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Monday, March 14, 2016

A Simple Stress Test of Philippine Banks as of June 30, 2015

Editor's Note: This is an updated version of an earlier blog post "A Simple Stress Test of Philippine Banks as of March 31, 2015"

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 192.325 billion or 1.72% of the Php 11,176.246 billion in assets held in the Philippine Banking System as of June 30, 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 124.026 billion or 9.76% of the PhP 1,270.284 billion in Stockholders Equity (SE) as of June 30, 2015.  So, writing off 50% of the Philippine Banks NPLs would reduce their aggregate stockholders equity by a little less 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 June 30, 2015").

The stockholder's equity of one bank, Comsavings Bank would be completely wiped out.  Eleven other banks would be severely affected.  These banks are: 
Legazpi Savings Bank (78.96% decline in SE), BPI Globe Banko Inc (58.50% decline in SE), Opportunity Kauswagan Bank Inc (48.70% decline in SE), Luzon Development Bank (45.42% decline in SE), Equicom Savings Bank Inc (40.66% decline in SE), Planters Development Bank (40.54% decline in SE),  World Partners Bank (39.06% decline in SE), Bataan Development Bank (37.43% decline in SE), Malayan Bank Savings and Mortgage Bank (33.97% decline in SE), MBank Philippines Inc (33.85% decline in SE), Metro Cebu Public Savings Bank (31.83% decline in SE).


Philippine Banking System
NPL as % of SE
June 30, 2015









NPL SE NPL/SE
Bank (In PHP) (In PHP) (In %)
COMSAVINGS BANK 191,248,203.56 17,594,272.04 1086.99%
LEGAZPI SAVINGS BANK INC 434,713,024.80 275,271,124.24 157.92%
BPI GLOBE BANKO INC A SAVINGS BANK 303,033,785.12 259,014,856.89 116.99%
OPPORTUNITY KAUSWAGAN BANK INC 73,180,619.07 75,132,544.94 97.40%
LUZON DEVELOPMENT BANK 507,609,992.92 558,736,010.47 90.85%
EQUICOM SAVINGS BANK INC 472,651,774.12 581,237,288.93 81.32%
PLANTERS DEVELOPMENT BANK 2,866,123,172.95 3,534,513,968.74 81.09%
WORLD PARTNERS BANK 89,604,093.13 114,691,064.13 78.13%
BATAAN DEVELOPMENT BANK 57,986,706.97 77,468,452.70 74.85%
MALAYAN BANK SAVINGS AND MORT BANK INC 666,754,530.61 981,260,887.11 67.95%
MBANK PHILIPPINES INC 39,073,209.15 57,708,925.66 67.71%
METRO CEBU PUBLIC SAVINGS BANK 36,277,745.75 56,988,412.29 63.66%
ENTERPRISE BANK INC 137,191,643.05 241,465,210.74 56.82%
FARMERS SAVINGS & LOAN BANK INC 57,441,854.50 108,608,004.16 52.89%
PHIL POSTAL SAVINGS BANK INC 544,029,479.50 1,029,990,607.85 52.82%
THE PALAWAN BANK INC 15,987,772.37 32,327,364.80 49.46%
BANK OF MAKATI INC 2,818,397,854.23 5,953,540,538.75 47.34%
STERLING BANK OF ASIA INC 966,643,725.69 2,163,698,711.07 44.68%
CHINA BANK SAVINGS INC 1,122,705,244.22 2,538,466,966.35 44.23%
PENBANK INC 139,443,525.53 320,242,577.61 43.54%
PAMPANGA DEVELOPMENT BANK 52,701,336.06 126,848,673.58 41.55%
1ST VALLEY BANK INC A DEVELOPMENT BANK 514,075,882.16 1,274,144,364.82 40.35%
STANDARD CHARTERED BANK 2,493,311,908.62 6,365,388,735.62 39.17%
NORTHPOINT DEV'T BANK INC 74,994,342.73 193,033,062.97 38.85%
