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Tuesday, November 5, 2013

A Simple Stress Test of Philippine Banks as of March 31, 2013

Editor's Note: This is an updated version of two earlier blog posts entitled: "A Simple Stress Test of Philippine Commercial Banks as of December 31, 2012" and "A Simple Stress Test of Philippine Thrift Banks as of December 31, 2012".

 Editor's Note: For the purposes of this article, Philippine Banks or the Philippine Banking System refers to the Philippine Commercial and Universal Banking System and the Philippine Thrift Banking System.  We are ignoring the Philippine Rural and Cooperative Banking System whose asset base is tiny in comparison to the whole banking system (Php 192.551 billion or 2.37% of the Php 8,119.448 billion in assets held in the Philippine Banking System as of March 31, 2013).


In an April 9, 2012 article entitled "Stress Test Proves Strength of PH Banks", "Philippine banks are seen to survive a disaster in which the various lenders are forced to write off loans as large as PhP 36 billion without asking shareholders, the central bank, or the national government for bailout money."  This assertion stems from a recent stress test conducted by the Bangko Sentral ng Pilipinas (BSP) on all 55 regular and commercial and expanded license banks.

For Philippine Banks, these NPLs currently comprise PhP 123.143 billion or 11.76% of the PhP 1.047 trillion in Stockholders Equity (SE) as of March 31, 2013.  So, writing off 50% of the Philippine Banks NPLs would reduce their aggregate stockholders equity by a little less than 6%.

Naturally, some banks would be more affected than others.  (Weak banks are highlighted in yellow.  For more information regarding this, please read "The Top Distressed Philippine Banks as of March 31, 2013").

The stockholder's equity of two banks, Silangan Savings and Loan Bank, Inc. and Citibank Savings, Inc.,  would be almost completely wiped out. Citibank Savings Inc. is the local subsidiary of a foreign bank and, as such, has little or no capital.  In a crisis, it would rely on its "home-host" arrangement wherein the mother ship (the foreign parent) sends more funds and/or capital when local regulators or counterparties require it.  Seven other banks, namely, Village SLA, Inc. (79.52% decline in SE), Opportunity Kauswagan Bank, Inc. (62.45% decline in SE), United Overseas Bank Philippines (47.65% decline in SE), The Palawan Bank (47.03% decline in SE), Planters Development Bank (39.44% decline in SE), Bataan Development Bank (38.49% decline in SE), Philippine Postal Savings Bank (31.88% decline in SE), would be severely affected.


