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Tuesday, December 22, 2015

A Simple Stress Test of Philippine Banks as of March 31, 2015

Editor's Note: This is an updated version of an earlier blog post "A Simple Stress Test of Philippine Banks as of December 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 Sytem whose asset base is tiny in comparison to the whole banking system (Php 218.298 billion or 1.98% of the Php 11,034.461 billion in assets held in the Philippine Banking System as of March 31, 2015).


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 124.668 billion or 10.37% of the PhP 1,202.021 billion in Stockholders Equity (SE) as of March 31, 2015.  So, writing off 50% of the Philippine Banks NPLs would reduce their aggregate stockholders equity by a little more than 5%.

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 March 31, 2015").

The stockholder's equity of one bank, Comsavings Bank would be completely wiped out.  Nine other banks would be severely affected.  These banks are: Opportunity Kauswagan Bank Inc (94.87% decline in SE),Legazpi Savings Bank (69.58% decline in SE),  World Partners Bank (67.58% decline in SE), Luzon Development Bank (46.84% decline in SE), BPI Globe Banko Inc (46.13% decline in SE), Bataan Development Bank (45.11% decline in SE), Planters Development Bank (42.76% decline in SE),  , Malayan Bank Savings and Mortgage Bank (33.94% decline in SE), Equicom Savings Bank Inc (31.66% decline in SE).

Philippine Banking System
NPL as % of SE
March 31, 2015









NPL SE NPL/SE
Bank (In PHP) (In PHP) (In %)
COMSAVINGS BANK 191,248,204.56 38,533,481.47 496.32%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 121,016,620.35 63,778,558.90 189.74%
LEGAZPI SAVINGS BANK INC 407,843,600.38 293,055,776.54 139.17%
WORLD PARTNERS BANK (A THRIFT BANK) 111,334,633.18 82,368,161.87 135.17%
LUZON DEVELOPMENT BANK 499,420,736.49 533,108,615.37 93.68%
BPI GLOBE BANKO INC A SAVINGS BANK 280,542,197.86 304,094,825.33 92.25%
BATAAN DEVELOPMENT BANK 64,582,515.58 71,577,676.61 90.23%
PLANTERS DEVELOPMENT BANK 3,189,663,230.00 3,729,311,188.88 85.53%
MALAYAN BANK SAVINGS AND MORT BANK INC 666,040,981.85 981,257,387.22 67.88%
EQUICOM SAVINGS BANK INC 428,713,287.42 677,023,616.17 63.32%
NORTHPOINT DEV'T BANK INC 116,923,465.35 199,063,075.93 58.74%
FARMERS SAVINGS & LOAN BANK INC 58,212,898.88 109,971,561.50 52.93%
UNITED OVERSEAS BANK PHILIPPINES 665,440,686.65 1,273,737,551.61 52.24%
MBANK PHILIPPINES (A THRIFT BANK) INC 36,806,758.28 74,305,893.14 49.53%
WEALTH DEVELOPMENT BANK CORPORATION 201,120,841.49 419,331,125.73 47.96%
ENTERPRISE BANK INC (A THRIFT BANK) 112,532,855.86 240,299,900.37 46.83%
PHIL POSTAL SAVINGS BANK INC 466,132,640.60 1,001,228,941.63 46.56%
THE PALAWAN BANK (PALAWAN DB) INC 15,194,656.19 32,902,950.23 46.18%
SECURITY BANK SAVINGS CORPORATION 512,338,894.46 1,143,033,718.34 44.82%
PAMPANGA DEVELOPMENT BANK 55,727,765.20 125,866,612.25 44.28%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 131,506,166.73 299,770,523.32 43.87%
SAMPAGUITA SAVINGS BANK INC 22,960,554.29 55,554,461.00 41.33%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 942,691,611.75 2,289,196,608.47 41.18%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 747,125,942.99 1,825,335,912.56 40.93%
STANDARD CHARTERED BANK 2,524,542,279.33 6,210,664,540.23 40.65%
1ST VALLEY BANK INC A DEVELOPMENT BANK 509,998,431.29 1,275,621,264.65 39.98%
METRO CEBU PUBLIC SAVINGS BANK 23,324,342.73 59,130,187.54 39.45%
EAST WEST BANKING CORP 7,353,959,721.22 21,215,170,074.44 34.66%
VILLAGE BANK INC (A THRIFT BANK) 24,358,134.33 73,972,492.58 32.93%
MARITIME SAVINGS BANK CORPORATION 21,163,052.88 65,172,179.44 32.47%
RCBC SAVINGS BANK INC 2,585,628,228.10 8,363,165,332.13 30.92%
TONGYANG SAVINGS BANK INC 114,796,354.04 379,798,977.17 30.23%
UNITED COCONUT PLANTERS BANK 5,746,724,166.55 19,493,624,037.54 29.48%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 27,617,113.51 93,838,745.83 29.43%
CHINA BANK SAVINGS INC 686,951,119.90 2,622,224,892.31 26.20%
PHIL SAVINGS BANK 4,336,921,235.15 16,832,958,884.31 25.76%
UCPB SAVINGS BANK 512,493,634.01 2,100,397,897.70 24.40%
CITIBANK, N.A. 2,889,108,388.18 12,991,673,871.97 22.24%
PHIL BANK OF COMMUNICATIONS 1,745,888,751.18 8,014,764,595.11 21.78%
