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Friday, January 2, 2015

A Simple Stress Test of Philippine Banks as of June 30, 2014

Editor's Note: This is an updated version of an earlier blog post "A Simple Stress Test of Philippine Banks as of March 31, 2014"

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 206.875 billion or 2.01% of the Php 10,277.166 billion in assets held in the Philippine Banking System as of March 31, 2014).


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 119.321 billion or 11.29% of the PhP 1,056.850 billion in Stockholders Equity (SE) as of June 30, 2014.  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.  Failed banks are highlighted in red.  For more information regarding this, please read "The Top Distressed Philippine Banks as of June 30, 2014").

The stockholder's equity of two banks, World Partners Bank and Standard Chartered Bank would be completely wiped out.  Six other banks, namely, Comsavings Bank (79.24% decline in SE), BPI Globe Banko Inc (77.19% decline in SE), Planters Development Bank (63.35% decline in SE), Legazpi Savings Bank (51.31% decline in SE), Opportunity Kauswagan Bank (45.26% decline in SE), Equicom Savings Bank Inc (31.30% decline in SE), would be severely affected.
Philippine Banking System
NPL as % of SE
June 30, 2014









NPL SE NPL/SE
Bank (In PHP) (In PHP) (In %)
WORLD PARTNERS BANK (A THRIFT BANK) 156,140,300.23 66,020,653.87 236.50%
STANDARD CHARTERED BANK 2,695,618,727.90 1,253,487,031.91 215.05%
COMSAVINGS BANK 191,248,204.56 120,677,859.83 158.48%
BPI GLOBE BANKO INC A SAVINGS BANK 380,810,052.97 246,665,785.77 154.38%
PLANTERS DEVELOPMENT BANK 3,510,296,829.98 2,770,525,271.24 126.70%
LEGAZPI SAVINGS BANK INC 343,109,718.52 334,365,431.73 102.62%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 62,793,100.02 69,372,692.46 90.52%
EQUICOM SAVINGS BANK INC 337,344,313.69 538,925,750.57 62.60%
SECURITY BANK SAVINGS CORPORATION 600,925,489.67 1,019,390,301.56 58.95%
MALAYAN BANK SAVINGS AND MORT BANK INC 572,748,780.92 1,028,955,335.76 55.66%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 858,715,671.59 1,547,193,472.97 55.50%
WEALTH DEVELOPMENT BANK CORPORATION 209,527,437.82 390,594,149.30 53.64%
UNITED OVERSEAS BANK PHILIPPINES 665,371,386.65 1,287,218,129.23 51.69%
ALLIED SAVINGS BANK 500,152,913.46 1,007,522,889.56 49.64%
PHIL POSTAL SAVINGS BANK INC 450,558,007.83 941,281,642.79 47.87%
THE PALAWAN BANK (PALAWAN DB) INC 13,679,793.00 28,960,778.80 47.24%
SAMPAGUITA SAVINGS BANK INC 26,518,966.62 57,136,102.65 46.41%
FARMERS SAVINGS & LOAN BANK INC 47,638,664.30 116,029,094.22 41.06%
LUZON DEVELOPMENT BANK 205,386,492.11 510,323,390.11 40.25%
ENTERPRISE BANK INC (A THRIFT BANK) 83,558,761.35 215,307,197.40 38.81%
NORTHPOINT DEV'T BANK INC 37,886,142.07 104,178,008.09 36.37%
PAMPANGA DEVELOPMENT BANK 44,254,205.99 122,977,750.65 35.99%
MALASIQUI PROGRESSIVE SLB, INC 19,257,920.25 54,765,674.18 35.16%
RCBC SAVINGS BANK INC 2,402,636,127.37 6,842,294,050.02 35.11%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 93,194,418.99 286,950,829.09 32.48%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 28,622,510.92 90,312,215.44 31.69%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 561,024,042.58 1,770,632,368.82 31.68%
METRO CEBU PUBLIC SAVINGS BANK 20,310,867.79 64,946,349.31 31.27%
TONGYANG SAVINGS BANK INC 110,617,410.43 387,360,153.54 28.56%
VILLAGE BANK INC (A THRIFT BANK) 21,234,993.83 74,858,306.64 28.37%
UNITED COCONUT PLANTERS BANK 5,789,807,611.16 20,882,259,694.88 27.73%
PHIL BANK OF COMMUNICATIONS 1,301,109,960.55 5,194,240,289.85 25.05%
BATAAN DEVELOPMENT BANK 17,242,964.32 68,845,166.07 25.05%
BPI FAMILY SAVINGS BANK INC 4,762,753,021.27 19,607,082,053.13 24.29%
CHINA BANK SAVINGS INC 476,867,642.57 1,982,007,109.53 24.06%
MARITIME SAVINGS BANK CORPORATION 14,923,853.25 63,350,757.17 23.56%
UNION BANK OF THE PHILS 9,851,315,969.97 42,715,477,296.24 23.06%
EAST WEST BANKING CORP 4,541,358,672.92 19,982,806,197.40 22.73%
PHIL SAVINGS BANK 3,594,733,281.93 15,888,557,293.01 22.62%
PRODUCERS SAVINGS BANK CORPORATION 262,893,457.71 1,215,452,192.66 21.63%