MARITIME SAVINGS BANK CORPORATION 24,336,715.99 64,181,062.27 37.92%
WEALTH DEVELOPMENT BANK CORPORATION 151,263,604.62 412,087,784.99 36.71%
SAMPAGUITA SAVINGS BANK INC 19,593,200.13 55,755,849.94 35.14%
RCBC SAVINGS BANK INC 2,783,963,439.87 8,539,921,524.51 32.60%
DUNGGANON BANK INC 29,498,300.43 94,797,067.56 31.12%
UNITED COCONUT PLANTERS BANK 6,216,188,128.78 20,164,093,497.57 30.83%
PHILIPPINE VETERANS BANK 1,610,731,794.85 5,311,190,510.28 30.33%
VILLAGE BANK INC 22,730,914.51 75,784,711.08 29.99%
TONGYANG SAVINGS BANK INC 108,006,887.41 372,074,510.49 29.03%
PHIL STAR DEVELOPMENT BANK INC 21,842,920.67 76,739,387.74 28.46%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION 513,198,327.06 1,896,127,600.21 27.07%
PHIL SAVINGS BANK 4,372,148,005.47 17,384,488,208.08 25.15%
PHIL BANK OF COMMUNICATIONS 1,891,849,658.47 7,810,598,126.54 24.22%
UCPB SAVINGS BANK 516,146,099.25 2,155,160,764.68 23.95%
BPI FAMILY SAVINGS BANK INC 5,226,490,529.12 23,859,822,808.45 21.90%
LIFE SAVINGS BANK INC 12,879,682.98 61,497,646.63 20.94%
FIRST CONSOLIDATED BANK INC 621,355,629.59 3,033,307,180.24 20.48%
EAST WEST BANKING CORP 5,675,977,313.83 29,439,693,241.66 19.28%
UNION BANK OF THE PHILS 9,798,205,751.44 51,955,576,711.05 18.86%
CITYSTATE SAVINGS BANK INC 112,842,411.58 645,466,476.78 17.48%
MAYBANK PHILIPPINES INC 1,848,823,142.88 11,281,821,360.53 16.39%
BUSINESS AND CONSUMERS BANK 14,017,010.15 88,318,240.12 15.87%
UNITED OVERSEAS BANK PHILIPPINES 171,836,043.28 1,131,426,122.14 15.19%
DUMAGUETE CITY DEV BANK INC 32,759,929.63 231,912,806.28 14.13%
INTER-ASIA DEVELOPMENT BANK 7,914,470.56 56,300,188.55 14.06%
MALASIQUI PROGRESSIVE SLB, INC 7,410,279.25 53,235,328.15 13.92%
DEVELOPMENT BANK OF THE PHIL 5,759,578,869.42 42,384,636,125.43 13.59%
BPI DIRECT SAVINGS BANK INC 184,823,670.37 1,416,670,757.64 13.05%
BANK OF COMMERCE 1,943,428,393.34 15,262,313,934.88 12.73%
CORDILLERA SAVINGS BANK INC 14,627,746.41 117,479,229.01 12.45%
CITY SAVINGS BANK INC 872,211,070.89 7,232,735,528.05 12.06%
PHILIPPINE BUSINESS BANK INC 994,057,951.15 8,391,990,435.02 11.85%
PHIL NATIONAL BANK 9,067,066,902.31 93,349,883,708.14 9.71%
MICROFINANCE MAXIMUM SB INC 2,552,934.15 26,413,307.62 9.67%
LAND BANK OF THE PHILIPPINES 7,001,091,253.62 74,569,304,033.38 9.39%
CHINA BANKING CORP 4,921,349,996.05 54,131,189,224.98 9.09%
BDO UNIBANK INC 15,535,855,128.06 179,821,847,506.88 8.64%
TOWER DEVELOPMENT BANK 9,924,927.53 118,355,496.22 8.39%
ASIA UNITED BANK CORPORATION 1,696,605,696.49 20,608,012,017.40 8.23%
SUN SAVINGS BANK INC 10,273,588.19 126,356,472.19 8.13%
LEMERY SAVINGS & LOAN BANK, INC. 5,487,710.87 70,301,901.64 7.81%
PRODUCERS SAVINGS BANK CORPORATION 106,929,506.68 1,388,915,247.79 7.70%
HONGKONG & SHANGHAI BANKING CORP 1,007,193,050.23 13,093,980,223.87 7.69%
BANK OF CHINA LIMITED-MANILA BRANCH 189,040,895.91 2,508,432,508.19 7.54%
ROBINSONS BANK CORPORATION 648,281,449.20 9,080,018,266.90 7.14%
HIYAS BANKING CORPORATION 11,269,981.71 166,330,343.03 6.78%
CARD SME BANK INC A THRIFT BANK 34,383,674.39 518,521,095.02 6.63%