Philippine Banking System
NPL as % of SE
March 31, 2013









NPL SE NPL/SE
Bank (In PHP) (In PHP) (In %)
Silangan Savings and Loan Bank, Inc. 19,671,049.99 10,391,308.19 189.30%
Citibank Savings Inc. 2,582,409,401.88 1,472,870,648.62 175.33%
Village SLA, Inc. 25,659,354.68 16,134,714.28 159.03%
Opportunity Kauswagan Bank, Inc. 76,591,260.61 61,323,344.55 124.90%
United Overseas Bank Philippines 669,199,636.35 702,252,001.37 95.29%
The Palawan Bank 15,467,103.88 16,444,109.52 94.06%
Planters Development Bank 3,072,249,879.11 3,894,550,868.90 78.89%
Bataan Development Bank 48,944,063.79 63,580,789.69 76.98%
Philippine Postal Savings Bank 484,550,891.29 759,927,280.94 63.76%
Standard Chartered Bank 1,144,762,620.59 2,050,871,175.77 55.82%
Security Bank Savings Corporation 617,312,582.61 1,123,967,139.31 54.92%
Comsavings Bank 206,207,435.20 382,581,265.01 53.90%
Enterprise Bank Inc. 101,407,539.68 195,255,759.76 51.94%
Iloilo City Development Bank 34,871,302.17 70,911,147.62 49.18%
Sterling Bank of Asia Inc. 1,067,092,272.87 2,308,153,826.27 46.23%
Luzon Development Bank 185,391,103.62 434,085,634.37 42.71%
Sampaguita SLA 22,445,192.56 53,013,204.79 42.34%
Wealth Bank - A Development Bank 155,007,342.60 393,951,279.14 39.35%
Allied Savings Bank 381,815,184.79 997,482,772.75 38.28%
World Partners Bank (A Thrift Bank) 56,209,010.88 156,960,687.78 35.81%
Philippine Resources Savings Banking Corporation 445,973,321.49 1,370,795,921.72 32.53%
Pampanga Development Bank 35,205,062.27 112,503,628.25 31.29%
Malasiqui Progressive SLB, Inc. 16,401,428.95 52,663,015.28 31.14%
Malayan Bank Savings & Mortgage Bank 325,643,706.53 1,056,259,592.22 30.83%
Penbank, Inc. 81,182,208.22 271,010,894.61 29.96%
Tong Yang Savings Bank Inc. 109,820,855.14 392,789,225.10 27.96%
University Savings Bank 55,372,853.41 206,998,198.47 26.75%
Maritime SLA 16,914,321.10 65,560,548.63 25.80%
Equicom SB 115,263,744.92 459,838,990.18 25.07%
United Coconut Planters Bank 5,418,731,461.34 21,725,109,221.46 24.94%
RCBC Savings Bank 1,903,321,080.36 7,815,557,867.68 24.35%
Farmers Savings & Loan Bank 24,608,039.65 101,626,945.31 24.21%
Philippine Savings Bank 4,226,876,186.15 17,631,397,452.60 23.97%
BPI Family Savings Bank 4,125,879,733.63 17,306,461,368.33 23.84%
Hiyas Savings & Loan Bank 36,676,387.24 157,773,949.33 23.25%
Lemery Savings & Loan Bank, Inc. 15,073,450.87 66,176,078.88 22.78%
BPI Direct Savings Bank 174,526,663.29 803,918,092.43 21.71%
Business & Consumers Bank 16,909,638.23 77,927,239.65 21.70%
Bank of Commerce 4,132,117,770.09 19,197,827,867.71 21.52%
Dungganon Bank 13,531,254.95 64,479,298.55 20.99%
Union Bank of the Philippines 10,021,970,612.36 48,228,662,513.03 20.78%
East West Banking Corporation 3,452,105,848.56 17,858,284,000.87 19.33%
First Consolidated Bank 369,169,020.56 1,939,239,317.62 19.04%
Producers Savings Bank 205,208,650.59 1,087,630,484.52 18.87%
Philippine Bank of Communications 1,300,909,578.87 7,109,040,036.29 18.30%
Cordillera Savings Bank 17,567,254.20 97,373,694.03 18.04%
HongKong & Shanghai Banking Corporation 756,520,291.29 4,781,045,440.48 15.82%
Philippine Veterans Bank 1,277,353,913.18 9,096,313,444.16 14.04%
BPI Globe Banko Inc. Savings Bank 69,907,056.66 499,613,168.62 13.99%
Philippine National Bank 10,699,349,926.21 80,105,100,648.55 13.36%
Development Bank of the Philippines 5,397,014,664.74 42,929,191,158.40 12.57%
Asia United Bank Corporation 1,477,115,456.05 11,906,072,196.42 12.41%
Banco De Oro Unibank 21,483,519,007.09 173,866,230,648.58 12.36%
Pridestar Development Bank 8,464,216.23 69,963,653.77 12.10%
Citibank N.A. 894,521,167.50 7,664,105,443.06 11.67%
Dumaguete City Development Bank 27,282,762.41 233,849,354.48 11.67%
China Banking Corporation 4,824,401,314.13 43,001,565,849.86 11.22%
Robinsons Bank Corporation 676,510,259.51 6,151,937,855.15 11.00%
Quezon Coconut Producers SLB Inc. 6,052,627.60 58,040,408.94 10.43%
Land Bank of the Philippines 8,730,969,434.67 91,259,545,903.56 9.57%
Pacific Ace Savings Bank 7,078,580.74 74,386,714.64 9.52%
Metro Cebu Public Savings Bank 6,624,623.46 70,198,454.65 9.44%
UCPB Savings Bank 219,587,052.61 2,412,138,206.81 9.10%
Maybank Philippines Inc. 913,055,368.13 10,182,436,458.59 8.97%
Century Savings Bank 80,379,583.03 901,370,505.91 8.92%
China Bank Savings 107,827,016.51 1,336,209,020.05 8.07%
Life Savings Bank 5,199,792.75 64,608,956.87 8.05%
Philippine Business Bank 581,652,363.51 7,978,879,476.66 7.29%
Rizal Commercial Banking Corporation 3,449,440,469.94 47,643,616,278.44 7.24%
Card SME Bank Inc. (A Thrift Bank) 14,679,663.30 207,351,272.15 7.08%
Bank of the Philippine Islands 7,032,452,845.12 100,230,894,475.56 7.02%
City Savings Bank 170,052,316.64 2,472,118,775.49 6.88%
The Queen City Development Bank 37,266,323.29 667,259,864.54 5.58%
Philippine Trust Company 1,178,187,927.53 22,248,019,776.86 5.30%
Chinatrust (Philippines) Commercial Banking Corporation 311,170,716.63 6,473,083,695.37 4.81%
Korea Exchange Bank 24,799,819.20 543,771,939.45 4.56%
Sun Savings Bank 5,123,997.18 115,048,743.38 4.45%
Northpoint Development Bank 3,157,575.23 72,537,441.93 4.35%
Bank One Savings and Trust Corp. 20,832,453.89 530,389,484.18 3.93%
CityState Savings Bank 30,021,381.87 795,043,341.21 3.78%
HSBC Savings Bank (Phils) Inc. 102,383,683.94 2,748,084,259.69 3.73%
Tower Development Bank 4,160,915.95 114,617,272.75 3.63%
Metropolitan Bank & Trust Company 4,088,237,670.97 122,188,510,670.78 3.35%
Bataan SLA 2,474,043.37 75,118,952.34 3.29%
Microfinance Maximum SB (Maxbank) 1,899,696.25 66,733,990.88 2.85%
Optimum Development Bank 18,274,821.84 728,125,103.12 2.51%
Security Bank Corporation 730,721,150.39 38,065,480,632.77 1.92%
Progress SLA 1,301,818.45 83,299,483.73 1.56%
Bank of China Limited - Manila Branch 8,660,895.91 672,028,344.23 1.29%
ANZ Banking Group Ltd 23,339,114.85 2,676,259,564.58 0.87%
Bangkok Bank Public Co. Ltd 5,234,155.55 1,145,898,151.12 0.46%
Merchants Savings & Loan Association Inc. 2,210,767.48 535,527,047.95 0.41%
Al-Amanah Islamic Bank of the Philippines 1,156,048.97 431,547,413.87 0.27%
JP Morgan Chase National Bank Association 734,885.22 2,421,333,323.53 0.03%
Internationale Nederlanden Groep BK 83.60 2,795,170,643.11 0.00%
Bank of America N.A. 4.00 596,946,705.20 0.00%
BDO Elite Savings Bank 0.00 1,587,605,708.24 0.00%
BDO Private Bank, Inc. 0.00 6,022,759,830.20 0.00%
Deutsche Bank AG 0.00 2,247,713,611.93 0.00%
Isla Bank (A Thrift Bank) Inc. 0.00 637,164,919.99 0.00%
Mega International Commercial Bank Company Limited 0.00 649,152,544.54 0.00%
Mizuho Corporate Bank Ltd. - Manila Branch 0.00 1,272,915,083.49 0.00%
The Bank of Tokyo - Mitsubishi UFJ Ltd 0.00 1,925,492,931.38 0.00%
Allied Banking Corporation NA NA NA
Inter-Asia Development Bank NA NA NA
Legazpi Savings Bank Inc. NA NA NA
The Real Bank (A Thrift Bank) Inc. NA NA NA
Grand Total 123,142,586,086.69 1,046,751,038,647.57 11.76%


Source: www.bsp.gov.ph



Are NPLs the Right Numbers to Look At?

In a financial crisis, a loan that is current can very well become past due, and a past due loan can become a non-performing loan, and a non-performing loan can become a loan write-off.  The real number to look at are the loans that the banks and BSP already consider doubtful: Classified Loans.

Investopedia.com defines "Classified Loans" as:

"Any bank loan that is in danger of default. Classified loans have unpaid interest and principal outstanding, and it is unclear whether the bank will be able to recoup the loan proceeds from the borrower. Banks usually categorize such loans as adversely classified assets on their books."

The US Federal Deposit Insurance Corporation (FDIC), similar to our very own Philippine Deposit Insurance Corporation (PDIC), defines Classified Loans as:

"Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future."
In Circular #0247 dated May 19, 2000, BSP defines Classified Loans as loans which possess the following characteristics:
  1. Loans especially mentioned because they have potential weaknesses that deserve Management's close attention;
  2. Substandard Loans are loans which appear to involve a substantial and unreasonable degree of risk to the institution because of unfavorable record or unsatisfactory characteristics;
  3. Doubtful Loans are Substandard Loans with the added characteristics that existing facts, conditions, and values make collection or liquidation in full highly improbable and in which substantial loss is probable;
  4. Loss are loans that are considered uncollectible or worthless and are of such little value that their continuance as bankable assets is not warranted although the loans may have some recovery or salvage value.
The circular mandates that an allowance for probable losses should be set up in accordance with the following schedule:
  1. Loans Especially Mentioned: 5%
  2. Substandard - Secured: 6% - 25%
  3. Substandard - Unsecured: 25%
  4. Doubtful: 50%
  5. Loss: 100%
 As of March 31, 2013, "Classified Loans and Other Risky Assets" of the Philippine Banks amounted to PhP 369.729 billion or 3 times the size of the Philippine Banking System's NPLs of PhP 123.143 billion for the same period.  Consequently, any write-offs of Classified Loans will have three times the impact of an NPL write-off.