BANK OF COMMERCE 2,910,449,718.05 13,804,019,099.41 21.08%
HONGKONG & SHANGHAI BANKING CORP 1,284,388,818.19 6,128,617,011.95 20.96%
1ST VALLEY BANK INC A DEVELOPMENT BANK 229,969,316.89 1,097,657,583.44 20.95%
BUSINESS AND CONSUMERS BANK (A DB) 15,865,917.33 83,350,906.55 19.04%
FIRST CONSOLIDATED BANK INC (A PDB) 479,052,552.83 2,664,050,395.87 17.98%
DUMAGUETE CITY DEV BANK INC 36,993,882.52 217,555,165.85 17.00%
CITIBANK, N.A. 1,249,411,783.97 7,544,767,162.98 16.56%
CITYSTATE SAVINGS BANK INC 117,088,935.20 712,505,822.89 16.43%
INTER-ASIA DEVELOPMENT BANK 8,594,208.64 52,647,695.85 16.32%
UCPB SAVINGS BANK 443,571,417.59 2,778,790,125.30 15.96%
CORDILLERA SAVINGS BANK INC 17,061,634.00 108,031,837.04 15.79%
LIFE SAVINGS BANK INC 9,666,525.59 68,444,016.81 14.12%
MAYBANK PHILIPPINES INC 1,378,051,563.58 10,125,085,763.01 13.61%
PHILIPPINE VETERANS BANK 803,725,714.93 5,917,940,630.82 13.58%
PHIL NATIONAL BANK 10,658,942,086.40 79,525,798,653.86 13.40%
HIYAS BANKING CORPORATION 21,202,761.24 159,262,122.00 13.31%
DEVELOPMENT BANK OF THE PHIL 5,027,864,479.68 39,731,445,991.43 12.65%
PRIDE STAR DEVELOPMENT BANK INC 8,744,472.07 74,219,530.70 11.78%
BPI DIRECT SAVINGS BANK INC 118,877,307.16 1,109,886,490.98 10.71%
LAND BANK OF THE PHILIPPINES 7,513,826,163.99 70,373,037,743.59 10.68%
TOWER DEVELOPMENT BANK 12,448,940.29 116,787,594.77 10.66%
BDO UNIBANK INC 17,868,067,253.39 168,097,783,002.20 10.63%
LEMERY SAVINGS & LOAN BANK, INC. 7,724,884.86 73,865,607.32 10.46%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 770,221,304.39 7,666,510,181.33 10.05%
MICROFINANCE MAXIMUM SB INC 2,775,600.08 30,219,333.89 9.18%
ROBINSONS BANK CORPORATION 493,361,960.72 5,429,997,908.85 9.09%
CARD SME BANK INC A THRIFT BANK 25,092,689.59 296,679,524.16 8.46%
CHINA BANKING CORP 4,241,788,759.14 51,361,862,492.97 8.26%
SUN SAVINGS BANK INC 7,929,099.28 103,382,709.39 7.67%
UNIVERSITY SAVINGS BANK INC 28,825,541.35 400,897,820.00 7.19%
BANK OF THE PHIL ISLANDS 8,291,551,975.99 127,243,211,068.34 6.52%
CITY SAVINGS BANK INC 310,401,587.69 4,907,979,643.50 6.32%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 40,938,529.63 659,484,508.90 6.21%
CTBC BANK (PHILIPPINES) CORP 383,611,264.60 6,459,643,064.19 5.94%
PHIL TRUST COMPANY 1,136,024,377.76 21,375,540,063.61 5.31%
ASIA UNITED BANK CORPORATION 1,000,233,421.51 19,680,515,913.14 5.08%
RIZAL COMM'L BANKING CORP 2,151,334,878.51 45,252,827,742.29 4.75%
KOREA EXCHANGE BANK 23,650,175.60 558,783,438.21 4.23%
CENTURY SAVINGS BANK CORPORATION 36,286,160.53 918,765,094.33 3.95%
QUEZON COCONUT BANK INC (A THRIFT BANK) 2,197,241.35 58,857,072.72 3.73%
BATAAN SAVINGS AND LOAN BANK 2,160,189.36 73,274,541.94 2.95%
BANK ONE SAVINGS AND TRUST CORP. 15,304,127.53 550,752,559.83 2.78%
PACIFIC ACE SAVINGS BANK INC 2,030,877.00 77,669,919.54 2.61%
SECURITY BANK CORP 1,113,417,377.10 43,574,062,263.72 2.56%
OPTIMUM DEVELOPMENT BANK INC 16,717,877.39 709,905,455.92 2.35%
METROPOLITAN BANK & TCO 3,050,129,110.82 132,641,847,901.12 2.30%
HSBC SAVINGS BANK(PHILS) INC 45,347,213.20 2,623,473,842.47 1.73%
PROGRESS SAVINGS AND LOAN BANK INC 1,217,809.04 84,514,488.11 1.44%
MERCHANTS SAVINGS & LOAN ASSN INC 4,917,002.76 451,922,804.67 1.09%
BANK OF CHINA LIMITED-MANILA BRANCH 8,660,895.91 855,649,253.17 1.01%
ANZ BANKING GROUP LTD 23,339,114.85 3,346,921,525.57 0.70%
BANGKOK BANK PUBLIC CO LTD 4,834,155.55 1,127,540,326.47 0.43%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 1,092,048.97 376,280,973.01 0.29%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,208,182,494.49 0.06%
INTERNATIONALE NEDERLANDEN GROEP BK 89.30 2,561,962,514.03 0.00%
BANK OF AMERICA N.A. 4.00 596,946,705.20 0.00%
BDO ELITE SAVINGS BANK INC 0.00 802,740,672.73 0.00%
BDO PRIVATE BANK, INC. 0.00 5,548,736,354.23 0.00%
CITIBANK SAVINGS INC 0.00 920,744,421.35 0.00%
DEUTSCHE BANK AG 0.00 2,215,104,355.99 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 650,869,719.80 0.00%
MEGA INT'L COMM'L BANK CO LTD 0.00 1,930,759,082.84 0.00%
MIZUHO BANK LTD - MANILA BRANCH 0.00 2,746,484,720.25 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,636,362,532.62 0.00%
Grand Total 119,321,906,373.17 1,056,849,876,428.09 11.29%