BPI FAMILY SAVINGS BANK INC 4,921,476,831.19 22,825,999,302.20 21.56%
PRODUCERS SAVINGS BANK CORPORATION 268,795,613.94 1,343,324,173.35 20.01%
UNION BANK OF THE PHILS 9,877,599,202.32 52,694,139,745.70 18.75%
FIRST CONSOLIDATED BANK INC (A PDB) 560,207,876.49 2,990,242,435.53 18.73%
LIFE SAVINGS BANK INC 11,010,626.31 61,786,467.30 17.82%
INTER-ASIA DEVELOPMENT BANK 8,609,444.71 53,743,654.92 16.02%
MAYBANK PHILIPPINES INC 1,689,317,413.77 10,571,046,072.06 15.98%
BUSINESS AND CONSUMERS BANK (A DB) 13,382,405.13 85,687,284.77 15.62%
BANK OF COMMERCE 2,449,297,065.34 15,776,044,047.26 15.53%
CITYSTATE SAVINGS BANK INC 103,482,596.62 669,710,469.16 15.45%
DUMAGUETE CITY DEV BANK INC 36,126,106.59 237,118,540.08 15.24%
MALASIQUI PROGRESSIVE SLB, INC 7,772,843.25 54,222,334.73 14.34%
CORDILLERA SAVINGS BANK INC 16,205,747.70 114,530,107.35 14.15%
DEVELOPMENT BANK OF THE PHIL 5,863,437,846.65 41,661,819,296.39 14.07%
BPI DIRECT SAVINGS BANK INC 153,634,930.52 1,333,313,254.19 11.52%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 939,826,283.92 8,330,054,784.91 11.28%
PHILIPPINE VETERANS BANK 600,639,100.41 5,639,587,670.72 10.65%
SUN SAVINGS BANK INC 11,050,430.93 106,877,548.80 10.34%
ASIA UNITED BANK CORPORATION 2,084,924,543.46 20,392,480,454.52 10.22%
PHIL NATIONAL BANK 9,301,061,945.00 92,681,211,252.95 10.04%
HIYAS BANKING CORPORATION 16,450,205.95 165,015,624.56 9.97%
LAND BANK OF THE PHILIPPINES 6,945,870,220.09 72,468,514,725.69 9.58%
TOWER DEVELOPMENT BANK 11,153,590.50 118,197,886.79 9.44%
ROBINSONS BANK CORPORATION 558,006,486.11 6,148,932,630.66 9.07%
CITY SAVINGS BANK INC 594,760,597.21 6,554,464,780.82 9.07%
BDO UNIBANK INC 15,797,233,825.99 180,124,872,745.52 8.77%
CHINA BANKING CORP 4,648,856,616.84 53,356,950,652.26 8.71%
HONGKONG & SHANGHAI BANKING CORP 1,049,304,788.02 13,226,608,858.88 7.93%
BANK OF CHINA LIMITED-MANILA BRANCH 189,040,895.91 2,459,070,205.22 7.69%
BANK ONE SAVINGS AND TRUST CORP. 40,153,201.27 560,902,553.27 7.16%
CARD SME BANK INC A THRIFT BANK 32,736,348.30 464,160,148.68 7.05%
CTBC BANK (PHILIPPINES) CORP 440,792,982.95 6,597,930,236.45 6.68%
UNIVERSITY SAVINGS BANK INC 26,222,110.35 403,231,462.48 6.50%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 42,769,596.12 663,135,618.59 6.45%
PACIFIC ACE SAVINGS BANK INC 4,961,502.34 80,393,394.02 6.17%
PHIL STAR DEVELOPMENT BANK INC 4,656,148.72 76,909,453.54 6.05%
BANK OF THE PHIL ISLANDS 8,352,468,626.16 139,896,235,877.90 5.97%
LEMERY SAVINGS & LOAN BANK, INC. 4,348,037.52 74,143,290.88 5.86%
MICROFINANCE MAXIMUM SB INC 2,425,068.76 42,775,838.74 5.67%
PHIL TRUST COMPANY 1,106,060,633.65 24,845,721,383.49 4.45%
CENTURY SAVINGS BANK CORPORATION 36,771,150.94 938,321,162.21 3.92%
PNB SAVINGS BANK 427,188,228.75 11,123,280,436.26 3.84%
RIZAL COMM'L BANKING CORP 2,069,285,395.36 54,528,200,155.40 3.79%
HSBC SAVINGS BANK(PHILS) INC 81,930,694.58 2,176,142,509.96 3.76%
MEGA INT'L COMM'L BANK CO LTD 67,450,000.00 1,868,072,477.39 3.61%
QUEZON COCONUT BANK INC (A THRIFT BANK) 1,839,153.08 58,583,359.29 3.14%
OPTIMUM DEVELOPMENT BANK INC 22,988,260.92 751,388,533.95 3.06%
SECURITY BANK CORP 1,408,759,419.03 50,108,379,684.07 2.81%
BATAAN SAVINGS AND LOAN BANK 1,419,538.00 63,352,894.61 2.24%
MERCHANTS SAVINGS & LOAN ASSN INC 9,252,307.06 413,241,948.67 2.24%
KOREA EXCHANGE BANK 23,550,178.80 1,220,725,219.87 1.93%
METROPOLITAN BANK & TCO 2,551,456,717.49 145,841,362,014.27 1.75%
PROGRESS SAVINGS AND LOAN BANK INC 1,185,998.13 82,916,253.57 1.43%
ANZ BANKING GROUP LTD 23,339,114.85 4,515,688,133.41 0.52%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 1,092,048.97 363,703,278.76 0.30%
BANGKOK BANK PUBLIC CO LTD 4,714,155.55 3,095,660,443.74 0.15%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,378,790,422.84 0.05%
INTERNATIONALE NEDERLANDEN GROEP BK 91.40 2,496,181,851.31 0.00%
BANK OF AMERICA N.A. 4.00 2,096,061,205.20 0.00%
BDO ELITE SAVINGS BANK INC 0.00 806,678,920.20 0.00%
BDO PRIVATE BANK, INC. 0.00 5,875,974,686.81 0.00%
DEUTSCHE BANK AG 0.00 2,500,772,096.92 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 658,250,282.30 0.00%
MIZUHO BANK LTD - MANILA BRANCH 0.00 2,873,176,295.13 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,579,210,136.29 0.00%
Grand Total 124,667,684,377.93 1,202,021,106,765.15 10.37%