Philippine Banking System
Classified Loans vs. NPLs
March 31, 2013





Classified Loans NPLs Classified Loans/NPLs
Bank (In Php) (In Php) (In %)
Internationale Nederlanden Groep BK 460,783,734.92 83.60 551176716.41%
Bank of America N.A. 5,534,000.00 4.00 138350000.00%
Bank of China Limited - Manila Branch 6,197,517,530.06 8,660,895.91 71557.46%
Al-Amanah Islamic Bank of the Philippines 72,205,000.00 1,156,048.97 6245.84%
Citibank N.A. 25,406,180,000.00 894,521,167.50 2840.20%
Korea Exchange Bank 528,097,204.79 24,799,819.20 2129.44%
Village SLA, Inc. 462,746,435.43 25,659,354.68 1803.42%
China Bank Savings 1,463,467,294.71 107,827,016.51 1357.24%
Bank One Savings and Trust Corp. 205,731,149.94 20,832,453.89 987.55%
Iloilo City Development Bank 296,570,738.70 34,871,302.17 850.47%
Security Bank Corporation 5,766,000,000.00 730,721,150.39 789.08%
University Savings Bank 383,909,077.37 55,372,853.41 693.32%
United Coconut Planters Bank 36,866,000,000.00 5,418,731,461.34 680.34%
UCPB Savings Bank 1,473,854,107.38 219,587,052.61 671.19%
Comsavings Bank 1,275,879,789.57 206,207,435.20 618.74%
Dumaguete City Development Bank 165,608,000.00 27,282,762.41 607.01%
Bank of Commerce 24,857,960,000.00 4,132,117,770.09 601.58%
Business & Consumers Bank 98,520,154.06 16,909,638.23 582.63%
Tower Development Bank 22,551,426.55 4,160,915.95 541.98%
Metropolitan Bank & Trust Company 21,513,055,307.80 4,088,237,670.97 526.22%
Farmers Savings & Loan Bank 120,576,710.07 24,608,039.65 489.99%
RCBC Savings Bank 8,915,418,143.00 1,903,321,080.36 468.41%
Pridestar Development Bank 37,322,257.03 8,464,216.23 440.94%
BPI Globe Banko Inc. Savings Bank 295,115,390.05 69,907,056.66 422.15%
Philippine National Bank 41,856,145,693.94 10,699,349,926.21 391.20%
Asia United Bank Corporation 5,267,382,287.21 1,477,115,456.05 356.60%
Maritime SLA 58,982,246.01 16,914,321.10 348.71%
CityState Savings Bank 102,034,721.36 30,021,381.87 339.87%
Life Savings Bank 16,787,454.81 5,199,792.75 322.85%
Metro Cebu Public Savings Bank 21,254,853.83 6,624,623.46 320.85%
Quezon Coconut Producers SLB Inc. 19,020,776.28 6,052,627.60 314.26%
Philippine Veterans Bank 4,006,204,707.08 1,277,353,913.18 313.63%
Philippine Trust Company 3,614,862,101.13 1,178,187,927.53 306.82%
Rizal Commercial Banking Corporation 10,271,575,646.34 3,449,440,469.94 297.78%
Tong Yang Savings Bank Inc. 326,433,293.48 109,820,855.14 297.24%
Equicom SB 337,933,869.97 115,263,744.92 293.18%
Malayan Bank Savings & Mortgage Bank 949,509,703.77 325,643,706.53 291.58%
Bank of the Philippine Islands 19,855,827,842.69 7,032,452,845.12 282.35%
Cordillera Savings Bank 48,677,759.26 17,567,254.20 277.09%
Philippine Savings Bank 11,566,426,975.29 4,226,876,186.15 273.64%
Philippine Resources Savings Banking Corporation 1,215,514,595.06 445,973,321.49 272.55%
Progress SLA 3,531,277.85 1,301,818.45 271.26%
Optimum Development Bank 43,396,778.20 18,274,821.84 237.47%
Security Bank Savings Corporation 1,456,971,868.99 617,312,582.61 236.02%
Land Bank of the Philippines 20,136,051,258.65 8,730,969,434.67 230.63%
Union Bank of the Philippines 22,504,332,526.88 10,021,970,612.36 224.55%
China Banking Corporation 10,662,565,756.49 4,824,401,314.13 221.01%
HSBC Savings Bank (Phils) Inc. 219,099,781.98 102,383,683.94 214.00%
Bataan Development Bank 102,400,000.00 48,944,063.79 209.22%
Philippine Business Bank 1,184,818,220.39 581,652,363.51 203.70%
First Consolidated Bank 743,187,008.74 369,169,020.56 201.31%
Robinsons Bank Corporation 1,355,020,000.00 676,510,259.51 200.30%
The Queen City Development Bank 71,039,980.76 37,266,323.29 190.63%
BPI Family Savings Bank 7,544,685,972.57 4,125,879,733.63 182.86%
Development Bank of the Philippines 9,673,382,790.39 5,397,014,664.74 179.24%
Maybank Philippines Inc. 1,632,947,915.50 913,055,368.13 178.84%
Penbank, Inc. 143,930,164.98 81,182,208.22 177.29%
East West Banking Corporation 5,919,925,900.00 3,452,105,848.56 171.49%
Producers Savings Bank 332,547,201.62 205,208,650.59 162.05%
Banco De Oro Unibank 33,784,719,907.61 21,483,519,007.09 157.26%
Planters Development Bank 4,646,210,780.87 3,072,249,879.11 151.23%
Philippine Postal Savings Bank 613,789,245.35 484,550,891.29 126.67%
Chinatrust (Philippines) Commercial Banking Corporation 387,219,078.50 311,170,716.63 124.44%
City Savings Bank 211,202,928.54 170,052,316.64 124.20%
Pampanga Development Bank 41,660,931.67 35,205,062.27 118.34%
HongKong & Shanghai Banking Corporation 882,271,153.49 756,520,291.29 116.62%
United Overseas Bank Philippines 774,109,915.41 669,199,636.35 115.68%
ANZ Banking Group Ltd 26,044,731.62 23,339,114.85 111.59%
BPI Direct Savings Bank 194,709,757.97 174,526,663.29 111.56%
Standard Chartered Bank 1,267,131,121.27 1,144,762,620.59 110.69%
Citibank Savings Inc. 2,797,140,963.96 2,582,409,401.88 108.32%
Dungganon Bank 14,511,785.70 13,531,254.95 107.25%
Allied Savings Bank 385,253,892.82 381,815,184.79 100.90%
Lemery Savings & Loan Bank, Inc. 15,084,869.14 15,073,450.87 100.08%
Bangkok Bank Public Co. Ltd 5,234,155.55 5,234,155.55 100.00%
Bataan SLA 2,474,043.37 2,474,043.37 100.00%
Hiyas Savings & Loan Bank 36,676,387.24 36,676,387.24 100.00%
JP Morgan Chase National Bank Association 734,885.22 734,885.22 100.00%
Malasiqui Progressive SLB, Inc. 16,401,428.95 16,401,428.95 100.00%
Opportunity Kauswagan Bank, Inc. 76,591,260.61 76,591,260.61 100.00%
Sampaguita SLA 22,445,192.56 22,445,192.56 100.00%
Sun Savings Bank 5,123,997.18 5,123,997.18 100.00%
Luzon Development Bank 177,847,614.10 185,391,103.62 95.93%
Silangan Savings and Loan Bank, Inc. 15,667,481.35 19,671,049.99 79.65%
Sterling Bank of Asia Inc. 759,230,533.00 1,067,092,272.87 71.15%
Century Savings Bank 35,275,168.02 80,379,583.03 43.89%
Wealth Bank - A Development Bank 66,943,622.20 155,007,342.60 43.19%
Philippine Bank of Communications 225,032,801.08 1,300,909,578.87 17.30%
Card SME Bank Inc. (A Thrift Bank) 0.00 14,679,663.30 0.00%
Enterprise Bank Inc. 0.00 101,407,539.68 0.00%
Merchants Savings & Loan Association Inc. 0.00 2,210,767.48 0.00%
Microfinance Maximum SB (Maxbank) 0.00 1,899,696.25 0.00%
Northpoint Development Bank 0.00 3,157,575.23 0.00%
Pacific Ace Savings Bank 0.00 7,078,580.74 0.00%
The Palawan Bank 0.00 15,467,103.88 0.00%
World Partners Bank (A Thrift Bank) 0.00 56,209,010.88 0.00%
BDO Elite Savings Bank 0.00 0.00 NA
BDO Private Bank, Inc. 0.00 0.00 NA
Deutsche Bank AG 494,632,222.23 0.00 NA
Isla Bank (A Thrift Bank) Inc. 34,378,231.97 0.00 NA
Mega International Commercial Bank Company Limited 656,030,641.00 0.00 NA
Mizuho Corporate Bank Ltd. - Manila Branch 901,277,592.69 0.00 NA
The Bank of Tokyo - Mitsubishi UFJ Ltd 1,349,080.66 0.00 NA
Inter-Asia Development Bank NA NA NA
Allied Banking Corporation NA NA NA
Legazpi Savings Bank Inc. NA NA NA
The Real Bank (A Thrift Bank) Inc. NA NA NA
Grand Total 369,729,419,785.83 123,142,586,086.69 300.24%