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 June 30, 2014, "Classified Loans and Other Risky Assets" of the Philippine Banks amounted to PhP 413.842 billion or more than 3 times the size of the Philippine Banking System's NPLs of PhP 119.321 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
June 30, 2014









Classified Loans NPL Classified Loans/NPL
Bank (In PHP) (In PHP) (In %)
BANK OF AMERICA N.A. 5,664,000.00 4.00 141600000.00%
INTERNATIONALE NEDERLANDEN GROEP BK 24,000,000.00 89.30 26875699.89%
BANK OF CHINA LIMITED-MANILA BRANCH 8,050,872,222.38 8,660,895.91 92956.58%
CITIBANK, N.A. 39,047,989,000.00 1,249,411,783.97 3125.31%
VILLAGE BANK INC (A THRIFT BANK) 604,200,353.47 21,234,993.83 2845.31%
KOREA EXCHANGE BANK 414,553,928.22 23,650,175.60 1752.86%
INTER-ASIA DEVELOPMENT BANK 138,846,451.86 8,594,208.64 1615.58%
BUSINESS AND CONSUMERS BANK (A DB) 226,069,612.01 15,865,917.33 1424.88%
BANK ONE SAVINGS AND TRUST CORP. 199,097,972.98 15,304,127.53 1300.94%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 1,092,048.97 1279.47%
BANK OF COMMERCE 28,940,752,164.13 2,910,449,718.05 994.37%
QUEZON COCONUT BANK INC (A THRIFT BANK) 15,076,442.58 2,197,241.35 686.15%
COMSAVINGS BANK 1,275,879,789.57 191,248,204.56 667.13%
SECURITY BANK CORP 7,002,000,000.00 1,113,417,377.10 628.87%
METROPOLITAN BANK & TCO 18,197,777,499.56 3,050,129,110.82 596.62%
BATAAN DEVELOPMENT BANK 102,400,000.00 17,242,964.32 593.87%
PHIL TRUST COMPANY 5,943,775,000.00 1,136,024,377.76 523.21%
PHILIPPINE VETERANS BANK 4,185,151,514.05 803,725,714.93 520.72%
ASIA UNITED BANK CORPORATION 5,182,890,635.11 1,000,233,421.51 518.17%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 36,993,882.52 505.08%
UCPB SAVINGS BANK 2,138,347,959.11 443,571,417.59 482.08%
RIZAL COMM'L BANKING CORP 9,858,204,696.42 2,151,334,878.51 458.24%
CORDILLERA SAVINGS BANK INC 76,498,696.60 17,061,634.00 448.37%
HSBC SAVINGS BANK(PHILS) INC 200,460,777.51 45,347,213.20 442.06%
PRIDE STAR DEVELOPMENT BANK INC 36,984,293.16 8,744,472.07 422.94%
PHIL NATIONAL BANK 44,309,845,254.28 10,658,942,086.40 415.71%
RCBC SAVINGS BANK INC 9,760,813,000.00 2,402,636,127.37 406.25%
UNIVERSITY SAVINGS BANK INC 104,986,236.97 28,825,541.35 364.21%
BDO UNIBANK INC 64,407,959,095.04 17,868,067,253.39 360.46%
PHIL SAVINGS BANK 12,949,090,343.87 3,594,733,281.93 360.22%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 5,789,807,611.16 349.32%
OPTIMUM DEVELOPMENT BANK INC 53,424,957.23 16,717,877.39 319.57%
ROBINSONS BANK CORPORATION 1,506,082,604.60 493,361,960.72 305.27%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,705,265,222.98 561,024,042.58 303.96%
CHINA BANKING CORP 12,595,174,805.30 4,241,788,759.14 296.93%
CENTURY SAVINGS BANK CORPORATION 99,955,283.46 36,286,160.53 275.46%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 109,291,897.50 40,938,529.63 266.97%
CHINA BANK SAVINGS INC 1,225,999,269.34 476,867,642.57 257.09%
UNION BANK OF THE PHILS 25,191,869,019.43 9,851,315,969.97 255.72%
TONGYANG SAVINGS BANK INC 276,444,405.08 110,617,410.43 249.91%
LEGAZPI SAVINGS BANK INC 852,505,000.00 343,109,718.52 248.46%
LAND BANK OF THE PHILIPPINES 17,430,656,599.22 7,513,826,163.99 231.98%
FARMERS SAVINGS & LOAN BANK INC 110,310,552.29 47,638,664.30 231.56%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,309,067,879.03 572,748,780.92 228.56%
BANK OF THE PHIL ISLANDS 18,320,244,381.57 8,291,551,975.99 220.95%
LIFE SAVINGS BANK INC 20,969,403.36 9,666,525.59 216.93%
MARITIME SAVINGS BANK CORPORATION 30,865,927.35 14,923,853.25 206.82%
DEVELOPMENT BANK OF THE PHIL 10,105,856,284.30 5,027,864,479.68 201.00%
SECURITY BANK SAVINGS CORPORATION 1,078,938,742.09 600,925,489.67 179.55%
PRODUCERS SAVINGS BANK CORPORATION 468,957,119.02 262,893,457.71 178.38%
METRO CEBU PUBLIC SAVINGS BANK 35,944,342.48 20,310,867.79 176.97%
BPI FAMILY SAVINGS BANK INC 8,296,654,848.67 4,762,753,021.27 174.20%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 1,427,778,000.00 858,715,671.59 166.27%
PLANTERS DEVELOPMENT BANK 5,817,674,659.09 3,510,296,829.98 165.73%
EAST WEST BANKING CORP 7,352,208,071.00 4,541,358,672.92 161.89%
FIRST CONSOLIDATED BANK INC (A PDB) 731,883,344.39 479,052,552.83 152.78%
HONGKONG & SHANGHAI BANKING CORP 1,957,802,041.42 1,284,388,818.19 152.43%
EQUICOM SAVINGS BANK INC 504,949,664.29 337,344,313.69 149.68%
PROGRESS SAVINGS AND LOAN BANK INC 1,764,039.58 1,217,809.04 144.85%
PHIL POSTAL SAVINGS BANK INC 651,963,876.36 450,558,007.83 144.70%
TOWER DEVELOPMENT BANK 18,001,101.37 12,448,940.29 144.60%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,085,632,000.00 770,221,304.39 140.95%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 129,977,029.12 93,194,418.99 139.47%
ANZ BANKING GROUP LTD 31,450,553.22 23,339,114.85 134.75%
BPI DIRECT SAVINGS BANK INC 159,021,755.69 118,877,307.16 133.77%
CITY SAVINGS BANK INC 396,404,543.34 310,401,587.69 127.71%
MAYBANK PHILIPPINES INC 1,704,391,244.47 1,378,051,563.58 123.68%
CTBC BANK (PHILIPPINES) CORP 474,406,157.53 383,611,264.60 123.67%
ALLIED SAVINGS BANK 580,161,947.80 500,152,913.46 116.00%
WORLD PARTNERS BANK (A THRIFT BANK) 179,831,010.40 156,140,300.23 115.17%
UNITED OVERSEAS BANK PHILIPPINES 762,246,799.61 665,371,386.65 114.56%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 30,802,406.22 28,622,510.92 107.62%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 44,254,205.99 107.10%
LUZON DEVELOPMENT BANK 207,652,427.57 205,386,492.11 101.10%
SAMPAGUITA SAVINGS BANK INC 26,803,825.97 26,518,966.62 101.07%
LEMERY SAVINGS & LOAN BANK, INC. 7,730,480.38 7,724,884.86 100.07%
BANGKOK BANK PUBLIC CO LTD 4,834,155.55 4,834,155.55 100.00%
BATAAN SAVINGS AND LOAN BANK 2,160,189.36 2,160,189.36 100.00%
HIYAS BANKING CORPORATION 21,202,761.24 21,202,761.24 100.00%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 734,885.22 100.00%
MALASIQUI PROGRESSIVE SLB, INC 19,257,920.25 19,257,920.25 100.00%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 62,793,100.02 62,793,100.02 100.00%
STANDARD CHARTERED BANK 2,639,750,910.62 2,695,618,727.90 97.93%
BPI GLOBE BANKO INC A SAVINGS BANK 324,383,105.81 380,810,052.97 85.18%
SUN SAVINGS BANK INC 6,476,529.05 7,929,099.28 81.68%
WEALTH DEVELOPMENT BANK CORPORATION 76,861,155.55 209,527,437.82 36.68%
PHIL BANK OF COMMUNICATIONS 351,793,140.52 1,301,109,960.55 27.04%
1ST VALLEY BANK INC A DEVELOPMENT BANK 0.00 229,969,316.89 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 25,092,689.59 0.00%
CITYSTATE SAVINGS BANK INC 0.00 117,088,935.20 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 83,558,761.35 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 4,917,002.76 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 2,775,600.08 0.00%
NORTHPOINT DEV'T BANK INC 0.00 37,886,142.07 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 2,030,877.00 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 13,679,793.00 0.00%
BDO ELITE SAVINGS BANK INC 0.00 0.00 NA
BDO PRIVATE BANK, INC. 709,747,747.91 0.00 NA
CITIBANK SAVINGS INC 0.00 0.00 NA
DEUTSCHE BANK AG 0.00 0.00 NA
ISLA BANK(A THRIFT BANK) INC 35,172,750.09 0.00 NA
MEGA INT'L COMM'L BANK CO LTD 649,125,176.54 0.00 NA
MIZUHO BANK LTD - MANILA BRANCH 1,137,822,181.32 0.00 NA
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 494,030.03 0.00 NA
Grand Total 413,842,712,786.97 119,321,906,373.17 346.83%