UNIVERSITY SAVINGS BANK INC 25,738,333.50 403,230,797.63 6.38%
QUEEN CITY DEVELOPMENT BANK INC 39,629,087.22 656,862,729.09 6.03%
BANK OF THE PHIL ISLANDS 8,502,678,861.67 144,424,514,136.66 5.89%
CTBC BANK (PHILIPPINES) CORP 365,040,429.64 6,670,249,012.45 5.47%
CITIBANK, N.A. 674,220,900.00 12,704,767,460.17 5.31%
OPTIMUM DEVELOPMENT BANK INC 38,142,223.56 767,252,477.03 4.97%
PHIL TRUST COMPANY 1,092,003,102.85 23,673,571,737.77 4.61%
BANK ONE SAVINGS AND TRUST CORP. 25,295,100.90 563,906,917.85 4.49%
PACIFIC ACE SAVINGS BANK INC 3,458,594.64 80,143,568.42 4.32%
CENTURY SAVINGS BANK CORPORATION 40,593,678.08 944,631,178.29 4.30%
PNB SAVINGS BANK 462,335,523.76 11,132,346,874.37 4.15%
MEGA INT'L COMM'L BANK CO LTD 66,450,000.00 1,878,135,053.81 3.54%
RIZAL COMM'L BANKING CORP 2,143,107,451.90 62,239,277,438.91 3.44%
HSBC SAVINGS BANK(PHILS) INC 58,688,758.57 1,808,158,787.37 3.25%
SECURITY BANK CORP 1,362,633,210.54 50,874,071,660.68 2.68%
QUEZON COCONUT BANK INC 1,555,545.32 58,766,773.87 2.65%
BATAAN SAVINGS AND LOAN BANK 1,505,600.05 64,143,950.67 2.35%
KOREA EXCHANGE BANK 23,550,181.36 1,260,307,130.33 1.87%
MERCHANTS SAVINGS & LOAN ASSN INC 6,962,105.76 393,714,280.30 1.77%
PROGRESS SAVINGS AND LOAN BANK INC 1,173,321.24 82,285,828.57 1.43%
METROPOLITAN BANK & TCO 2,557,929,137.05 180,834,565,479.46 1.41%
ANZ BANKING GROUP LTD 23,339,114.85 4,596,026,057.49 0.51%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 1,092,048.97 350,128,447.77 0.31%
BANGKOK BANK PUBLIC CO LTD 4,662,165.64 3,103,858,680.95 0.15%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,242,578,154.13 0.06%
INTERNATIONALE NEDERLANDEN GROEP BK 92.18 2,554,357,750.05 0.00%
BANK OF AMERICA N.A. 4.00 2,096,061,205.20 0.00%
BDO ELITE SAVINGS BANK INC 0.00 810,274,426.40 0.00%
BDO PRIVATE BANK, INC. 0.00 5,903,695,966.62 0.00%
DEUTSCHE BANK AG 0.00 2,559,394,821.53 0.00%
ISLA BANK INC 0.00 658,778,697.45 0.00%
MIZUHO BANK LTD - MANILA BRANCH 0.00 2,729,931,250.02 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,591,668,673.67 0.00%
Grand Total 124,025,745,474.05 1,270,284,096,111.24 9.76%



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 loans 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, 2015, "Classified Loans and Other Risky Assets" of the Philippine Banks amounted to PhP 388.232 billion or more than 3 times the size of the Philippine Banking System's NPLs of PhP 124.026 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, 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 63,500,000.00 92.18 68886960.30%
BANK OF CHINA LIMITED-MANILA BRANCH 8,567,297,952.21 189,040,895.91 4531.98%
CITIBANK, N.A. 18,318,242,000.00 674,220,900.00 2716.95%
VILLAGE BANK INC 582,948,737.72 22,730,914.51 2564.56%
KOREA EXCHANGE BANK 538,762,954.79 23,550,181.36 2287.72%
INTER-ASIA DEVELOPMENT BANK 169,528,352.23 7,914,470.56 2142.00%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 1,092,048.97 1279.47%
MEGA INT'L COMM'L BANK CO LTD 850,079,312.40 66,450,000.00 1279.28%
BANK OF COMMERCE 22,618,000,000.00 1,943,428,393.34 1163.82%
QUEZON COCONUT BANK INC 14,791,861.34 1,555,545.32 950.91%