Source: www.bsp.gov.ph


This level of classified loans should be measured against the bank's "capital cushion" or its ability to absorb losses.  Capital Cushion is normally defined as a bank's "Tangible Common Equity" plus its Loan Loss Reserves.  Tangible Common Equity (TCE) refers to the subset of shareholders' equity that is not preferred equity and not intangible assets.  So it excludes such items as Hybrid equity (like preferred shares) and goodwill.

By this measure, the level of "Classified Loans and other Risky Assets" amounts to 36.90% of the PhP 1.002 trillion in Total Capital Cushion of Philippine Banks as of March 31, 2013.



Philippine Banking System
Classified Loans as % of Total Capital Cushion
March 31, 2013









Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion
Bank (In Php) (In Php) (In %)
Bank of China Limited - Manila Branch 6,197,517,530.06 685,633,584.43 903.91%
Village SLA, Inc. 462,746,435.43 72,569,009.96 637.66%
Iloilo City Development Bank 296,570,738.70 74,460,161.05 398.29%
Comsavings Bank 1,275,879,789.57 350,256,389.87 364.27%
United Coconut Planters Bank 36,866,000,000.00 11,948,563,753.86 308.54%
Citibank N.A. 25,406,180,000.00 12,803,154,229.50 198.44%
University Savings Bank 383,909,077.37 238,815,498.62 160.76%
China Bank Savings 1,463,467,294.71 924,982,941.27 158.22%
Equicom SB 337,933,869.97 226,893,033.22 148.94%
Bank of Commerce 24,857,960,000.00 19,097,682,135.51 130.16%
Bataan Development Bank 102,400,000.00 79,408,150.74 128.95%
Business & Consumers Bank 98,520,154.06 83,158,250.15 118.47%
RCBC Savings Bank 8,915,418,143.00 8,458,793,246.14 105.40%
Planters Development Bank 4,646,210,780.87 4,492,399,583.23 103.42%
Farmers Savings & Loan Bank 120,576,710.07 121,460,323.18 99.27%
Korea Exchange Bank 528,097,204.79 574,154,130.72 91.98%
Maritime SLA 58,982,246.01 71,371,831.58 82.64%
Security Bank Savings Corporation 1,456,971,868.99 1,774,788,044.47 82.09%
Mega International Commercial Bank Company Limited 656,030,641.00 806,269,723.00 81.37%
Philippine Resources Savings Banking Corporation 1,215,514,595.06 1,504,814,681.31 80.78%
Malayan Bank Savings & Mortgage Bank 949,509,703.77 1,197,907,246.98 79.26%
Opportunity Kauswagan Bank, Inc. 76,591,260.61 100,422,184.04 76.27%
Dumaguete City Development Bank 165,608,000.00 217,297,074.83 76.21%
Citibank Savings Inc. 2,797,140,963.96 4,038,289,977.25 69.27%
Philippine Postal Savings Bank 613,789,245.35 913,967,454.19 67.16%
Tong Yang Savings Bank Inc. 326,433,293.48 489,172,436.34 66.73%
Philippine Savings Bank 11,566,426,975.29 18,508,339,248.39 62.49%
Philippine Veterans Bank 4,006,204,707.08 7,002,089,593.69 57.21%
UCPB Savings Bank 1,473,854,107.38 2,602,331,669.44 56.64%
United Overseas Bank Philippines 774,109,915.41 1,372,705,840.63 56.39%
Mizuho Corporate Bank Ltd. - Manila Branch 901,277,592.69 1,622,761,195.48 55.54%
BPI Globe Banko Inc. Savings Bank 295,115,390.05 560,439,118.02 52.66%
Penbank, Inc. 143,930,164.98 286,214,181.94 50.29%
Philippine National Bank 41,856,145,693.94 83,561,759,995.75 50.09%
Pridestar Development Bank 37,322,257.03 74,627,626.02 50.01%
Asia United Bank Corporation 5,267,382,287.21 11,341,105,388.50 46.45%
Standard Chartered Bank 1,267,131,121.27 2,828,803,541.61 44.79%
Cordillera Savings Bank 48,677,759.26 113,009,018.46 43.07%
Union Bank of the Philippines 22,504,332,526.88 52,688,551,721.95 42.71%
Bank One Savings and Trust Corp. 205,731,149.94 535,403,383.73 38.43%
BPI Family Savings Bank 7,544,685,972.57 19,926,427,350.72 37.86%
Sterling Bank of Asia Inc. 759,230,533.00 2,026,039,593.80 37.47%
Allied Savings Bank 385,253,892.82 1,032,242,470.70 37.32%
Land Bank of the Philippines 20,136,051,258.65 55,176,261,963.48 36.49%
Luzon Development Bank 177,847,614.10 505,564,924.77 35.18%
Deutsche Bank AG 494,632,222.23 1,451,250,289.02 34.08%
Pampanga Development Bank 41,660,931.67 125,480,286.07 33.20%
First Consolidated Bank 743,187,008.74 2,248,048,867.75 33.06%
Quezon Coconut Producers SLB Inc. 19,020,776.28 58,325,694.46 32.61%
Producers Savings Bank 332,547,201.62 1,074,557,352.06 30.95%
Silangan Savings and Loan Bank, Inc. 15,667,481.35 51,238,430.87 30.58%
Sampaguita SLA 22,445,192.56 74,575,772.55 30.10%
Metro Cebu Public Savings Bank 21,254,853.83 70,789,328.55 30.03%
East West Banking Corporation 5,919,925,900.00 20,066,410,961.86 29.50%
Malasiqui Progressive SLB, Inc. 16,401,428.95 59,987,437.99 27.34%
Development Bank of the Philippines 9,673,382,790.39 37,050,965,390.28 26.11%
Life Savings Bank 16,787,454.81 66,578,200.06 25.21%
Rizal Commercial Banking Corporation 10,271,575,646.34 42,748,717,015.67 24.03%
China Banking Corporation 10,662,565,756.49 44,477,168,533.72 23.97%
Robinsons Bank Corporation 1,355,020,000.00 6,081,708,945.68 22.28%
Hiyas Savings & Loan Bank 36,676,387.24 172,039,936.56 21.32%