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 36.49% of the Php 1.137 trillion in Total Capital Cushion of Philippine Banks as of June 30, 2014.



Philippine Banking System
Classified Loans as % of Total Capital Cushion
June 30, 2014









Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion
Bank (In Php) (In Php) (In %)
LEGAZPI SAVINGS BANK INC 852,505,000.00 57,034,752.11 1494.71%
BANK OF CHINA LIMITED-MANILA BRANCH 8,050,872,222.38 704,034,474.62 1143.53%
COMSAVINGS BANK 1,275,879,789.57 137,864,070.41 925.46%
VILLAGE BANK INC (A THRIFT BANK) 604,200,353.47 87,862,534.12 687.67%
CITIBANK, N.A. 39,047,989,000.00 14,913,671,357.97 261.83%
BUSINESS AND CONSUMERS BANK (A DB) 226,069,612.01 87,458,878.55 258.49%
INTER-ASIA DEVELOPMENT BANK 138,846,451.86 57,921,470.27 239.71%
BANK OF COMMERCE 28,940,752,164.13 17,987,395,616.57 160.89%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 12,956,763,697.89 156.10%
PLANTERS DEVELOPMENT BANK 5,817,674,659.09 3,975,436,994.46 146.34%
BATAAN DEVELOPMENT BANK 102,400,000.00 80,756,947.34 126.80%
WORLD PARTNERS BANK (A THRIFT BANK) 179,831,010.40 154,633,855.61 116.29%
RCBC SAVINGS BANK INC 9,760,813,000.00 8,750,317,702.74 111.55%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,309,067,879.03 1,253,078,078.32 104.47%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,705,265,222.98 1,761,530,461.51 96.81%
FARMERS SAVINGS & LOAN BANK INC 110,310,552.29 129,210,553.97 85.37%
EQUICOM SAVINGS BANK INC 504,949,664.29 612,349,794.92 82.46%
STANDARD CHARTERED BANK 2,639,750,910.62 3,269,363,946.23 80.74%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 240,089,355.49 77.83%
KOREA EXCHANGE BANK 414,553,928.22 565,951,179.94 73.25%
SECURITY BANK SAVINGS CORPORATION 1,078,938,742.09 1,552,150,149.28 69.51%
PHIL SAVINGS BANK 12,949,090,343.87 19,158,912,759.22 67.59%
UCPB SAVINGS BANK 2,138,347,959.11 3,165,259,829.57 67.56%
CORDILLERA SAVINGS BANK INC 76,498,696.60 119,032,106.92 64.27%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 1,427,778,000.00 2,262,704,632.75 63.10%
PHILIPPINE VETERANS BANK 4,185,151,514.05 7,086,898,497.62 59.05%
CHINA BANK SAVINGS INC 1,225,999,269.34 2,124,395,159.80 57.71%
PHIL POSTAL SAVINGS BANK INC 651,963,876.36 1,135,894,948.71 57.40%
TONGYANG SAVINGS BANK INC 276,444,405.08 482,837,604.18 57.25%
BPI GLOBE BANKO INC A SAVINGS BANK 324,383,105.81 579,739,922.26 55.95%
METRO CEBU PUBLIC SAVINGS BANK 35,944,342.48 68,500,104.35 52.47%
ALLIED SAVINGS BANK 580,161,947.80 1,173,891,186.43 49.42%
PHIL NATIONAL BANK 44,309,845,254.28 90,402,280,458.89 49.01%
PRIDE STAR DEVELOPMENT BANK INC 36,984,293.16 76,005,235.62 48.66%
UNION BANK OF THE PHILS 25,191,869,019.43 56,453,541,993.22 44.62%
MARITIME SAVINGS BANK CORPORATION 30,865,927.35 73,663,715.42 41.90%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 62,793,100.02 150,326,877.03 41.77%
UNIVERSITY SAVINGS BANK INC 104,986,236.97 252,835,549.78 41.52%
UNITED OVERSEAS BANK PHILIPPINES 762,246,799.61 1,863,977,182.82 40.89%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 129,977,029.12 319,326,415.92 40.70%
PRODUCERS SAVINGS BANK CORPORATION 468,957,119.02 1,255,089,441.42 37.36%
MIZUHO BANK LTD - MANILA BRANCH 1,137,822,181.32 3,061,967,742.56 37.16%
BPI FAMILY SAVINGS BANK INC 8,296,654,848.67 22,335,159,249.08 37.15%
LUZON DEVELOPMENT BANK 207,652,427.57 568,666,340.78 36.52%
BANK ONE SAVINGS AND TRUST CORP. 199,097,972.98 551,822,853.16 36.08%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 135,617,522.94 34.95%
BDO UNIBANK INC 64,407,959,095.04 185,113,736,857.29 34.79%
SAMPAGUITA SAVINGS BANK INC 26,803,825.97 79,236,436.68 33.83%
EAST WEST BANKING CORP 7,352,208,071.00 22,185,115,642.78 33.14%
MEGA INT'L COMM'L BANK CO LTD 649,125,176.54 2,031,715,034.27 31.95%
MALASIQUI PROGRESSIVE SLB, INC 19,257,920.25 60,514,079.76 31.82%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 30,802,406.22 98,619,096.18 31.23%
LIFE SAVINGS BANK INC 20,969,403.36 68,913,232.15 30.43%
PHIL TRUST COMPANY 5,943,775,000.00 19,810,296,465.73 30.00%
HONGKONG & SHANGHAI BANKING CORP 1,957,802,041.42 6,647,695,302.00 29.45%
LAND BANK OF THE PHILIPPINES 17,430,656,599.22 61,389,487,367.85 28.39%
DEVELOPMENT BANK OF THE PHIL 10,105,856,284.30 39,386,837,772.48 25.66%
QUEZON COCONUT BANK INC (A THRIFT BANK) 15,076,442.58 59,572,110.23 25.31%
FIRST CONSOLIDATED BANK INC (A PDB) 731,883,344.39 2,956,857,588.95 24.75%
ASIA UNITED BANK CORPORATION 5,182,890,635.11 20,970,552,697.19 24.72%
ROBINSONS BANK CORPORATION 1,506,082,604.60 6,373,125,208.50 23.63%
CHINA BANKING CORP 12,595,174,805.30 55,639,545,754.45 22.64%
RIZAL COMM'L BANKING CORP 9,858,204,696.42 46,548,298,049.14 21.18%
WEALTH DEVELOPMENT BANK CORPORATION 76,861,155.55 462,106,341.85 16.63%
SECURITY BANK CORP 7,002,000,000.00 42,975,313,448.00 16.29%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 109,291,897.50 675,771,570.86 16.17%
MAYBANK PHILIPPINES INC 1,704,391,244.47 11,077,507,638.25 15.39%
TOWER DEVELOPMENT BANK 18,001,101.37 120,807,743.11 14.90%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,085,632,000.00 7,889,093,733.01 13.76%
METROPOLITAN BANK & TCO 18,197,777,499.56 132,768,144,739.17 13.71%
BPI DIRECT SAVINGS BANK INC 159,021,755.69 1,170,479,190.39 13.59%
BANK OF THE PHIL ISLANDS 18,320,244,381.57 137,181,836,314.78 13.35%
BDO PRIVATE BANK, INC. 709,747,747.91 5,493,294,777.13 12.92%
HIYAS BANKING CORPORATION 21,202,761.24 171,038,285.86 12.40%
CENTURY SAVINGS BANK CORPORATION 99,955,283.46 906,301,593.90 11.03%
LEMERY SAVINGS & LOAN BANK, INC. 7,730,480.38 75,312,525.58 10.26%
CITY SAVINGS BANK INC 396,404,543.34 4,635,738,401.67 8.55%
HSBC SAVINGS BANK(PHILS) INC 200,460,777.51 2,569,722,105.36 7.80%
OPTIMUM DEVELOPMENT BANK INC 53,424,957.23 762,678,258.50 7.00%
CTBC BANK (PHILIPPINES) CORP 474,406,157.53 6,924,626,850.04 6.85%
PHIL BANK OF COMMUNICATIONS 351,793,140.52 6,001,157,757.13 5.86%
SUN SAVINGS BANK INC 6,476,529.05 111,517,165.49 5.81%
ISLA BANK(A THRIFT BANK) INC 35,172,750.09 652,432,033.66 5.39%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 401,892,628.35 3.48%
BATAAN SAVINGS AND LOAN BANK 2,160,189.36 73,639,250.93 2.93%
PROGRESS SAVINGS AND LOAN BANK INC 1,764,039.58 83,299,361.10 2.12%
INTERNATIONALE NEDERLANDEN GROEP BK 24,000,000.00 2,551,036,210.20 0.94%
ANZ BANKING GROUP LTD 31,450,553.22 3,351,702,158.40 0.94%
BANK OF AMERICA N.A. 5,664,000.00 608,396,709.20 0.93%
BANGKOK BANK PUBLIC CO LTD 4,834,155.55 1,287,476,202.00 0.38%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,408,029,550.00 0.05%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 494,030.03 4,945,420,166.75 0.01%
1ST VALLEY BANK INC A DEVELOPMENT BANK 0.00 1,210,382,196.66 0.00%
BDO ELITE SAVINGS BANK INC 0.00 777,181,365.52 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 332,405,076.62 0.00%
CITIBANK SAVINGS INC 0.00 976,475,076.84 0.00%
CITYSTATE SAVINGS BANK INC 0.00 807,518,937.59 0.00%
DEUTSCHE BANK AG 0.00 1,448,134,826.54 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 248,684,560.67 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 493,523,295.99 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 46,084,119.30 0.00%
NORTHPOINT DEV'T BANK INC 0.00 100,391,211.90 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 78,434,891.14 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 37,033,985.35 0.00%
Grand Total 414,981,028,998.32 1,137,389,895,276.70 36.49%