METROPOLITAN BANK & TCO 22,694,633,465.47 2,557,929,137.05 887.23%
BANK ONE SAVINGS AND TRUST CORP. 208,265,987.28 25,295,100.90 823.35%
SECURITY BANK CORP 10,099,000,000.00 1,362,633,210.54 741.14%
COMSAVINGS BANK 1,275,879,789.57 191,248,203.56 667.13%
TOWER DEVELOPMENT BANK 59,237,724.32 9,924,927.53 596.86%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 32,759,929.63 570.36%
UCPB SAVINGS BANK 2,578,909,096.07 516,146,099.25 499.65%
RIZAL COMM'L BANKING CORP 10,401,641,907.42 2,143,107,451.90 485.35%
PHIL NATIONAL BANK 40,482,409,988.18 9,067,066,902.31 446.48%
PRODUCERS SAVINGS BANK CORPORATION 466,401,435.24 106,929,506.68 436.18%
UNIVERSITY SAVINGS BANK INC 102,093,043.31 25,738,333.50 396.66%
PHIL TRUST COMPANY 4,132,700,000.00 1,092,003,102.85 378.45%
BDO UNIBANK INC 56,663,690,899.28 15,535,855,128.06 364.73%
UNITED COCONUT PLANTERS BANK 21,487,165,524.83 6,216,188,128.78 345.66%
ASIA UNITED BANK CORPORATION 5,284,603,493.40 1,696,605,696.49 311.48%
PHIL SAVINGS BANK 13,390,215,550.38 4,372,148,005.47 306.26%
UNION BANK OF THE PHILS 27,449,251,982.34 9,798,205,751.44 280.15%
TONGYANG SAVINGS BANK INC 299,187,321.65 108,006,887.41 277.01%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION 1,409,336,415.94 513,198,327.06 274.62%
CENTURY SAVINGS BANK CORPORATION 108,933,959.68 40,593,678.08 268.35%
LAND BANK OF THE PHILIPPINES 18,784,202,685.33 7,001,091,253.62 268.30%
QUEEN CITY DEVELOPMENT BANK INC 103,944,980.55 39,629,087.22 262.29%
RCBC SAVINGS BANK INC 6,940,955,925.00 2,783,963,439.87 249.32%
CORDILLERA SAVINGS BANK INC 36,053,116.89 14,627,746.41 246.47%
ROBINSONS BANK CORPORATION 1,526,179,000.00 648,281,449.20 235.42%
CHINA BANKING CORP 11,548,801,545.21 4,921,349,996.05 234.67%
PHILIPPINE VETERANS BANK 3,631,737,822.99 1,610,731,794.85 225.47%
PHIL STAR DEVELOPMENT BANK INC 46,880,851.73 21,842,920.67 214.63%
FARMERS SAVINGS & LOAN BANK INC 122,193,963.90 57,441,854.50 212.73%
STERLING BANK OF ASIA INC 2,046,671,000.00 966,643,725.69 211.73%
LIFE SAVINGS BANK INC 26,464,594.44 12,879,682.98 205.48%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,369,718,663.63 666,754,530.61 205.43%
LEGAZPI SAVINGS BANK INC 883,980,000.00 434,713,024.80 203.35%
OPTIMUM DEVELOPMENT BANK INC 76,022,046.26 38,142,223.56 199.31%
BANK OF THE PHIL ISLANDS 16,588,114,271.55 8,502,678,861.67 195.09%
BPI FAMILY SAVINGS BANK INC 9,450,308,414.29 5,226,490,529.12 180.82%
BATAAN DEVELOPMENT BANK 102,400,000.00 57,986,706.97 176.59%
DEVELOPMENT BANK OF THE PHIL 9,870,609,486.14 5,759,578,869.42 171.38%
CHINA BANK SAVINGS INC 1,901,905,060.22 1,122,705,244.22 169.40%
PLANTERS DEVELOPMENT BANK 4,717,131,378.67 2,866,123,172.95 164.58%
CTBC BANK (PHILIPPINES) CORP 560,852,288.42 365,040,429.64 153.64%
WEALTH DEVELOPMENT BANK CORPORATION 229,105,976.35 151,263,604.62 151.46%
MARITIME SAVINGS BANK CORPORATION 36,807,174.63 24,336,715.99 151.24%
PHIL POSTAL SAVINGS BANK INC 817,057,342.65 544,029,479.50 150.19%
PHILIPPINE BUSINESS BANK INC 1,455,126,000.00 994,057,951.15 146.38%
BANK OF MAKATI INC 3,960,957,751.48 2,818,397,854.23 140.54%