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, 2015, "Classified Loans and Other Risky Assets" of the Philippine Banks amounted to PhP 403.700 billion or more than 3 times the size of the Philippine Banking System's NPLs of PhP 124.668 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, 2015









Classified Loans NPL Classified Loans/NPL
Bank (In PHP) (In PHP) (In %)
BANK OF AMERICA N.A. 5,614,000.00 4.00 140350000.00%
INTERNATIONALE NEDERLANDEN GROEP BK 65,000,000.00 91.40 71115973.74%
BANK OF CHINA LIMITED-MANILA BRANCH 8,798,081,232.32 189,040,895.91 4654.06%
VILLAGE BANK INC (A THRIFT BANK) 612,819,397.29 24,358,134.33 2515.87%
KOREA EXCHANGE BANK 496,342,871.07 23,550,178.80 2107.60%
BUSINESS AND CONSUMERS BANK (A DB) 244,923,898.35 13,382,405.13 1830.19%
INTER-ASIA DEVELOPMENT BANK 154,181,672.81 8,609,444.71 1790.84%
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 2,449,297,065.34 1181.59%
MEGA INT'L COMM'L BANK CO LTD 752,996,067.20 67,450,000.00 1116.38%
PHIL STAR DEVELOPMENT BANK INC 45,948,036.48 4,656,148.72 986.82%
METROPOLITAN BANK & TCO 23,643,176,349.46 2,551,456,717.49 926.65%
QUEZON COCONUT BANK INC (A THRIFT BANK) 16,860,367.27 1,839,153.08 916.75%
CITIBANK, N.A. 26,152,414,000.00 2,889,108,388.18 905.21%
SECURITY BANK CORP 10,099,000,000.00 1,408,759,419.03 716.87%
COMSAVINGS BANK 1,275,879,789.57 191,248,204.56 667.13%
PHILIPPINE VETERANS BANK 3,759,760,117.83 600,639,100.41 625.96%
RIZAL COMM'L BANKING CORP 12,071,454,182.64 2,069,285,395.36 583.36%
TOWER DEVELOPMENT BANK 63,813,749.03 11,153,590.50 572.14%
BANK ONE SAVINGS AND TRUST CORP. 222,333,663.29 40,153,201.27 553.71%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 36,126,106.59 517.22%
OPTIMUM DEVELOPMENT BANK INC 118,237,414.61 22,988,260.92 514.34%
PHIL TRUST COMPANY 5,057,058,000.00 1,106,060,633.65 457.21%
PHIL NATIONAL BANK 40,360,427,887.88 9,301,061,945.00 433.93%
UCPB SAVINGS BANK 2,130,534,589.13 512,493,634.01 415.72%
CORDILLERA SAVINGS BANK INC 64,774,904.85 16,205,747.70 399.70%
UNIVERSITY SAVINGS BANK INC 102,606,770.77 26,222,110.35 391.30%
RCBC SAVINGS BANK INC 9,760,813,000.00 2,585,628,228.10 377.50%
BDO UNIBANK INC 58,212,737,471.63 15,797,233,825.99 368.50%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 5,746,724,166.55 351.94%
PHIL SAVINGS BANK 14,223,657,267.45 4,336,921,235.15 327.97%
CENTURY SAVINGS BANK CORPORATION 113,281,678.30 36,771,150.94 308.07%
UNION BANK OF THE PHILS 27,860,875,880.23 9,877,599,202.32 282.06%
ROBINSONS BANK CORPORATION 1,526,179,000.00 558,006,486.11 273.51%
LAND BANK OF THE PHILIPPINES 18,080,477,391.84 6,945,870,220.09 260.31%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 108,947,815.93 42,769,596.12 254.73%
HSBC SAVINGS BANK(PHILS) INC 202,277,279.15 81,930,694.58 246.89%
CHINA BANKING CORP 11,469,061,592.88 4,648,856,616.84 246.71%
LIFE SAVINGS BANK INC 25,275,027.40 11,010,626.31 229.55%
PRODUCERS SAVINGS BANK CORPORATION 595,396,826.60 268,795,613.94 221.51%
METRO CEBU PUBLIC SAVINGS BANK 51,276,007.91 23,324,342.73 219.84%
ASIA UNITED BANK CORPORATION 4,561,086,107.31 2,084,924,543.46 218.77%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 2,046,671,000.00 942,691,611.75 217.11%
TONGYANG SAVINGS BANK INC 244,334,293.64 114,796,354.04 212.84%
BANK OF THE PHIL ISLANDS 17,656,476,765.61 8,352,468,626.16 211.39%
LEGAZPI SAVINGS BANK INC 852,505,000.00 407,843,600.38 209.03%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,375,273,712.12 666,040,981.85 206.48%
FARMERS SAVINGS & LOAN BANK INC 117,847,578.42 58,212,898.88 202.44%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,444,161,897.52 747,125,942.99 193.30%
BPI FAMILY SAVINGS BANK INC 9,184,790,080.93 4,921,476,831.19 186.63%
CHINA BANK SAVINGS INC 1,250,520,366.42 686,951,119.90 182.04%
BATAAN DEVELOPMENT BANK 102,400,000.00 64,582,515.58 158.56%
MARITIME SAVINGS BANK CORPORATION 33,435,676.93 21,163,052.88 157.99%
PLANTERS DEVELOPMENT BANK 4,971,179,292.24 3,189,663,230.00 155.85%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,455,126,000.00 939,826,283.92 154.83%
PHIL POSTAL SAVINGS BANK INC 671,766,952.51 466,132,640.60 144.11%
FIRST CONSOLIDATED BANK INC (A PDB) 769,901,672.97 560,207,876.49 137.43%
DEVELOPMENT BANK OF THE PHIL 8,044,354,493.36 5,863,437,846.65 137.20%
EQUICOM SAVINGS BANK INC 576,440,514.35 428,713,287.42 134.46%
PNB SAVINGS BANK 558,290,160.54 427,188,228.75 130.69%
LEMERY SAVINGS & LOAN BANK, INC. 5,650,057.09 4,348,037.52 129.94%
ANZ BANKING GROUP LTD 29,593,661.02 23,339,114.85 126.80%
1ST VALLEY BANK INC A DEVELOPMENT BANK 642,031,207.19 509,998,431.29 125.89%
CITY SAVINGS BANK INC 747,703,695.60 594,760,597.21 125.72%
SECURITY BANK SAVINGS CORPORATION 641,563,634.22 512,338,894.46 125.22%
CTBC BANK (PHILIPPINES) CORP 538,724,227.33 440,792,982.95 122.22%
BPI DIRECT SAVINGS BANK INC 185,550,281.49 153,634,930.52 120.77%
WORLD PARTNERS BANK (A THRIFT BANK) 133,857,505.43 111,334,633.18 120.23%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 33,195,886.30 27,617,113.51 120.20%
MAYBANK PHILIPPINES INC 1,998,643,368.58 1,689,317,413.77 118.31%
UNITED OVERSEAS BANK PHILIPPINES 768,339,948.28 665,440,686.65 115.46%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 150,105,993.24 131,506,166.73 114.14%
BPI GLOBE BANKO INC A SAVINGS BANK 301,879,149.82 280,542,197.86 107.61%
STANDARD CHARTERED BANK 2,712,571,038.84 2,524,542,279.33 107.45%
PROGRESS SAVINGS AND LOAN BANK INC 1,258,979.13 1,185,998.13 106.15%
SAMPAGUITA SAVINGS BANK INC 23,876,821.97 22,960,554.29 103.99%
BANGKOK BANK PUBLIC CO LTD 4,714,155.55 4,714,155.55 100.00%
BATAAN SAVINGS AND LOAN BANK 1,419,538.00 1,419,538.00 100.00%
HIYAS BANKING CORPORATION 16,450,205.95 16,450,205.95 100.00%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 734,885.22 100.00%
MALASIQUI PROGRESSIVE SLB, INC 7,772,843.25 7,772,843.25 100.00%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 121,016,620.35 121,016,620.35 100.00%
EAST WEST BANKING CORP 7,352,208,071.00 7,353,959,721.22 99.98%
SUN SAVINGS BANK INC 10,746,159.69 11,050,430.93 97.25%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 55,727,765.20 85.05%
HONGKONG & SHANGHAI BANKING CORP 744,434,370.37 1,049,304,788.02 70.95%
LUZON DEVELOPMENT BANK 342,223,917.09 499,420,736.49 68.52%
WEALTH DEVELOPMENT BANK CORPORATION 77,899,031.54 201,120,841.49 38.73%
PHIL BANK OF COMMUNICATIONS 31,102,717.11 1,745,888,751.18 1.78%
CARD SME BANK INC A THRIFT BANK 0.00 32,736,348.30 0.00%
CITYSTATE SAVINGS BANK INC 0.00 103,482,596.62 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 112,532,855.86 0.00%
MBANK PHILIPPINES (A THRIFT BANK) INC 0.00 36,806,758.28 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 9,252,307.06 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 2,425,068.76 0.00%
NORTHPOINT DEV'T BANK INC 0.00 116,923,465.35 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 4,961,502.34 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 15,194,656.19 0.00%
BDO ELITE SAVINGS BANK INC 0.00 0.00 NA
BDO PRIVATE BANK, INC. 709,747,747.91 0.00 NA
DEUTSCHE BANK AG 1,068,823,098.34 0.00 NA
ISLA BANK(A THRIFT BANK) INC 0.00 0.00 NA
MIZUHO BANK LTD - MANILA BRANCH 421,990,399.91 0.00 NA
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 0.00 NA
Grand Total 403,700,854,944.22 124,667,684,377.93 323.82%