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 36.49% 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 3.65% and a 50% write-off of classified loans will reduce the banking system's Total Capital Cushion by 18.24%.

Individual Banks

A 10% write-off of Classified Loans would wipe out two banks (highlighted in red) and severely impact (by 30% or more) the Total Capital Cushion of two other banks (severely affected banks highlighted in yellow).
  1. Legazpi Savings Bank (149.47% reduction in Total Capital Cushion)
  2. Bank of China Limited - Manila Branch (114.35% reduction in Total Capital Cushion)
  3. Comsavings Bank (92.55% reduction in Total Capital Cushion)
  4. Village Bank Inc. (68.77% reduction in Total Capital Cushion)

A 20% write-off of Classified Loans will totally wipe out the Total Capital Cushion of four banks and severely impact the Total Capital Cushion of five more banks:
  1. Legazpi Savings Bank (298.94% reduction in Total Capital Cushion)
  2. Bank of China Limited - Manila Branch (228.71% reduction in Total Capital Cushion)
  3. Comsavings Bank (185.09% reduction in Total Capital Cushion)
  4. Village SLA, Inc. (137.53% reduction in Total Capital Cushion)
  5. Citibank, N.A. (52.37% reduction in Total Capital Cushion)
  6. Business and Consumers Bank (51.70% reduction in Total Capital Cushion)
  7. Inter-Asia Development Bank (47.94% reduction in Total Capital Cushion)
  8. Bank of Commerce (32.18% reduction in Total Capital Cushion)
  9. United Coconut Planters Bank (31.22% 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. Legazpi Savings Bank (448.41% reduction in Total Capital Cushion)
  2. Bank of China Limited - Manila Branch (343.06% reduction in Total Capital Cushion)
  3. Comsavings Bank (277.64% reduction in Total Capital Cushion)
  4. Village SLA, Inc. (206.30% reduction in Total Capital Cushion)
  5. Citibank, N.A. (78.55% reduction in Total Capital Cushion)
  6. Business and Consumers Bank (77.55% reduction in Total Capital Cushion)
  7. Inter-Asia Development Bank (71.91% reduction in Total Capital Cushion)
  8. Bank of Commerce (48.27% reduction in Total Capital Cushion)
  9. United Coconut Planters Bank (46.83% reduction in Total Capital Cushion)
  10. Planters Development Bank (43.90% reduction in Total Capital Cushion)
  11. Bataan Development Bank (38.04% reduction in Total Capital Cushion)
  12. World Partners Bank (34.89% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (33.46% reduction in Total Capital Cushion)
  14. Malayan Bank Savings and Mortgage Bank Inc (31.34% reduction in Total Capital Cushion)