Lemery Savings & Loan Bank, Inc. 15,084,869.14 71,094,084.23 21.22%
Dungganon Bank 14,511,785.70 69,970,203.97 20.74%
BPI Direct Savings Bank 194,709,757.97 962,690,528.70 20.23%
Philippine Trust Company 3,614,862,101.13 18,382,183,736.20 19.67%
Bank of the Philippine Islands 19,855,827,842.69 101,796,874,232.99 19.51%
Tower Development Bank 22,551,426.55 115,765,899.34 19.48%
Metropolitan Bank & Trust Company 21,513,055,307.80 112,655,751,057.95 19.10%
Banco De Oro Unibank 33,784,719,907.61 177,441,845,877.26 19.04%
Maybank Philippines Inc. 1,632,947,915.50 9,079,475,717.27 17.99%
Internationale Nederlanden Groep BK 460,783,734.92 2,655,531,906.93 17.35%
HongKong & Shanghai Banking Corporation 882,271,153.49 5,155,376,110.01 17.11%
Al-Amanah Islamic Bank of the Philippines 72,205,000.00 445,124,546.72 16.22%
Wealth Bank - A Development Bank 66,943,622.20 421,544,146.45 15.88%
Philippine Business Bank 1,184,818,220.39 7,595,417,603.40 15.60%
Security Bank Corporation 5,766,000,000.00 39,137,952,338.88 14.73%
CityState Savings Bank 102,034,721.36 808,185,795.23 12.63%
The Queen City Development Bank 71,039,980.76 686,692,465.33 10.35%
City Savings Bank 211,202,928.54 2,492,516,971.70 8.47%
HSBC Savings Bank (Phils) Inc. 219,099,781.98 2,686,441,511.65 8.16%
Optimum Development Bank 43,396,778.20 731,203,784.14 5.93%
Chinatrust (Philippines) Commercial Banking Corporation 387,219,078.50 6,615,784,871.99 5.85%
Isla Bank (A Thrift Bank) Inc. 34,378,231.97 645,507,292.30 5.33%
Sun Savings Bank 5,123,997.18 103,038,846.69 4.97%
Philippine Bank of Communications 225,032,801.08 4,843,878,337.23 4.65%
Progress SLA 3,531,277.85 83,965,899.99 4.21%
Century Savings Bank 35,275,168.02 896,069,697.57 3.94%
Bataan SLA 2,474,043.37 76,527,304.60 3.23%
ANZ Banking Group Ltd 26,044,731.62 2,426,645,703.15 1.07%
Bank of America N.A. 5,534,000.00 606,696,709.20 0.91%
Bangkok Bank Public Co. Ltd 5,234,155.55 1,230,488,677.00 0.43%
The Bank of Tokyo - Mitsubishi UFJ Ltd 1,349,080.66 2,278,627,961.84 0.06%
JP Morgan Chase National Bank Association 734,885.22 1,399,233,600.00 0.05%
BDO Elite Savings Bank 0.00 1,546,549,042.92 0.00%
BDO Private Bank, Inc. 0.00 5,260,407,527.13 0.00%
Card SME Bank Inc. (A Thrift Bank) 0.00 220,043,734.69 0.00%
Enterprise Bank Inc. 0.00 524,113,918.41 0.00%
Merchants Savings & Loan Association Inc. 0.00 545,519,147.04 0.00%
Microfinance Maximum SB (Maxbank) 0.00 63,374,791.71 0.00%
Northpoint Development Bank 0.00 79,739,033.66 0.00%
Pacific Ace Savings Bank 0.00 79,221,909.62 0.00%
The Palawan Bank 0.00 26,105,838.96 0.00%
World Partners Bank (A Thrift Bank) 0.00 177,860,310.22 0.00%
Allied Banking Corporation NA NA NA
Inter-Asia Development Bank NA NA NA
Legazpi Savings Bank Inc. NA NA NA
The Real Bank (A Thrift Bank) Inc. NA NA NA
Grand Total 369,729,419,785.83 1,002,110,244,019.94 36.90%



Source: www.bsp.gov.ph


Stress Test Scenarios

Aggregate

So how will a 10%, 20%, 30%, 40%, and even 50% write-off of Classified Loans affect the Total Capital Cushion of the Philippine Banking System?

In the aggregate, if Classified Loans amount to 36.90% of the banking system's Total Capital Cushion, then it follows that a 10% write-off of Classified Loans will reduce the total capital by 3.69% and a 50% write-off of classified loans will reduce the banking system's Total Capital Cushion by 18.45%.

Individual Banks

A 10% write-off of Classified Loans would severely impact (by 30% or more) the Total Capital Cushion of five banks (severely affected banks highlighted in yellow).
  1. Bank of China Limited - Manila Branch (90.39% reduction in Total Capital Cushion)
  2. Village SLA, Inc. (63.77% reduction in Total Capital Cushion)
  3. Iloilo City Development Bank (39.83% reduction in Total Capital Cushion)
  4. Comsavings Bank (36.43% reduction in Total Capital Cushion)
  5. United Coconut Planters Bank (30.85% reduction in Total Capital Cushion)

A 20% write-off of Classified Loans will totally wipe out the Total Capital Cushion of two banks (highlighted in red) and severely impact the Total Capital Cushion of five more banks:
  1. Bank of China Limited - Manila Branch (180.78% reduction in Total Capital Cushion)
  2. Village SLA, Inc. (127.53%% reduction in Total Capital Cushion)
  3. Iloilo City Development Bank (79.66% reduction in Total Capital Cushion)
  4. Comsavings Bank (72.85% reduction in Total Capital Cushion)
  5. United Coconut Planters Bank (61.71% reduction in Total Capital Cushion)
  6. Citibank N.A. (39.69% reduction in Total Capital Cushion)
  7. University Savings Bank (32.15% reduction in Total Capital Cushion
  8. China Bank Savings (31.64% reduction in Total Capital Cushion)
A 30% write-off of Classified Loans will totally wipe out the Total Capital Cushion of four banks and severely affect (reduce by 30% or more) the Total Capital Cushion of ten other banks:

  1. Bank of China Limited - Manila Branch (271.17% reduction in Total Capital Cushion)
  2. Village SLA, Inc. (191.30%% reduction in Total Capital Cushion)
  3. Iloilo City Development Bank (119.49% reduction in Total Capital Cushion)
  4. Comsavings Bank (109.28% reduction in Total Capital Cushion)
  5. United Coconut Planters Bank (92.56% reduction in Total Capital Cushion)
  6. Citibank N.A. (59.53% reduction in Total Capital Cushion)
  7. University Savings Bank (48.23% reduction in Total Capital Cushion
  8. China Bank Savings (47.46% reduction in Total Capital Cushion)
  9. Equicom SB (44.68% reduction in Total Capital Cushion)
  10. Bank of Commerce (39.05% reduction in Total Capital Cushion)
  11. Bataan Development Bank (38.69% reduction in Total Capital Cushion)
  12. Business & Consumers Bank (35.54% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (31.62% reduction in Total Capital Cushion)
  14. Planters Development Bank (31.03% reduction in Total Capital Cushion)
A 40% write-off of Classified Loans will totally wipe out the Total Capital Cushion of five banks and severely affect (reduce by 30% or more) the Total Capital Cushion of eighteen more banks:

  1. Bank of China Limited - Manila Branch (361.56% reduction in Total Capital Cushion)
  2. Village SLA, Inc. (255.07%% reduction in Total Capital Cushion)
  3. Iloilo City Development Bank (159.32% reduction in Total Capital Cushion)
  4. Comsavings Bank (145.71% reduction in Total Capital Cushion)
  5. United Coconut Planters Bank (123.42% reduction in Total Capital Cushion)
  6. Citibank N.A. (79.37% reduction in Total Capital Cushion)
  7. University Savings Bank (64.30% reduction in Total Capital Cushion
  8. China Bank Savings (63.29% reduction in Total Capital Cushion)
  9. Equicom SB (59.58% reduction in Total Capital Cushion)
  10. Bank of Commerce (52.06% reduction in Total Capital Cushion)
  11. Bataan Development Bank (51.58% reduction in Total Capital Cushion)
  12. Business & Consumers Bank (47.39% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (42.16% reduction in Total Capital Cushion)
  14. Planters Development Bank (41.37% reduction in Total Capital Cushion)
  15. Farmers Savings & Loan Bank (39.71% reduction in Total Capital Cushion)
  16. Korea Exchange Bank (36.79% reduction in Total Capital Cushion)
  17. Maritime SLA (33.06% reduction in Total Capital Cushion)
  18. Security Bank Savings Corporation (32.84% reduction in Total Capital Cushion)
  19. Mega International Commercial Bank Company Limited (32.55% reduction in Total Capital Cushion)
  20. Philippine Resources Savings Banking Corporation (32.31% reduction in Total Capital Cushion)
  21. Malayan Bank Savings & Mortgage Bank (31.71% reduction in Total Capital Cushion)
  22. Opportunity Kauswagan Bank, Inc. (30.51% reduction in Total Capital Cushion)
  23. Dumaguete City Development Bank (30.49% reduction in Total Capital Cushion)

A 50% write-off of Classified Loans will totally wipe out the Total Capital Cushion of five banks and severely affect (reduce by 30% or more) the Total Capital Cushion of twenty-two more banks:

  1. Bank of China Limited - Manila Branch (451.96% reduction in Total Capital Cushion)
  2. Village SLA, Inc. (318.83%% reduction in Total Capital Cushion)
  3. Iloilo City Development Bank (199.15% reduction in Total Capital Cushion)
  4. Comsavings Bank (182.14% reduction in Total Capital Cushion)
  5. United Coconut Planters Bank (154.27% reduction in Total Capital Cushion)
  6. Citibank N.A. (99.22% reduction in Total Capital Cushion)
  7. University Savings Bank (80.38% reduction in Total Capital Cushion
  8. China Bank Savings (79.11% reduction in Total Capital Cushion)
  9. Equicom SB (74.47% reduction in Total Capital Cushion)
  10. Bank of Commerce (65.08% reduction in Total Capital Cushion)
  11. Bataan Development Bank (64.48% reduction in Total Capital Cushion)
  12. Business & Consumers Bank (59.24% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (52.70% reduction in Total Capital Cushion)
  14. Planters Development Bank (51.71% reduction in Total Capital Cushion)
  15. Farmers Savings & Loan Bank (49.64% reduction in Total Capital Cushion)
  16. Korea Exchange Bank (45.99% reduction in Total Capital Cushion)
  17. Maritime SLA (41.32% reduction in Total Capital Cushion)
  18. Security Bank Savings Corporation (41.05% reduction in Total Capital Cushion)
  19. Mega International Commercial Bank Company Limited (40.68% reduction in Total Capital Cushion)
  20. Philippine Resources Savings Banking Corporation (40.39% reduction in Total Capital Cushion)
  21. Malayan Bank Savings & Mortgage Bank (39.63% reduction in Total Capital Cushion)
  22. Opportunity Kauswagan Bank, Inc. (38.13% reduction in Total Capital Cushion)
  23. Dumaguete City Development Bank (38.11% reduction in Total Capital Cushion)
  24. Citibank Savings Inc. (34.63% reduction in Total Capital Cushion)
  25. Philippine Postal Savings Bank Inc. (33.58% reduction in Total Capital Cushion)
  26. Tong Yang Savings Bank Inc. (33.37% reduction in Total Capital Cushion)
  27. Philippine Savings Bank (31.25% reduction in Total Capital Cushion)

Please bear in mind that a number of these banks are already very weak and are in distress.  Please see a previous blog post: "The Top Distressed Philippine Banks as of March 31, 2013"). Moreover, their capital can be overstated.  See a previous blog post "Can Philippine Banks Charge their Unbooked Losses Against Retained Earnings? - March 31, 2013".  As such, any reduction in their capital cushion could knock down an already weak bank.