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 31.42% of the Php 1.284.657 trillion in Total Capital Cushion of Philippine Banks as of March 31, 2015.


Philippine Banking System
Classified Loans as % of Total Capital Cushion
December 31, 2014









Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion
Bank (In Php) (In Php) (In %)
COMSAVINGS BANK 1,275,879,789.57 2,040,620.46 62524.11%
LEGAZPI SAVINGS BANK INC 852,505,000.00 71,668,890.19 1189.50%
VILLAGE BANK INC (A THRIFT BANK) 612,819,397.29 91,330,174.05 670.99%
BANK OF CHINA LIMITED-MANILA BRANCH 8,798,081,232.32 2,621,331,502.11 335.63%
BUSINESS AND CONSUMERS BANK (A DB) 244,923,898.35 91,656,352.27 267.22%
INTER-ASIA DEVELOPMENT BANK 154,181,672.81 60,943,659.80 252.99%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 12,029,067,773.11 168.13%
PLANTERS DEVELOPMENT BANK 4,971,179,292.24 3,105,561,377.23 160.07%
BANK OF COMMERCE 28,940,752,164.13 18,295,365,969.21 158.19%
CITIBANK, N.A. 26,152,414,000.00 20,692,983,956.61 126.38%
BATAAN DEVELOPMENT BANK 102,400,000.00 84,304,826.74 121.46%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,375,273,712.12 1,279,482,144.80 107.49%
WORLD PARTNERS BANK (A THRIFT BANK) 133,857,505.43 132,927,437.25 100.70%
RCBC SAVINGS BANK INC 9,760,813,000.00 9,825,342,006.76 99.34%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 121,016,620.35 121,973,635.48 99.22%
BPI GLOBE BANKO INC A SAVINGS BANK 301,879,149.82 317,502,753.38 95.08%
FARMERS SAVINGS & LOAN BANK INC 117,847,578.42 134,827,515.80 87.41%
UCPB SAVINGS BANK 2,130,534,589.13 2,538,952,565.15 83.91%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 239,322,684.57 78.07%
EQUICOM SAVINGS BANK INC 576,440,514.35 768,259,083.16 75.03%
METRO CEBU PUBLIC SAVINGS BANK 51,276,007.91 69,920,459.96 73.33%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 2,046,671,000.00 2,876,685,571.45 71.15%
PHIL SAVINGS BANK 14,223,657,267.45 20,931,580,838.52 67.95%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,444,161,897.52 2,198,216,834.13 65.70%
PHIL STAR DEVELOPMENT BANK INC 45,948,036.48 81,973,833.05 56.05%
LUZON DEVELOPMENT BANK 342,223,917.09 620,410,762.14 55.16%
TOWER DEVELOPMENT BANK 63,813,749.03 120,204,213.56 53.09%
CORDILLERA SAVINGS BANK INC 64,774,904.85 123,366,087.49 52.51%
TONGYANG SAVINGS BANK INC 244,334,293.64 474,040,690.72 51.54%
PHILIPPINE VETERANS BANK 3,759,760,117.83 7,305,012,418.21 51.47%
PHIL POSTAL SAVINGS BANK INC 671,766,952.51 1,351,665,525.19 49.70%
DEUTSCHE BANK AG 1,068,823,098.34 2,215,707,540.15 48.24%
MARITIME SAVINGS BANK CORPORATION 33,435,676.93 70,668,699.12 47.31%
1ST VALLEY BANK INC A DEVELOPMENT BANK 642,031,207.19 1,368,109,523.21 46.93%
UNION BANK OF THE PHILS 27,860,875,880.23 62,677,961,656.73 44.45%
CHINA BANK SAVINGS INC 1,250,520,366.42 2,843,349,806.94 43.98%
PRODUCERS SAVINGS BANK CORPORATION 595,396,826.60 1,381,963,385.45 43.08%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 150,105,993.24 357,335,617.45 42.01%
UNITED OVERSEAS BANK PHILIPPINES 768,339,948.28 1,843,819,010.39 41.67%
SECURITY BANK SAVINGS CORPORATION 641,563,634.22 1,588,413,414.97 40.39%
LIFE SAVINGS BANK INC 25,275,027.40 63,924,870.67 39.54%
BANK ONE SAVINGS AND TRUST CORP. 222,333,663.29 566,887,909.10 39.22%
PHIL NATIONAL BANK 40,360,427,887.88 104,068,094,437.47 38.78%
KOREA EXCHANGE BANK 496,342,871.07 1,284,097,972.17 38.65%
UNIVERSITY SAVINGS BANK INC 102,606,770.77 272,320,975.70 37.68%
MEGA INT'L COMM'L BANK CO LTD 752,996,067.20 2,040,085,431.57 36.91%
STANDARD CHARTERED BANK 2,712,571,038.84 8,024,888,405.68 33.80%
BPI FAMILY SAVINGS BANK INC 9,184,790,080.93 27,240,230,883.49 33.72%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 144,154,031.58 32.88%
SAMPAGUITA SAVINGS BANK INC 23,876,821.97 75,446,427.87 31.65%
EAST WEST BANKING CORP 7,352,208,071.00 24,078,038,495.54 30.53%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 33,195,886.30 112,885,626.05 29.41%
QUEZON COCONUT BANK INC (A THRIFT BANK) 16,860,367.27 57,413,595.52 29.37%
BDO UNIBANK INC 58,212,737,471.63 202,744,632,642.70 28.71%
LAND BANK OF THE PHILIPPINES 18,080,477,391.84 66,913,719,817.48 27.02%
PHIL TRUST COMPANY 5,057,058,000.00 20,953,818,006.85 24.13%
RIZAL COMM'L BANKING CORP 12,071,454,182.64 51,389,247,292.97 23.49%
FIRST CONSOLIDATED BANK INC (A PDB) 769,901,672.97 3,416,484,504.09 22.53%
ROBINSONS BANK CORPORATION 1,526,179,000.00 7,079,978,934.78 21.56%
SECURITY BANK CORP 10,099,000,000.00 49,978,057,265.47 20.21%
ASIA UNITED BANK CORPORATION 4,561,086,107.31 22,657,108,060.23 20.13%
DEVELOPMENT BANK OF THE PHIL 8,044,354,493.36 40,570,661,092.37 19.83%
CHINA BANKING CORP 11,469,061,592.88 58,267,596,506.47 19.68%
MAYBANK PHILIPPINES INC 1,998,643,368.58 11,690,151,577.28 17.10%
WEALTH DEVELOPMENT BANK CORPORATION 77,899,031.54 480,371,548.58 16.22%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 108,947,815.93 681,272,956.48 15.99%
METROPOLITAN BANK & TCO 23,643,176,349.46 150,010,488,374.17 15.76%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,455,126,000.00 9,511,588,637.10 15.30%
OPTIMUM DEVELOPMENT BANK INC 118,237,414.61 792,442,288.34 14.92%
MIZUHO BANK LTD - MANILA BRANCH 421,990,399.91 3,029,984,154.78 13.93%
MALASIQUI PROGRESSIVE SLB, INC 7,772,843.25 60,982,462.80 12.75%
BDO PRIVATE BANK, INC. 709,747,747.91 5,591,591,534.13 12.69%
BPI DIRECT SAVINGS BANK INC 185,550,281.49 1,466,739,963.04 12.65%
CENTURY SAVINGS BANK CORPORATION 113,281,678.30 924,062,339.47 12.26%
BANK OF THE PHIL ISLANDS 17,656,476,765.61 151,829,400,490.84 11.63%
CITY SAVINGS BANK INC 747,703,695.60 6,668,601,929.63 11.21%
HIYAS BANKING CORPORATION 16,450,205.95 170,639,794.32 9.64%
SUN SAVINGS BANK INC 10,746,159.69 114,082,540.17 9.42%
HSBC SAVINGS BANK(PHILS) INC 202,277,279.15 2,219,306,698.17 9.11%
CTBC BANK (PHILIPPINES) CORP 538,724,227.33 6,959,986,711.28 7.74%
LEMERY SAVINGS & LOAN BANK, INC. 5,650,057.09 74,923,548.33 7.54%
HONGKONG & SHANGHAI BANKING CORP 744,434,370.37 14,022,338,639.35 5.31%
PNB SAVINGS BANK 558,290,160.54 11,257,557,062.46 4.96%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 376,601,564.39 3.71%
INTERNATIONALE NEDERLANDEN GROEP BK 65,000,000.00 2,622,846,326.92 2.48%
BATAAN SAVINGS AND LOAN BANK 1,419,538.00 64,296,764.51 2.21%
PROGRESS SAVINGS AND LOAN BANK INC 1,258,979.13 83,794,739.22 1.50%
ANZ BANKING GROUP LTD 29,593,661.02 4,523,125,543.65 0.65%
PHIL BANK OF COMMUNICATIONS 31,102,717.11 7,910,385,394.08 0.39%
BANK OF AMERICA N.A. 5,614,000.00 2,116,461,209.20 0.27%
BANGKOK BANK PUBLIC CO LTD 4,714,155.55 3,314,810,827.00 0.14%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,407,968,061.99 0.05%
BDO ELITE SAVINGS BANK INC 0.00 1,583,649,281.18 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 469,126,734.21 0.00%
CITYSTATE SAVINGS BANK INC 0.00 724,795,838.45 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 296,449,412.77 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 661,796,405.99 0.00%
MBANK PHILIPPINES (A THRIFT BANK) INC 0.00 123,726,994.24 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 427,197,144.35 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 54,462,098.70 0.00%
NORTHPOINT DEV'T BANK INC 0.00 243,988,192.87 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 82,900,536.82 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,962,920,166.75 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 44,159,244.35 0.00%
Grand Total 403,700,854,944.22 1,284,656,999,735.14 31.42%