WORLD PARTNERS BANK 124,581,022.39 89,604,093.13 139.03%
PENBANK INC 190,850,647.77 139,443,525.53 136.87%
DUNGGANON BANK INC 40,199,668.34 29,498,300.43 136.28%
EQUICOM SAVINGS BANK INC 618,797,317.97 472,651,774.12 130.92%
EAST WEST BANKING CORP 7,352,208,071.00 5,675,977,313.83 129.53%
FIRST CONSOLIDATED BANK INC 802,937,890.33 621,355,629.59 129.22%
PNB SAVINGS BANK 595,070,640.73 462,335,523.76 128.71%
HONGKONG & SHANGHAI BANKING CORP 1,287,612,857.31 1,007,193,050.23 127.84%
MAYBANK PHILIPPINES INC 2,329,333,288.65 1,848,823,142.88 125.99%
CITY SAVINGS BANK INC 1,034,826,722.22 872,211,070.89 118.64%
BPI DIRECT SAVINGS BANK INC 218,528,436.19 184,823,670.37 118.24%
ANZ BANKING GROUP LTD 27,054,105.87 23,339,114.85 115.92%
UNITED OVERSEAS BANK PHILIPPINES 198,947,613.94 171,836,043.28 115.78%
LEMERY SAVINGS & LOAN BANK, INC. 6,292,792.41 5,487,710.87 114.67%
METRO CEBU PUBLIC SAVINGS BANK 39,957,840.28 36,277,745.75 110.14%
STANDARD CHARTERED BANK 2,678,992,652.79 2,493,311,908.62 107.45%
SAMPAGUITA SAVINGS BANK INC 20,896,821.97 19,593,200.13 106.65%
PROGRESS SAVINGS AND LOAN BANK INC 1,246,302.24 1,173,321.24 106.22%
1ST VALLEY BANK INC A DEVELOPMENT BANK 532,593,142.61 514,075,882.16 103.60%
SUN SAVINGS BANK INC 10,437,944.29 10,273,588.19 101.60%
OPPORTUNITY KAUSWAGAN BANK INC 73,183,405.25 73,180,619.07 100.00%
BANGKOK BANK PUBLIC CO LTD 4,662,165.64 4,662,165.64 100.00%
BATAAN SAVINGS AND LOAN BANK 1,505,600.05 1,505,600.05 100.00%
BPI GLOBE BANKO INC A SAVINGS BANK 303,033,785.12 303,033,785.12 100.00%
HIYAS BANKING CORPORATION 11,269,981.71 11,269,981.71 100.00%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 734,885.22 100.00%
MALASIQUI PROGRESSIVE SLB, INC 7,410,279.25 7,410,279.25 100.00%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 52,701,336.06 89.93%
LUZON DEVELOPMENT BANK 431,381,273.90 507,609,992.92 84.98%
HSBC SAVINGS BANK(PHILS) INC 46,176,201.38 58,688,758.57 78.68%
PHIL BANK OF COMMUNICATIONS 365,011,551.75 1,891,849,658.47 19.29%
BUSINESS AND CONSUMERS BANK 0.00 14,017,010.15 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 34,383,674.39 0.00%
CITYSTATE SAVINGS BANK INC 0.00 112,842,411.58 0.00%
ENTERPRISE BANK INC 0.00 137,191,643.05 0.00%
MBANK PHILIPPINES INC 0.00 39,073,209.15 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 6,962,105.76 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 2,552,934.15 0.00%
NORTHPOINT DEV'T BANK INC 0.00 74,994,342.73 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 3,458,594.64 0.00%
THE PALAWAN BANK INC 0.00 15,987,772.37 0.00%
BDO ELITE SAVINGS BANK INC 0.00 0.00 NA
BDO PRIVATE BANK, INC. 0.00 0.00 NA
DEUTSCHE BANK AG 1,027,114,356.83 0.00 NA
ISLA BANK(A THRIFT BANK) INC 0.00 0.00 NA
MIZUHO BANK LTD - MANILA BRANCH 444,450,588.01 0.00 NA
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 0.00 NA
Grand Total 388,232,020,746.03 124,025,745,474.05 313.03%


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 Php 388.232 billion or 27.21% of the Php 1.427 trillion in Total Capital Cushion of Philippine Banks as of June 30, 2015.