A 40% write-off of Classified Loans will totally wipe out the Total Capital Cushion of six banks and severely affect (reduce by 30% or more) the Total Capital Cushion of thirteen more banks:

  1. Legazpi Savings Bank (597.88% reduction in Total Capital Cushion)
  2. Bank of China Limited - Manila Branch (457.41% reduction in Total Capital Cushion)
  3. Comsavings Bank (370.18% reduction in Total Capital Cushion)
  4. Village SLA, Inc. (275.07% reduction in Total Capital Cushion)
  5. Citibank, N.A. (104.73% reduction in Total Capital Cushion)
  6. Business and Consumers Bank (103.39% reduction in Total Capital Cushion)
  7. Inter-Asia Development Bank (95.89% reduction in Total Capital Cushion)
  8. Bank of Commerce (64.36% reduction in Total Capital Cushion)
  9. United Coconut Planters Bank (62.44% reduction in Total Capital Cushion)
  10. Planters Development Bank (58.54% reduction in Total Capital Cushion)
  11. Bataan Development Bank (50.72% reduction in Total Capital Cushion)
  12. World Partners Bank (46.52% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (44.62% reduction in Total Capital Cushion)
  14. Malayan Bank Savings and Mortgage Bank Inc (41.79% reduction in Total Capital Cushion)
  15. Philippine Resources Savings Banking Corp (38.72% reduction in Total Capital Cushion)
  16. Farmers Savings & Loan Bank (34.15% reduction in Total Capital Cushion)
  17. Equicom Savings Bank Inc. (32.98% reduction in Total Capital Cushion)
  18. Standard Chartered Bank (32.30% reduction in Total Capital Cushion)
  19. Dumaguete City Development Bank Inc. (31.13% reduction in Total Capital Cushion)

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



  1. Legazpi Savings Bank (747.36% reduction in Total Capital Cushion)
  2. Bank of China Limited - Manila Branch (571.77% reduction in Total Capital Cushion)
  3. Comsavings Bank (462.73% reduction in Total Capital Cushion)
  4. Village SLA, Inc. (343.83% reduction in Total Capital Cushion)
  5. Citibank, N.A. (130.91% reduction in Total Capital Cushion)
  6. Business and Consumers Bank (129.24% reduction in Total Capital Cushion)
  7. Inter-Asia Development Bank (119.86% reduction in Total Capital Cushion)
  8. Bank of Commerce (80.45% reduction in Total Capital Cushion)
  9. United Coconut Planters Bank (78.05% reduction in Total Capital Cushion)
  10. Planters Development Bank (73.17% reduction in Total Capital Cushion)
  11. Bataan Development Bank (63.40% reduction in Total Capital Cushion)
  12. World Partners Bank (58.15% reduction in Total Capital Cushion)
  13. RCBC Savings Bank (55.77% reduction in Total Capital Cushion)
  14. Malayan Bank Savings and Mortgage Bank Inc (52.23% reduction in Total Capital Cushion)
  15. Philippine Resources Savings Banking Corp (48.40% reduction in Total Capital Cushion)
  16. Farmers Savings & Loan Bank (42.69% reduction in Total Capital Cushion)
  17. Equicom Savings Bank Inc. (41.23% reduction in Total Capital Cushion)
  18. Standard Chartered Bank (40.37% reduction in Total Capital Cushion)
  19. Dumaguete City Development Bank Inc. (38.91% reduction in Total Capital Cushion)
  20. Korea Exchange Bank (36.62% reduction in Total Capital Cushion)
  21. Security Bank Savings Corporation (34.76% reduction in Total Capital Cushion)
  22. Philippine Savings Bank (33.79% reduction in Total Capital Cushion)
  23. UCPB Savings Bank (33.78% reduction in Total Capital Cushion)
  24. Sterling Bank of Asia Inc (32.13% reduction in Total Capital Cushion)
  25. Philippine Veterans Bank (31.55% 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 June 30, 2014".  Moreover, their capital can be overstated.  See a previous blog post "Overstated Capital of Philippine Banks as of June 30, 2014".  As such, any reduction in their capital cushion could knock down an already weak bank.

Philippine Banking System
Impact Analysis of Classified Loan Loss Severities on Total Capital Cushion
June 30, 2014



















Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion Impact of 10% Classified Loan Loss Severity on Total Capital Cushion Impact of 20% Classified Loan Loss Severity on Total Capital Cushion Impact of 30% Classified Loan Loss Severity on Total Capital Cushion Impact of 40% Classified Loan Loss Severity on Total Capital Cushion Impact of 50% Classified Loan Loss Severity on Total Capital Cushion
Bank (In Php) (In Php) (In %) (In %) (In %) (In %) (In %) (In %)
LEGAZPI SAVINGS BANK INC 852,505,000.00 57,034,752.11 1494.71% 149.47% 298.94% 448.41% 597.88% 747.36%
BANK OF CHINA LIMITED-MANILA BRANCH 8,050,872,222.38 704,034,474.62 1143.53% 114.35% 228.71% 343.06% 457.41% 571.77%
COMSAVINGS BANK 1,275,879,789.57 137,864,070.41 925.46% 92.55% 185.09% 277.64% 370.18% 462.73%
VILLAGE BANK INC (A THRIFT BANK) 604,200,353.47 87,862,534.12 687.67% 68.77% 137.53% 206.30% 275.07% 343.83%
CITIBANK, N.A. 39,047,989,000.00 14,913,671,357.97 261.83% 26.18% 52.37% 78.55% 104.73% 130.91%
BUSINESS AND CONSUMERS BANK (A DB) 226,069,612.01 87,458,878.55 258.49% 25.85% 51.70% 77.55% 103.39% 129.24%
INTER-ASIA DEVELOPMENT BANK 138,846,451.86 57,921,470.27 239.71% 23.97% 47.94% 71.91% 95.89% 119.86%
BANK OF COMMERCE 28,940,752,164.13 17,987,395,616.57 160.89% 16.09% 32.18% 48.27% 64.36% 80.45%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 12,956,763,697.89 156.10% 15.61% 31.22% 46.83% 62.44% 78.05%
PLANTERS DEVELOPMENT BANK 5,817,674,659.09 3,975,436,994.46 146.34% 14.63% 29.27% 43.90% 58.54% 73.17%
BATAAN DEVELOPMENT BANK 102,400,000.00 80,756,947.34 126.80% 12.68% 25.36% 38.04% 50.72% 63.40%
WORLD PARTNERS BANK (A THRIFT BANK) 179,831,010.40 154,633,855.61 116.29% 11.63% 23.26% 34.89% 46.52% 58.15%
RCBC SAVINGS BANK INC 9,760,813,000.00 8,750,317,702.74 111.55% 11.15% 22.31% 33.46% 44.62% 55.77%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,309,067,879.03 1,253,078,078.32 104.47% 10.45% 20.89% 31.34% 41.79% 52.23%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,705,265,222.98 1,761,530,461.51 96.81% 9.68% 19.36% 29.04% 38.72% 48.40%
FARMERS SAVINGS & LOAN BANK INC 110,310,552.29 129,210,553.97 85.37% 8.54% 17.07% 25.61% 34.15% 42.69%
EQUICOM SAVINGS BANK INC 504,949,664.29 612,349,794.92 82.46% 8.25% 16.49% 24.74% 32.98% 41.23%
STANDARD CHARTERED BANK 2,639,750,910.62 3,269,363,946.23 80.74% 8.07% 16.15% 24.22% 32.30% 40.37%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 240,089,355.49 77.83% 7.78% 15.57% 23.35% 31.13% 38.91%
KOREA EXCHANGE BANK 414,553,928.22 565,951,179.94 73.25% 7.32% 14.65% 21.97% 29.30% 36.62%
SECURITY BANK SAVINGS CORPORATION 1,078,938,742.09 1,552,150,149.28 69.51% 6.95% 13.90% 20.85% 27.81% 34.76%
PHIL SAVINGS BANK 12,949,090,343.87 19,158,912,759.22 67.59% 6.76% 13.52% 20.28% 27.04% 33.79%
UCPB SAVINGS BANK 2,138,347,959.11 3,165,259,829.57 67.56% 6.76% 13.51% 20.27% 27.02% 33.78%
CORDILLERA SAVINGS BANK INC 76,498,696.60 119,032,106.92 64.27% 6.43% 12.85% 19.28% 25.71% 32.13%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 1,427,778,000.00 2,262,704,632.75 63.10% 6.31% 12.62% 18.93% 25.24% 31.55%
PHILIPPINE VETERANS BANK 4,185,151,514.05 7,086,898,497.62 59.05% 5.91% 11.81% 17.72% 23.62% 29.53%
CHINA BANK SAVINGS INC 1,225,999,269.34 2,124,395,159.80 57.71% 5.77% 11.54% 17.31% 23.08% 28.86%
PHIL POSTAL SAVINGS BANK INC 651,963,876.36 1,135,894,948.71 57.40% 5.74% 11.48% 17.22% 22.96% 28.70%
TONGYANG SAVINGS BANK INC 276,444,405.08 482,837,604.18 57.25% 5.73% 11.45% 17.18% 22.90% 28.63%
BPI GLOBE BANKO INC A SAVINGS BANK 324,383,105.81 579,739,922.26 55.95% 5.60% 11.19% 16.79% 22.38% 27.98%
METRO CEBU PUBLIC SAVINGS BANK 35,944,342.48 68,500,104.35 52.47% 5.25% 10.49% 15.74% 20.99% 26.24%
ALLIED SAVINGS BANK 580,161,947.80 1,173,891,186.43 49.42% 4.94% 9.88% 14.83% 19.77% 24.71%
PHIL NATIONAL BANK 44,309,845,254.28 90,402,280,458.89 49.01% 4.90% 9.80% 14.70% 19.61% 24.51%
PRIDE STAR DEVELOPMENT BANK INC 36,984,293.16 76,005,235.62 48.66% 4.87% 9.73% 14.60% 19.46% 24.33%
UNION BANK OF THE PHILS 25,191,869,019.43 56,453,541,993.22 44.62% 4.46% 8.92% 13.39% 17.85% 22.31%
MARITIME SAVINGS BANK CORPORATION 30,865,927.35 73,663,715.42 41.90% 4.19% 8.38% 12.57% 16.76% 20.95%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 62,793,100.02 150,326,877.03 41.77% 4.18% 8.35% 12.53% 16.71% 20.89%
UNIVERSITY SAVINGS BANK INC 104,986,236.97 252,835,549.78 41.52% 4.15% 8.30% 12.46% 16.61% 20.76%
UNITED OVERSEAS BANK PHILIPPINES 762,246,799.61 1,863,977,182.82 40.89% 4.09% 8.18% 12.27% 16.36% 20.45%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 129,977,029.12 319,326,415.92 40.70% 4.07% 8.14% 12.21% 16.28% 20.35%
PRODUCERS SAVINGS BANK CORPORATION 468,957,119.02 1,255,089,441.42 37.36% 3.74% 7.47% 11.21% 14.95% 18.68%
MIZUHO BANK LTD - MANILA BRANCH 1,137,822,181.32 3,061,967,742.56 37.16% 3.72% 7.43% 11.15% 14.86% 18.58%
BPI FAMILY SAVINGS BANK INC 8,296,654,848.67 22,335,159,249.08 37.15% 3.71% 7.43% 11.14% 14.86% 18.57%
LUZON DEVELOPMENT BANK 207,652,427.57 568,666,340.78 36.52% 3.65% 7.30% 10.95% 14.61% 18.26%
BANK ONE SAVINGS AND TRUST CORP. 199,097,972.98 551,822,853.16 36.08% 3.61% 7.22% 10.82% 14.43% 18.04%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 135,617,522.94 34.95% 3.49% 6.99% 10.48% 13.98% 17.47%
BDO UNIBANK INC 64,407,959,095.04 185,113,736,857.29 34.79% 3.48% 6.96% 10.44% 13.92% 17.40%
SAMPAGUITA SAVINGS BANK INC 26,803,825.97 79,236,436.68 33.83% 3.38% 6.77% 10.15% 13.53% 16.91%
EAST WEST BANKING CORP 7,352,208,071.00 22,185,115,642.78 33.14% 3.31% 6.63% 9.94% 13.26% 16.57%