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 31.42% 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 3.14% and a 50% write-off of classified loans will reduce the banking system's Total Capital Cushion by 15.71%.

Individual Banks

A 10% write-off of Classified Loans would wipe out the capital of 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. Comsavings Bank (6252.41% reduction in Total Capital Cushion)
  2. Legazpi Savings Bank (118.95% reduction in Total Capital Cushion)
  3. Village Bank Inc. (67.10% reduction in Total Capital Cushion)
  4. Bank of China Limited - Manila Branch (33.56% reduction in Total Capital Cushion)

A 20% write-off of Classified Loans will totally wipe out the Total Capital Cushion of three banks and severely impact the Total Capital Cushion of six more banks:

  1. Comsavings Bank (12504.82% reduction in Total Capital Cushion)
  2. Legazpi Savings Bank (237.90% reduction in Total Capital Cushion)
  3. Village Bank Inc. (134.20% reduction in Total Capital Cushion)
  4. Bank of China Limited - Manila Branch (67.13% reduction in Total Capital Cushion)
  5. Business and Consumers Bank (53.44% reduction in Total Capital Cushion)
  6. Inter-Asia Development Bank (50.60% reduction in Total Capital Cushion)
  7. United Coconut Planters Bank (33.63% reduction in Total Capital Cushion)
  8. Planters Development Bank (32.01% reduction in Total Capital Cushion)
  9. Bank of Commerce (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 nine other banks:


  1. Comsavings Bank (18757.23% reduction in Total Capital Cushion)
  2. Legazpi Savings Bank (356.85% reduction in Total Capital Cushion)
  3. Village Bank Inc. (201.30% reduction in Total Capital Cushion)
  4. Bank of China Limited - Manila Branch (100.69% reduction in Total Capital Cushion)
  5. Business and Consumers Bank (80.17% reduction in Total Capital Cushion)
  6. Inter-Asia Development Bank (75.90% reduction in Total Capital Cushion)
  7. United Coconut Planters Bank (50.44% reduction in Total Capital Cushion)
  8. Planters Development Bank (48.02% reduction in Total Capital Cushion)
  9. Bank of Commerce (47.46% reduction in Total Capital Cushion)
  10. Citibank, N.A. (37.91% reduction in Total Capital Cushion)
  11. Bataan Development Bank (36.44% reduction in Total Capital Cushion)
  12. Malayan Bank Savings and Mortgage Bank Inc (32.25% reduction in Total Capital Cushion)
  13. World Partners Bank (30.21% 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 fourteen more banks:

  1. Comsavings Bank (25009% reduction in Total Capital Cushion)
  2. Legazpi Savings Bank (475.80% reduction in Total Capital Cushion)
  3. Village Bank Inc. (268.40% reduction in Total Capital Cushion)
  4. Bank of China Limited - Manila Branch (134.25% reduction in Total Capital Cushion)
  5. Business and Consumers Bank (106.89% reduction in Total Capital Cushion)
  6. Inter-Asia Development Bank (101.20% reduction in Total Capital Cushion)
  7. United Coconut Planters Bank (67.25% reduction in Total Capital Cushion)
  8. Planters Development Bank (64.03% reduction in Total Capital Cushion)
  9. Bank of Commerce (63.27% reduction in Total Capital Cushion)
  10. Citibank, N.A. (50.55% reduction in Total Capital Cushion)
  11. Bataan Development Bank (48.59% reduction in Total Capital Cushion)
  12. Malayan Bank Savings and Mortgage Bank Inc (42.99% reduction in Total Capital Cushion)
  13. World Partners Bank (40.28% reduction in Total Capital Cushion)
  14. RCBC Savings Bank (39.74% reduction in Total Capital Cushion)
  15. Opportunity Kauswagan Bank Inc (39.69% reduction in Total Capital Cushion)
  16. BPI Globe Banko Inc (38.03% reduction in Total Capital Cushion)
  17. Farmers Savings & Loan Bank (34.96% reduction in Total Capital Cushion)
  18. UCPB Savings Bank (33.57% reduction in Total Capital Cushion)
  19. Dumaguete City Development Bank Inc. (31.23% reduction in Total Capital Cushion)
  20. Equicom Savings Bank (30.01% reduction in Total Capital Cushion)

A 50% 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 eighteen more banks:
  1. Comsavings Bank (31,262.06% reduction in Total Capital Cushion)
  2. Legazpi Savings Bank (594.75% reduction in Total Capital Cushion)
  3. Village Bank Inc. (335.50% reduction in Total Capital Cushion)
  4. Bank of China Limited - Manila Branch (167.82% reduction in Total Capital Cushion)
  5. Business and Consumers Bank (133.61% reduction in Total Capital Cushion)
  6. Inter-Asia Development Bank (126.50% reduction in Total Capital Cushion)
  7. United Coconut Planters Bank (84.07% reduction in Total Capital Cushion)
  8. Planters Development Bank (80.04% reduction in Total Capital Cushion)
  9. Bank of Commerce (79.09% reduction in Total Capital Cushion)
  10. Citibank, N.A. (63.19% reduction in Total Capital Cushion)
  11. Bataan Development Bank (60.73% reduction in Total Capital Cushion)
  12. Malayan Bank Savings and Mortgage Bank Inc (53.74% reduction in Total Capital Cushion)
  13. World Partners Bank (50.35% reduction in Total Capital Cushion)
  14. RCBC Savings Bank (49.67% reduction in Total Capital Cushion)
  15. Opportunity Kauswagan Bank Inc (49.61% reduction in Total Capital Cushion)
  16. BPI Globe Banko Inc (47.54% reduction in Total Capital Cushion)
  17. Farmers Savings & Loan Bank (43.70% reduction in Total Capital Cushion)
  18. UCPB Savings Bank (41.96% reduction in Total Capital Cushion)
  19. Dumaguete City Development Bank Inc. (39.04% reduction in Total Capital Cushion)
  20. Equicom Savings Bank (37.52% reduction in Total Capital Cushion)
  21. Metro Cebu Public Savings Bank (36.67% reduction in Total Capital Cushion)
  22. Sterling Bank of Asia Inc (35.57% reduction in Total Capital Cushion)
  23. Philippine Savings Bank (33.98% reduction in Total Capital Cushion)
  24. Philippine Resources Savings Banking Corporation (32.85% 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, 2015".  Moreover, their capital can be overstated.  See a previous blog post "Overstated Capital of Philippine Banks as of March 31, 2015".  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
March 31, 2015



















