bank of the Philippines | 4,891,977,135.48 | 39,139,801,398.21 | 12.50% |
| China Banking Corporation | 4,182,883,177.08 | 36,037,127,084.48 | 11.61% |
| Citibank N.A. | 882,189,033.18 | 7,841,168,502.18 | 11.25% |
| Land Bank of the Philippines | 8,082,570,361.75 | 72,035,398,618.59 | 11.22% |
| Banco De Oro Unibank Inc. | 11,005,621,686.35 | 101,929,325,323.67 | 10.80% |
| Robinsons Bank Corporation | 463,679,512.21 | 5,400,718,494.91 | 8.59% |
| Union Bank of the Philippines | 3,321,506,763.28 | 39,593,140,857.56 | 8.39% |
| Philippine Trust Company | 1,187,297,173.28 | 15,758,749,258.44 | 7.53% |
| Asia United Bank | 737,542,513.43 | 10,173,091,443.18 | 7.25% |
| Korea Exchange Bank | 36,302,160.89 | 561,460,316.56 | 6.47% |
| Chinatrust (Philippines) Commercial Banking Corporation | 373,752,807.11 | 6,118,237,659.45 | 6.11% |
| Bank of the Philippine Islands | 4,527,776,844.83 | 87,074,496,134.62 | 5.20% |
| Metropolitan Bank & Trust Company | 4,899,855,939.33 | 106,194,109,504.71 | 4.61% |
| Rizal Commercial Banking Corporation | 1,267,514,279.70 | 40,339,304,322.02 | 3.14% |
| Security Bank Corporation | 854,299,182.91 | 34,857,762,333.00 | 2.45% |
| Bank of China Limited - Manila Branch | 8,660,895.91 | 610,490,846.11 | 1.42% |
| Philippine Bank of Communications | 110,498,322.40 | 8,262,907,312.02 | 1.34% |
| ANZ Banking Group Ltd | 23,339,114.85 | 2,023,998,541.56 | 1.15% |
| Bangkok Bank Public Co. Ltd. | 5,804,155.55 | 1,150,161,682.46 | 0.50% |
| Al Amanah Islamic Bank of the Philippines | 1,232,146.27 | 473,003,657.24 | 0.26% |
| The Bank of Tokyo - Mitsubishi UFJ Ltd | 125,938.80 | 746,456,907.95 | 0.02% |
| Internationale Nederlanden Groep Bank | 86.24 | 2,771,241,312.15 | 0.00% |
| Bank of America N.A. | 0.00 | 596,946,705.20 | 0.00% |
| BDO Private Bank, Inc. | 0.00 | 5,204,459,324.38 | 0.00% |
| Deutsche Bank AG | 0.00 | 1,617,692,819.39 | 0.00% |
| JP Morgan Chase Bank National Association | 0.00 | 1,727,884,545.30 | 0.00% |
| Mega International Commercial Bank Co. Ltd | 0.00 | 691,445,235.15 | 0.00% |
| Mizuho Corporate Bank Ltd - Manila Branch | 0.00 | 1,275,769,667.83 | 0.00% |
| Grand Total | 72,102,132,126.04 | 755,676,552,880.69 | 9.54% |
Source: www.bsp.gov.ph
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