Philippine Banking System
Classified Loans as % of Total Capital Cushion
June 30, 2015









Classified Loans Total Capital Cushion Classified Loans/Total Capital Cushion
Bank (In Php) (In Php) (In %)
COMSAVINGS BANK 1,275,879,789.57 44,118,280.85 2891.95%
VILLAGE BANK INC 582,948,737.72 93,126,911.50 625.97%
BANK OF CHINA LIMITED-MANILA BRANCH 8,567,297,952.21 2,785,123,243.61 307.61%
INTER-ASIA DEVELOPMENT BANK 169,528,352.23 63,101,928.88 268.66%
LEGAZPI SAVINGS BANK INC 883,980,000.00 502,733,090.43 175.83%
BANK OF COMMERCE 22,618,000,000.00 18,048,063,882.89 125.32%
BATAAN DEVELOPMENT BANK 102,400,000.00 92,857,968.92 110.28%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,369,718,663.63 1,277,864,503.62 107.19%
CITIBANK, N.A. 18,318,242,000.00 18,342,138,893.87 99.87%
PLANTERS DEVELOPMENT BANK 4,717,131,378.67 4,808,565,447.68 98.10%
UCPB SAVINGS BANK 2,578,909,096.07 2,714,823,708.96 94.99%
UNITED COCONUT PLANTERS BANK 21,487,165,524.83 24,453,614,133.43 87.87%
FARMERS SAVINGS & LOAN BANK INC 122,193,963.90 139,560,786.33 87.56%
OPPORTUNITY KAUSWAGAN BANK INC 73,183,405.25 94,740,628.77 77.25%
EQUICOM SAVINGS BANK INC 618,797,317.97 814,629,159.07 75.96%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 248,446,663.40 75.21%
WORLD PARTNERS BANK 124,581,022.39 167,933,819.51 74.18%
STERLING BANK OF ASIA INC 2,046,671,000.00 2,828,022,222.73 72.37%
RCBC SAVINGS BANK INC 6,940,955,925.00 10,296,430,572.68 67.41%
LUZON DEVELOPMENT BANK 431,381,273.90 660,443,348.74 65.32%
TONGYANG SAVINGS BANK INC 299,187,321.65 468,659,103.06 63.84%
CHINA BANK SAVINGS INC 1,901,905,060.22 3,003,233,062.40 63.33%
METRO CEBU PUBLIC SAVINGS BANK 39,957,840.28 64,105,886.39 62.33%
PHIL SAVINGS BANK 13,390,215,550.38 21,519,597,415.30 62.22%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION 1,409,336,415.94 2,341,058,224.61 60.20%
PHIL STAR DEVELOPMENT BANK INC 46,880,851.73 82,829,703.22 56.60%
PHIL POSTAL SAVINGS BANK INC 817,057,342.65 1,448,148,833.75 56.42%
PHILIPPINE VETERANS BANK 3,631,737,822.99 6,501,316,566.80 55.86%
BPI GLOBE BANKO INC A SAVINGS BANK 303,033,785.12 542,558,227.18 55.85%
BANK OF MAKATI INC 3,960,957,751.48 7,224,429,509.58 54.83%
MARITIME SAVINGS BANK CORPORATION 36,807,174.63 71,129,707.51 51.75%
PENBANK INC 190,850,647.77 395,568,457.24 48.25%
WEALTH DEVELOPMENT BANK CORPORATION 229,105,976.35 476,979,240.81 48.03%
TOWER DEVELOPMENT BANK 59,237,724.32 125,604,014.82 47.16%
UNION BANK OF THE PHILS 27,449,251,982.34 62,186,301,803.19 44.14%
LIFE SAVINGS BANK INC 26,464,594.44 64,272,968.30 41.18%