Philippine Banking System







Impact Analysis of Classified Loan Loss on Total Capital Cushion







March 31, 2013


























Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion Impact of 10% Loss on Total Capital Cushion Impact of 20% Loss on Total Capital Cushion Impact of 30% Loss on Total Capital Cushion Impact of 40% Loss on Total Capital Cushion Impact of 50% Loss on Total Capital Cushion
Bank (In Php) (In Php) (In %) (In %) (In %) (In %) (In %) (In %)
Bank of China Limited - Manila Branch 6,197,517,530.06 685,633,584.43 903.91% 90.39% 180.78% 271.17% 361.56% 451.96%
Village SLA, Inc. 462,746,435.43 72,569,009.96 637.66% 63.77% 127.53% 191.30% 255.07% 318.83%
Iloilo City Development Bank 296,570,738.70 74,460,161.05 398.29% 39.83% 79.66% 119.49% 159.32% 199.15%
Comsavings Bank 1,275,879,789.57 350,256,389.87 364.27% 36.43% 72.85% 109.28% 145.71% 182.14%
United Coconut Planters Bank 36,866,000,000.00 11,948,563,753.86 308.54% 30.85% 61.71% 92.56% 123.42% 154.27%
Citibank N.A. 25,406,180,000.00 12,803,154,229.50 198.44% 19.84% 39.69% 59.53% 79.37% 99.22%
University Savings Bank 383,909,077.37 238,815,498.62 160.76% 16.08% 32.15% 48.23% 64.30% 80.38%
China Bank Savings 1,463,467,294.71 924,982,941.27 158.22% 15.82% 31.64% 47.46% 63.29% 79.11%
Equicom SB 337,933,869.97 226,893,033.22 148.94% 14.89% 29.79% 44.68% 59.58% 74.47%
Bank of Commerce 24,857,960,000.00 19,097,682,135.51 130.16% 13.02% 26.03% 39.05% 52.06% 65.08%
Bataan Development Bank 102,400,000.00 79,408,150.74 128.95% 12.90% 25.79% 38.69% 51.58% 64.48%
Business & Consumers Bank 98,520,154.06 83,158,250.15 118.47% 11.85% 23.69% 35.54% 47.39% 59.24%
RCBC Savings Bank 8,915,418,143.00 8,458,793,246.14 105.40% 10.54% 21.08% 31.62% 42.16% 52.70%
Planters Development Bank 4,646,210,780.87 4,492,399,583.23 103.42% 10.34% 20.68% 31.03% 41.37% 51.71%
Farmers Savings & Loan Bank 120,576,710.07 121,460,323.18 99.27% 9.93% 19.85% 29.78% 39.71% 49.64%
Korea Exchange Bank 528,097,204.79 574,154,130.72 91.98% 9.20% 18.40% 27.59% 36.79% 45.99%
Maritime SLA 58,982,246.01 71,371,831.58 82.64% 8.26% 16.53% 24.79% 33.06% 41.32%
Security Bank Savings Corporation 1,456,971,868.99 1,774,788,044.47 82.09% 8.21% 16.42% 24.63% 32.84% 41.05%
Mega International Commercial Bank Company Limited 656,030,641.00 806,269,723.00 81.37% 8.14% 16.27% 24.41% 32.55% 40.68%
Philippine Resources Savings Banking Corporation 1,215,514,595.06 1,504,814,681.31 80.78% 8.08% 16.16% 24.23% 32.31% 40.39%
Malayan Bank Savings & Mortgage Bank 949,509,703.77 1,197,907,246.98 79.26% 7.93% 15.85% 23.78% 31.71% 39.63%
Opportunity Kauswagan Bank, Inc. 76,591,260.61 100,422,184.04 76.27% 7.63% 15.25% 22.88% 30.51% 38.13%
Dumaguete City Development Bank 165,608,000.00 217,297,074.83 76.21% 7.62% 15.24% 22.86% 30.49% 38.11%
Citibank Savings Inc. 2,797,140,963.96 4,038,289,977.25 69.27% 6.93% 13.85% 20.78% 27.71% 34.63%
Philippine Postal Savings Bank 613,789,245.35 913,967,454.19 67.16% 6.72% 13.43% 20.15% 26.86% 33.58%
Tong Yang Savings Bank Inc. 326,433,293.48 489,172,436.34 66.73% 6.67% 13.35% 20.02% 26.69% 33.37%
Philippine Savings Bank 11,566,426,975.29 18,508,339,248.39 62.49% 6.25% 12.50% 18.75% 25.00% 31.25%
Philippine Veterans Bank 4,006,204,707.08 7,002,089,593.69 57.21% 5.72% 11.44% 17.16% 22.89% 28.61%
UCPB Savings Bank 1,473,854,107.38 2,602,331,669.44 56.64% 5.66% 11.33% 16.99% 22.65% 28.32%
United Overseas Bank Philippines 774,109,915.41 1,372,705,840.63 56.39% 5.64% 11.28% 16.92% 22.56% 28.20%
Mizuho Corporate Bank Ltd. - Manila Branch 901,277,592.69 1,622,761,195.48 55.54% 5.55% 11.11% 16.66% 22.22% 27.77%
BPI Globe Banko Inc. Savings Bank 295,115,390.05 560,439,118.02 52.66% 5.27% 10.53% 15.80% 21.06% 26.33%
Penbank, Inc. 143,930,164.98 286,214,181.94 50.29% 5.03% 10.06% 15.09% 20.12% 25.14%
Philippine National Bank 41,856,145,693.94 83,561,759,995.75 50.09% 5.01% 10.02% 15.03% 20.04% 25.05%
Pridestar Development Bank 37,322,257.03 74,627,626.02 50.01% 5.00% 10.00% 15.00% 20.00% 25.01%
Asia United Bank Corporation 5,267,382,287.21 11,341,105,388.50 46.45% 4.64% 9.29% 13.93% 18.58% 23.22%
Standard Chartered Bank 1,267,131,121.27 2,828,803,541.61 44.79% 4.48% 8.96% 13.44% 17.92% 22.40%
Cordillera Savings Bank 48,677,759.26 113,009,018.46 43.07% 4.31% 8.61% 12.92% 17.23% 21.54%
Union Bank of the Philippines 22,504,332,526.88 52,688,551,721.95 42.71% 4.27% 8.54% 12.81% 17.08% 21.36%
Bank One Savings and Trust Corp. 205,731,149.94 535,403,383.73 38.43% 3.84% 7.69% 11.53% 15.37% 19.21%
BPI Family Savings Bank 7,544,685,972.57 19,926,427,350.72 37.86% 3.79% 7.57% 11.36% 15.15% 18.93%
Sterling Bank of Asia Inc. 759,230,533.00 2,026,039,593.80 37.47% 3.75% 7.49% 11.24% 14.99% 18.74%
Allied Savings Bank 385,253,892.82 1,032,242,470.70 37.32% 3.73% 7.46% 11.20% 14.93% 18.66%
Land Bank of the Philippines 20,136,051,258.65 55,176,261,963.48 36.49% 3.65% 7.30% 10.95% 14.60% 18.25%
Luzon Development Bank 177,847,614.10 505,564,924.77 35.18% 3.52% 7.04% 10.55% 14.07% 17.59%
Deutsche Bank AG 494,632,222.23 1,451,250,289.02 34.08% 3.41% 6.82% 10.22% 13.63% 17.04%
Pampanga Development Bank 41,660,931.67 125,480,286.07 33.20% 3.32% 6.64% 9.96% 13.28% 16.60%
First Consolidated Bank 743,187,008.74 2,248,048,867.75 33.06% 3.31% 6.61% 9.92% 13.22% 16.53%
Quezon Coconut Producers SLB Inc. 19,020,776.28 58,325,694.46 32.61% 3.26% 6.52% 9.78% 13.04% 16.31%
Producers Savings Bank 332,547,201.62 1,074,557,352.06 30.95% 3.09% 6.19% 9.28% 12.38% 15.47%