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 %)
COMSAVINGS BANK 1,275,879,789.57 2,040,620.46 62524.11% 6252.41% 12504.82% 18757.23% 25009.64% 31262.06%
LEGAZPI SAVINGS BANK INC 852,505,000.00 71,668,890.19 1189.50% 118.95% 237.90% 356.85% 475.80% 594.75%
VILLAGE BANK INC (A THRIFT BANK) 612,819,397.29 91,330,174.05 670.99% 67.10% 134.20% 201.30% 268.40% 335.50%
BANK OF CHINA LIMITED-MANILA BRANCH 8,798,081,232.32 2,621,331,502.11 335.63% 33.56% 67.13% 100.69% 134.25% 167.82%
BUSINESS AND CONSUMERS BANK (A DB) 244,923,898.35 91,656,352.27 267.22% 26.72% 53.44% 80.17% 106.89% 133.61%
INTER-ASIA DEVELOPMENT BANK 154,181,672.81 60,943,659.80 252.99% 25.30% 50.60% 75.90% 101.20% 126.50%
UNITED COCONUT PLANTERS BANK 20,225,000,000.00 12,029,067,773.11 168.13% 16.81% 33.63% 50.44% 67.25% 84.07%
PLANTERS DEVELOPMENT BANK 4,971,179,292.24 3,105,561,377.23 160.07% 16.01% 32.01% 48.02% 64.03% 80.04%
BANK OF COMMERCE 28,940,752,164.13 18,295,365,969.21 158.19% 15.82% 31.64% 47.46% 63.27% 79.09%
CITIBANK, N.A. 26,152,414,000.00 20,692,983,956.61 126.38% 12.64% 25.28% 37.91% 50.55% 63.19%
BATAAN DEVELOPMENT BANK 102,400,000.00 84,304,826.74 121.46% 12.15% 24.29% 36.44% 48.59% 60.73%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,375,273,712.12 1,279,482,144.80 107.49% 10.75% 21.50% 32.25% 42.99% 53.74%
WORLD PARTNERS BANK (A THRIFT BANK) 133,857,505.43 132,927,437.25 100.70% 10.07% 20.14% 30.21% 40.28% 50.35%
RCBC SAVINGS BANK INC 9,760,813,000.00 9,825,342,006.76 99.34% 9.93% 19.87% 29.80% 39.74% 49.67%
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK) 121,016,620.35 121,973,635.48 99.22% 9.92% 19.84% 29.76% 39.69% 49.61%
BPI GLOBE BANKO INC A SAVINGS BANK 301,879,149.82 317,502,753.38 95.08% 9.51% 19.02% 28.52% 38.03% 47.54%
FARMERS SAVINGS & LOAN BANK INC 117,847,578.42 134,827,515.80 87.41% 8.74% 17.48% 26.22% 34.96% 43.70%
UCPB SAVINGS BANK 2,130,534,589.13 2,538,952,565.15 83.91% 8.39% 16.78% 25.17% 33.57% 41.96%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 239,322,684.57 78.07% 7.81% 15.61% 23.42% 31.23% 39.04%
EQUICOM SAVINGS BANK INC 576,440,514.35 768,259,083.16 75.03% 7.50% 15.01% 22.51% 30.01% 37.52%
METRO CEBU PUBLIC SAVINGS BANK 51,276,007.91 69,920,459.96 73.33% 7.33% 14.67% 22.00% 29.33% 36.67%
STERLING BANK OF ASIA INC (A SAVINGS BANK) 2,046,671,000.00 2,876,685,571.45 71.15% 7.11% 14.23% 21.34% 28.46% 35.57%
PHIL SAVINGS BANK 14,223,657,267.45 20,931,580,838.52 67.95% 6.80% 13.59% 20.39% 27.18% 33.98%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS 1,444,161,897.52 2,198,216,834.13 65.70% 6.57% 13.14% 19.71% 26.28% 32.85%
PHIL STAR DEVELOPMENT BANK INC 45,948,036.48 81,973,833.05 56.05% 5.61% 11.21% 16.82% 22.42% 28.03%
LUZON DEVELOPMENT BANK 342,223,917.09 620,410,762.14 55.16% 5.52% 11.03% 16.55% 22.06% 27.58%
TOWER DEVELOPMENT BANK 63,813,749.03 120,204,213.56 53.09% 5.31% 10.62% 15.93% 21.24% 26.54%
CORDILLERA SAVINGS BANK INC 64,774,904.85 123,366,087.49 52.51% 5.25% 10.50% 15.75% 21.00% 26.25%
TONGYANG SAVINGS BANK INC 244,334,293.64 474,040,690.72 51.54% 5.15% 10.31% 15.46% 20.62% 25.77%
PHILIPPINE VETERANS BANK 3,759,760,117.83 7,305,012,418.21 51.47% 5.15% 10.29% 15.44% 20.59% 25.73%
PHIL POSTAL SAVINGS BANK INC 671,766,952.51 1,351,665,525.19 49.70% 4.97% 9.94% 14.91% 19.88% 24.85%
DEUTSCHE BANK AG 1,068,823,098.34 2,215,707,540.15 48.24% 4.82% 9.65% 14.47% 19.30% 24.12%
MARITIME SAVINGS BANK CORPORATION 33,435,676.93 70,668,699.12 47.31% 4.73% 9.46% 14.19% 18.93% 23.66%
1ST VALLEY BANK INC A DEVELOPMENT BANK 642,031,207.19 1,368,109,523.21 46.93% 4.69% 9.39% 14.08% 18.77% 23.46%
UNION BANK OF THE PHILS 27,860,875,880.23 62,677,961,656.73 44.45% 4.45% 8.89% 13.34% 17.78% 22.23%
CHINA BANK SAVINGS INC 1,250,520,366.42 2,843,349,806.94 43.98% 4.40% 8.80% 13.19% 17.59% 21.99%
PRODUCERS SAVINGS BANK CORPORATION 595,396,826.60 1,381,963,385.45 43.08% 4.31% 8.62% 12.93% 17.23% 21.54%
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) 150,105,993.24 357,335,617.45 42.01% 4.20% 8.40% 12.60% 16.80% 21.00%
UNITED OVERSEAS BANK PHILIPPINES 768,339,948.28 1,843,819,010.39 41.67% 4.17% 8.33% 12.50% 16.67% 20.84%
SECURITY BANK SAVINGS CORPORATION 641,563,634.22 1,588,413,414.97 40.39% 4.04% 8.08% 12.12% 16.16% 20.20%
LIFE SAVINGS BANK INC 25,275,027.40 63,924,870.67 39.54% 3.95% 7.91% 11.86% 15.82% 19.77%
BANK ONE SAVINGS AND TRUST CORP. 222,333,663.29 566,887,909.10 39.22% 3.92% 7.84% 11.77% 15.69% 19.61%
PHIL NATIONAL BANK 40,360,427,887.88 104,068,094,437.47 38.78% 3.88% 7.76% 11.63% 15.51% 19.39%
KOREA EXCHANGE BANK 496,342,871.07 1,284,097,972.17 38.65% 3.87% 7.73% 11.60% 15.46% 19.33%
UNIVERSITY SAVINGS BANK INC 102,606,770.77 272,320,975.70 37.68% 3.77% 7.54% 11.30% 15.07% 18.84%
MEGA INT'L COMM'L BANK CO LTD 752,996,067.20 2,040,085,431.57 36.91% 3.69% 7.38% 11.07% 14.76% 18.46%
STANDARD CHARTERED BANK 2,712,571,038.84 8,024,888,405.68 33.80% 3.38% 6.76% 10.14% 13.52% 16.90%
BPI FAMILY SAVINGS BANK INC 9,184,790,080.93 27,240,230,883.49 33.72% 3.37% 6.74% 10.12% 13.49% 16.86%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 144,154,031.58 32.88% 3.29% 6.58% 9.86% 13.15% 16.44%
SAMPAGUITA SAVINGS BANK INC 23,876,821.97 75,446,427.87 31.65% 3.16% 6.33% 9.49% 12.66% 15.82%
EAST WEST BANKING CORP 7,352,208,071.00 24,078,038,495.54 30.53% 3.05% 6.11% 9.16% 12.21% 15.27%