MEGA INT'L COMM'L BANK CO LTD 649,125,176.54 2,031,715,034.27 31.95% 3.19% 6.39% 9.58% 12.78% 15.97%
MALASIQUI PROGRESSIVE SLB, INC 19,257,920.25 60,514,079.76 31.82% 3.18% 6.36% 9.55% 12.73% 15.91%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 30,802,406.22 98,619,096.18 31.23% 3.12% 6.25% 9.37% 12.49% 15.62%
LIFE SAVINGS BANK INC 20,969,403.36 68,913,232.15 30.43% 3.04% 6.09% 9.13% 12.17% 15.21%
PHIL TRUST COMPANY 5,943,775,000.00 19,810,296,465.73 30.00% 3.00% 6.00% 9.00% 12.00% 15.00%
HONGKONG & SHANGHAI BANKING CORP 1,957,802,041.42 6,647,695,302.00 29.45% 2.95% 5.89% 8.84% 11.78% 14.73%
LAND BANK OF THE PHILIPPINES 17,430,656,599.22 61,389,487,367.85 28.39% 2.84% 5.68% 8.52% 11.36% 14.20%
DEVELOPMENT BANK OF THE PHIL 10,105,856,284.30 39,386,837,772.48 25.66% 2.57% 5.13% 7.70% 10.26% 12.83%
QUEZON COCONUT BANK INC (A THRIFT BANK) 15,076,442.58 59,572,110.23 25.31% 2.53% 5.06% 7.59% 10.12% 12.65%
FIRST CONSOLIDATED BANK INC (A PDB) 731,883,344.39 2,956,857,588.95 24.75% 2.48% 4.95% 7.43% 9.90% 12.38%
ASIA UNITED BANK CORPORATION 5,182,890,635.11 20,970,552,697.19 24.72% 2.47% 4.94% 7.41% 9.89% 12.36%
ROBINSONS BANK CORPORATION 1,506,082,604.60 6,373,125,208.50 23.63% 2.36% 4.73% 7.09% 9.45% 11.82%
CHINA BANKING CORP 12,595,174,805.30 55,639,545,754.45 22.64% 2.26% 4.53% 6.79% 9.05% 11.32%
RIZAL COMM'L BANKING CORP 9,858,204,696.42 46,548,298,049.14 21.18% 2.12% 4.24% 6.35% 8.47% 10.59%
WEALTH DEVELOPMENT BANK CORPORATION 76,861,155.55 462,106,341.85 16.63% 1.66% 3.33% 4.99% 6.65% 8.32%
SECURITY BANK CORP 7,002,000,000.00 42,975,313,448.00 16.29% 1.63% 3.26% 4.89% 6.52% 8.15%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 109,291,897.50 675,771,570.86 16.17% 1.62% 3.23% 4.85% 6.47% 8.09%
MAYBANK PHILIPPINES INC 1,704,391,244.47 11,077,507,638.25 15.39% 1.54% 3.08% 4.62% 6.15% 7.69%
TOWER DEVELOPMENT BANK 18,001,101.37 120,807,743.11 14.90% 1.49% 2.98% 4.47% 5.96% 7.45%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,085,632,000.00 7,889,093,733.01 13.76% 1.38% 2.75% 4.13% 5.50% 6.88%
METROPOLITAN BANK & TCO 18,197,777,499.56 132,768,144,739.17 13.71% 1.37% 2.74% 4.11% 5.48% 6.85%
BPI DIRECT SAVINGS BANK INC 159,021,755.69 1,170,479,190.39 13.59% 1.36% 2.72% 4.08% 5.43% 6.79%
BANK OF THE PHIL ISLANDS 18,320,244,381.57 137,181,836,314.78 13.35% 1.34% 2.67% 4.01% 5.34% 6.68%
BDO PRIVATE BANK, INC. 709,747,747.91 5,493,294,777.13 12.92% 1.29% 2.58% 3.88% 5.17% 6.46%
HIYAS BANKING CORPORATION 21,202,761.24 171,038,285.86 12.40% 1.24% 2.48% 3.72% 4.96% 6.20%
CENTURY SAVINGS BANK CORPORATION 99,955,283.46 906,301,593.90 11.03% 1.10% 2.21% 3.31% 4.41% 5.51%
LEMERY SAVINGS & LOAN BANK, INC. 7,730,480.38 75,312,525.58 10.26% 1.03% 2.05% 3.08% 4.11% 5.13%
CITY SAVINGS BANK INC 396,404,543.34 4,635,738,401.67 8.55% 0.86% 1.71% 2.57% 3.42% 4.28%
HSBC SAVINGS BANK(PHILS) INC 200,460,777.51 2,569,722,105.36 7.80% 0.78% 1.56% 2.34% 3.12% 3.90%
OPTIMUM DEVELOPMENT BANK INC 53,424,957.23 762,678,258.50 7.00% 0.70% 1.40% 2.10% 2.80% 3.50%
CTBC BANK (PHILIPPINES) CORP 474,406,157.53 6,924,626,850.04 6.85% 0.69% 1.37% 2.06% 2.74% 3.43%
PHIL BANK OF COMMUNICATIONS 351,793,140.52 6,001,157,757.13 5.86% 0.59% 1.17% 1.76% 2.34% 2.93%
SUN SAVINGS BANK INC 6,476,529.05 111,517,165.49 5.81% 0.58% 1.16% 1.74% 2.32% 2.90%
ISLA BANK(A THRIFT BANK) INC 35,172,750.09 652,432,033.66 5.39% 0.54% 1.08% 1.62% 2.16% 2.70%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 401,892,628.35 3.48% 0.35% 0.70% 1.04% 1.39% 1.74%
BATAAN SAVINGS AND LOAN BANK 2,160,189.36 73,639,250.93 2.93% 0.29% 0.59% 0.88% 1.17% 1.47%
PROGRESS SAVINGS AND LOAN BANK INC 1,764,039.58 83,299,361.10 2.12% 0.21% 0.42% 0.64% 0.85% 1.06%
INTERNATIONALE NEDERLANDEN GROEP BK 24,000,000.00 2,551,036,210.20 0.94% 0.09% 0.19% 0.28% 0.38% 0.47%
ANZ BANKING GROUP LTD 31,450,553.22 3,351,702,158.40 0.94% 0.09% 0.19% 0.28% 0.38% 0.47%
BANK OF AMERICA N.A. 5,664,000.00 608,396,709.20 0.93% 0.09% 0.19% 0.28% 0.37% 0.47%
BANGKOK BANK PUBLIC CO LTD 4,834,155.55 1,287,476,202.00 0.38% 0.04% 0.08% 0.11% 0.15% 0.19%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,408,029,550.00 0.05% 0.01% 0.01% 0.02% 0.02% 0.03%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 494,030.03 4,945,420,166.75 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
1ST VALLEY BANK INC A DEVELOPMENT BANK 0.00 1,210,382,196.66 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BDO ELITE SAVINGS BANK INC 0.00 777,181,365.52 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 332,405,076.62 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CITIBANK SAVINGS INC 0.00 976,475,076.84 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CITYSTATE SAVINGS BANK INC 0.00 807,518,937.59 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
DEUTSCHE BANK AG 0.00 1,448,134,826.54 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 248,684,560.67 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 493,523,295.99 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 46,084,119.30 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NORTHPOINT DEV'T BANK INC 0.00 100,391,211.90 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 78,434,891.14 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 37,033,985.35 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Grand Total 414,981,028,998.32 1,137,389,895,276.70 36.49% 3.65% 7.30% 10.95% 14.59% 18.24%



Source: www.bsp.gov.ph
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