Silangan Savings and Loan Bank, Inc. 15,667,481.35 51,238,430.87 30.58% 3.06% 6.12% 9.17% 12.23% 15.29%
Sampaguita SLA 22,445,192.56 74,575,772.55 30.10% 3.01% 6.02% 9.03% 12.04% 15.05%
Metro Cebu Public Savings Bank 21,254,853.83 70,789,328.55 30.03% 3.00% 6.01% 9.01% 12.01% 15.01%
East West Banking Corporation 5,919,925,900.00 20,066,410,961.86 29.50% 2.95% 5.90% 8.85% 11.80% 14.75%
Malasiqui Progressive SLB, Inc. 16,401,428.95 59,987,437.99 27.34% 2.73% 5.47% 8.20% 10.94% 13.67%
Development Bank of the Philippines 9,673,382,790.39 37,050,965,390.28 26.11% 2.61% 5.22% 7.83% 10.44% 13.05%
Life Savings Bank 16,787,454.81 66,578,200.06 25.21% 2.52% 5.04% 7.56% 10.09% 12.61%
Rizal Commercial Banking Corporation 10,271,575,646.34 42,748,717,015.67 24.03% 2.40% 4.81% 7.21% 9.61% 12.01%
China Banking Corporation 10,662,565,756.49 44,477,168,533.72 23.97% 2.40% 4.79% 7.19% 9.59% 11.99%
Robinsons Bank Corporation 1,355,020,000.00 6,081,708,945.68 22.28% 2.23% 4.46% 6.68% 8.91% 11.14%
Hiyas Savings & Loan Bank 36,676,387.24 172,039,936.56 21.32% 2.13% 4.26% 6.40% 8.53% 10.66%
Lemery Savings & Loan Bank, Inc. 15,084,869.14 71,094,084.23 21.22% 2.12% 4.24% 6.37% 8.49% 10.61%
Dungganon Bank 14,511,785.70 69,970,203.97 20.74% 2.07% 4.15% 6.22% 8.30% 10.37%
BPI Direct Savings Bank 194,709,757.97 962,690,528.70 20.23% 2.02% 4.05% 6.07% 8.09% 10.11%
Philippine Trust Company 3,614,862,101.13 18,382,183,736.20 19.67% 1.97% 3.93% 5.90% 7.87% 9.83%
Bank of the Philippine Islands 19,855,827,842.69 101,796,874,232.99 19.51% 1.95% 3.90% 5.85% 7.80% 9.75%
Tower Development Bank 22,551,426.55 115,765,899.34 19.48% 1.95% 3.90% 5.84% 7.79% 9.74%
Metropolitan Bank & Trust Company 21,513,055,307.80 112,655,751,057.95 19.10% 1.91% 3.82% 5.73% 7.64% 9.55%
Banco De Oro Unibank 33,784,719,907.61 177,441,845,877.26 19.04% 1.90% 3.81% 5.71% 7.62% 9.52%
Maybank Philippines Inc. 1,632,947,915.50 9,079,475,717.27 17.99% 1.80% 3.60% 5.40% 7.19% 8.99%
Internationale Nederlanden Groep BK 460,783,734.92 2,655,531,906.93 17.35% 1.74% 3.47% 5.21% 6.94% 8.68%
HongKong & Shanghai Banking Corporation 882,271,153.49 5,155,376,110.01 17.11% 1.71% 3.42% 5.13% 6.85% 8.56%
Al-Amanah Islamic Bank of the Philippines 72,205,000.00 445,124,546.72 16.22% 1.62% 3.24% 4.87% 6.49% 8.11%
Wealth Bank - A Development Bank 66,943,622.20 421,544,146.45 15.88% 1.59% 3.18% 4.76% 6.35% 7.94%
Philippine Business Bank 1,184,818,220.39 7,595,417,603.40 15.60% 1.56% 3.12% 4.68% 6.24% 7.80%
Security Bank Corporation 5,766,000,000.00 39,137,952,338.88 14.73% 1.47% 2.95% 4.42% 5.89% 7.37%
CityState Savings Bank 102,034,721.36 808,185,795.23 12.63% 1.26% 2.53% 3.79% 5.05% 6.31%
The Queen City Development Bank 71,039,980.76 686,692,465.33 10.35% 1.03% 2.07% 3.10% 4.14% 5.17%
City Savings Bank 211,202,928.54 2,492,516,971.70 8.47% 0.85% 1.69% 2.54% 3.39% 4.24%
HSBC Savings Bank (Phils) Inc. 219,099,781.98 2,686,441,511.65 8.16% 0.82% 1.63% 2.45% 3.26% 4.08%
Optimum Development Bank 43,396,778.20 731,203,784.14 5.93% 0.59% 1.19% 1.78% 2.37% 2.97%
Chinatrust (Philippines) Commercial Banking Corporation 387,219,078.50 6,615,784,871.99 5.85% 0.59% 1.17% 1.76% 2.34% 2.93%
Isla Bank (A Thrift Bank) Inc. 34,378,231.97 645,507,292.30 5.33% 0.53% 1.07% 1.60% 2.13% 2.66%
Sun Savings Bank 5,123,997.18 103,038,846.69 4.97% 0.50% 0.99% 1.49% 1.99% 2.49%
Philippine Bank of Communications 225,032,801.08 4,843,878,337.23 4.65% 0.46% 0.93% 1.39% 1.86% 2.32%
Progress SLA 3,531,277.85 83,965,899.99 4.21% 0.42% 0.84% 1.26% 1.68% 2.10%
Century Savings Bank 35,275,168.02 896,069,697.57 3.94% 0.39% 0.79% 1.18% 1.57% 1.97%
Bataan SLA 2,474,043.37 76,527,304.60 3.23% 0.32% 0.65% 0.97% 1.29% 1.62%
ANZ Banking Group Ltd 26,044,731.62 2,426,645,703.15 1.07% 0.11% 0.21% 0.32% 0.43% 0.54%
Bank of America N.A. 5,534,000.00 606,696,709.20 0.91% 0.09% 0.18% 0.27% 0.36% 0.46%
Bangkok Bank Public Co. Ltd 5,234,155.55 1,230,488,677.00 0.43% 0.04% 0.09% 0.13% 0.17% 0.21%
The Bank of Tokyo - Mitsubishi UFJ Ltd 1,349,080.66 2,278,627,961.84 0.06% 0.01% 0.01% 0.02% 0.02% 0.03%
JP Morgan Chase National Bank Association 734,885.22 1,399,233,600.00 0.05% 0.01% 0.01% 0.02% 0.02% 0.03%
BDO Elite Savings Bank 0.00 1,546,549,042.92 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BDO Private Bank, Inc. 0.00 5,260,407,527.13 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Card SME Bank Inc. (A Thrift Bank) 0.00 220,043,734.69 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Bank Inc. 0.00 524,113,918.41 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Merchants Savings & Loan Association Inc. 0.00 545,519,147.04 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Microfinance Maximum SB (Maxbank) 0.00 63,374,791.71 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Northpoint Development Bank 0.00 79,739,033.66 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pacific Ace Savings Bank 0.00 79,221,909.62 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
The Palawan Bank 0.00 26,105,838.96 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
World Partners Bank (A Thrift Bank) 0.00 177,860,310.22 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Allied Banking Corporation NA NA NA NA NA NA NA NA
Inter-Asia Development Bank NA NA NA NA NA NA NA NA
Legazpi Savings Bank Inc. NA NA NA NA NA NA NA NA
The Real Bank (A Thrift Bank) Inc. NA NA NA NA NA NA NA NA
Grand Total 369,729,419,785.83 1,002,110,244,019.94 36.90% 3.69% 7.38% 11.07% 14.76% 18.45%

Source: www.bsp.gov.ph
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