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC 33,195,886.30 112,885,626.05 29.41% 2.94% 5.88% 8.82% 11.76% 14.70%
QUEZON COCONUT BANK INC (A THRIFT BANK) 16,860,367.27 57,413,595.52 29.37% 2.94% 5.87% 8.81% 11.75% 14.68%
BDO UNIBANK INC 58,212,737,471.63 202,744,632,642.70 28.71% 2.87% 5.74% 8.61% 11.48% 14.36%
LAND BANK OF THE PHILIPPINES 18,080,477,391.84 66,913,719,817.48 27.02% 2.70% 5.40% 8.11% 10.81% 13.51%
PHIL TRUST COMPANY 5,057,058,000.00 20,953,818,006.85 24.13% 2.41% 4.83% 7.24% 9.65% 12.07%
RIZAL COMM'L BANKING CORP 12,071,454,182.64 51,389,247,292.97 23.49% 2.35% 4.70% 7.05% 9.40% 11.75%
FIRST CONSOLIDATED BANK INC (A PDB) 769,901,672.97 3,416,484,504.09 22.53% 2.25% 4.51% 6.76% 9.01% 11.27%
ROBINSONS BANK CORPORATION 1,526,179,000.00 7,079,978,934.78 21.56% 2.16% 4.31% 6.47% 8.62% 10.78%
SECURITY BANK CORP 10,099,000,000.00 49,978,057,265.47 20.21% 2.02% 4.04% 6.06% 8.08% 10.10%
ASIA UNITED BANK CORPORATION 4,561,086,107.31 22,657,108,060.23 20.13% 2.01% 4.03% 6.04% 8.05% 10.07%
DEVELOPMENT BANK OF THE PHIL 8,044,354,493.36 40,570,661,092.37 19.83% 1.98% 3.97% 5.95% 7.93% 9.91%
CHINA BANKING CORP 11,469,061,592.88 58,267,596,506.47 19.68% 1.97% 3.94% 5.91% 7.87% 9.84%
MAYBANK PHILIPPINES INC 1,998,643,368.58 11,690,151,577.28 17.10% 1.71% 3.42% 5.13% 6.84% 8.55%
WEALTH DEVELOPMENT BANK CORPORATION 77,899,031.54 480,371,548.58 16.22% 1.62% 3.24% 4.86% 6.49% 8.11%
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK 108,947,815.93 681,272,956.48 15.99% 1.60% 3.20% 4.80% 6.40% 8.00%
METROPOLITAN BANK & TCO 23,643,176,349.46 150,010,488,374.17 15.76% 1.58% 3.15% 4.73% 6.30% 7.88%
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK 1,455,126,000.00 9,511,588,637.10 15.30% 1.53% 3.06% 4.59% 6.12% 7.65%
OPTIMUM DEVELOPMENT BANK INC 118,237,414.61 792,442,288.34 14.92% 1.49% 2.98% 4.48% 5.97% 7.46%
MIZUHO BANK LTD - MANILA BRANCH 421,990,399.91 3,029,984,154.78 13.93% 1.39% 2.79% 4.18% 5.57% 6.96%
MALASIQUI PROGRESSIVE SLB, INC 7,772,843.25 60,982,462.80 12.75% 1.27% 2.55% 3.82% 5.10% 6.37%
BDO PRIVATE BANK, INC. 709,747,747.91 5,591,591,534.13 12.69% 1.27% 2.54% 3.81% 5.08% 6.35%
BPI DIRECT SAVINGS BANK INC 185,550,281.49 1,466,739,963.04 12.65% 1.27% 2.53% 3.80% 5.06% 6.33%
CENTURY SAVINGS BANK CORPORATION 113,281,678.30 924,062,339.47 12.26% 1.23% 2.45% 3.68% 4.90% 6.13%
BANK OF THE PHIL ISLANDS 17,656,476,765.61 151,829,400,490.84 11.63% 1.16% 2.33% 3.49% 4.65% 5.81%
CITY SAVINGS BANK INC 747,703,695.60 6,668,601,929.63 11.21% 1.12% 2.24% 3.36% 4.48% 5.61%
HIYAS BANKING CORPORATION 16,450,205.95 170,639,794.32 9.64% 0.96% 1.93% 2.89% 3.86% 4.82%
SUN SAVINGS BANK INC 10,746,159.69 114,082,540.17 9.42% 0.94% 1.88% 2.83% 3.77% 4.71%
HSBC SAVINGS BANK(PHILS) INC 202,277,279.15 2,219,306,698.17 9.11% 0.91% 1.82% 2.73% 3.65% 4.56%
CTBC BANK (PHILIPPINES) CORP 538,724,227.33 6,959,986,711.28 7.74% 0.77% 1.55% 2.32% 3.10% 3.87%
LEMERY SAVINGS & LOAN BANK, INC. 5,650,057.09 74,923,548.33 7.54% 0.75% 1.51% 2.26% 3.02% 3.77%
HONGKONG & SHANGHAI BANKING CORP 744,434,370.37 14,022,338,639.35 5.31% 0.53% 1.06% 1.59% 2.12% 2.65%
PNB SAVINGS BANK 558,290,160.54 11,257,557,062.46 4.96% 0.50% 0.99% 1.49% 1.98% 2.48%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 376,601,564.39 3.71% 0.37% 0.74% 1.11% 1.48% 1.86%
INTERNATIONALE NEDERLANDEN GROEP BK 65,000,000.00 2,622,846,326.92 2.48% 0.25% 0.50% 0.74% 0.99% 1.24%
BATAAN SAVINGS AND LOAN BANK 1,419,538.00 64,296,764.51 2.21% 0.22% 0.44% 0.66% 0.88% 1.10%
PROGRESS SAVINGS AND LOAN BANK INC 1,258,979.13 83,794,739.22 1.50% 0.15% 0.30% 0.45% 0.60% 0.75%
ANZ BANKING GROUP LTD 29,593,661.02 4,523,125,543.65 0.65% 0.07% 0.13% 0.20% 0.26% 0.33%
PHIL BANK OF COMMUNICATIONS 31,102,717.11 7,910,385,394.08 0.39% 0.04% 0.08% 0.12% 0.16% 0.20%
BANK OF AMERICA N.A. 5,614,000.00 2,116,461,209.20 0.27% 0.03% 0.05% 0.08% 0.11% 0.13%
BANGKOK BANK PUBLIC CO LTD 4,714,155.55 3,314,810,827.00 0.14% 0.01% 0.03% 0.04% 0.06% 0.07%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,407,968,061.99 0.05% 0.01% 0.01% 0.02% 0.02% 0.03%
BDO ELITE SAVINGS BANK INC 0.00 1,583,649,281.18 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 469,126,734.21 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CITYSTATE SAVINGS BANK INC 0.00 724,795,838.45 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ENTERPRISE BANK INC (A THRIFT BANK) 0.00 296,449,412.77 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 661,796,405.99 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MBANK PHILIPPINES (A THRIFT BANK) INC 0.00 123,726,994.24 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 427,197,144.35 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 54,462,098.70 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NORTHPOINT DEV'T BANK INC 0.00 243,988,192.87 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 82,900,536.82 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,962,920,166.75 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
THE PALAWAN BANK (PALAWAN DB) INC 0.00 44,159,244.35 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Grand Total 403,700,854,944.22 1,284,656,999,735.14 31.42% 3.14% 6.28% 9.43% 12.57% 15.71%

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