KOREA EXCHANGE BANK 538,762,954.79 1,328,663,132.65 40.55%
MEGA INT'L COMM'L BANK CO LTD 850,079,312.40 2,111,549,855.08 40.26%
PHIL NATIONAL BANK 40,482,409,988.18 104,220,742,504.74 38.84%
DEUTSCHE BANK AG 1,027,114,356.83 2,739,308,428.84 37.50%
1ST VALLEY BANK INC A DEVELOPMENT BANK 532,593,142.61 1,455,354,886.73 36.60%
BANK ONE SAVINGS AND TRUST CORP. 208,265,987.28 573,440,520.38 36.32%
STANDARD CHARTERED BANK 2,678,992,652.79 7,972,749,646.57 33.60%
DUNGGANON BANK INC 40,199,668.34 119,951,647.02 33.51%
BPI FAMILY SAVINGS BANK INC 9,450,308,414.29 29,102,771,711.02 32.47%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 149,655,765.13 31.67%
PRODUCERS SAVINGS BANK CORPORATION 466,401,435.24 1,485,741,046.24 31.39%
CORDILLERA SAVINGS BANK INC 36,053,116.89 128,367,540.85 28.09%
SAMPAGUITA SAVINGS BANK INC 20,896,821.97 75,128,124.57 27.81%
BDO UNIBANK INC 56,663,690,899.28 208,924,913,787.16 27.12%
QUEZON COCONUT BANK INC 14,791,861.34 59,657,589.15 24.79%
ASIA UNITED BANK CORPORATION 5,284,603,493.40 22,022,339,838.44 24.00%
UNIVERSITY SAVINGS BANK INC 102,093,043.31 445,207,024.78 22.93%
FIRST CONSOLIDATED BANK INC 802,937,890.33 3,591,530,236.98 22.36%
EAST WEST BANKING CORP 7,352,208,071.00 32,886,394,833.68 22.36%
LAND BANK OF THE PHILIPPINES 18,784,202,685.33 85,736,267,882.83 21.91%
DEVELOPMENT BANK OF THE PHIL 9,870,609,486.14 48,210,176,491.78 20.47%
CHINA BANKING CORP 11,548,801,545.21 60,624,020,875.17 19.05%
MAYBANK PHILIPPINES INC 2,329,333,288.65 12,495,146,715.19 18.64%
SECURITY BANK CORP 10,099,000,000.00 54,187,960,329.11 18.64%
PHIL TRUST COMPANY 4,132,700,000.00 25,846,334,215.67 15.99%
RIZAL COMM'L BANKING CORP 10,401,641,907.42 65,649,632,237.90 15.84%
ROBINSONS BANK CORPORATION 1,526,179,000.00 9,664,882,823.77 15.79%
PHILIPPINE BUSINESS BANK INC 1,455,126,000.00 9,230,191,936.17 15.76%
QUEEN CITY DEVELOPMENT BANK INC 103,944,980.55 676,033,946.25 15.38%
UNITED OVERSEAS BANK PHILIPPINES 198,947,613.94 1,309,607,540.50 15.19%
MIZUHO BANK LTD - MANILA BRANCH 444,450,588.01 3,059,910,745.40 14.52%
BPI DIRECT SAVINGS BANK INC 218,528,436.19 1,616,185,000.55 13.52%
CITY SAVINGS BANK INC 1,034,826,722.22 7,984,188,761.30 12.96%
MALASIQUI PROGRESSIVE SLB, INC 7,410,279.25 60,419,924.53 12.26%
METROPOLITAN BANK & TCO 22,694,633,465.47 193,240,144,599.97 11.74%
CENTURY SAVINGS BANK CORPORATION 108,933,959.68 958,217,214.16 11.37%
BANK OF THE PHIL ISLANDS 16,588,114,271.55 156,889,552,712.00 10.57%
OPTIMUM DEVELOPMENT BANK INC 76,022,046.26 811,821,316.09 9.36%
HONGKONG & SHANGHAI BANKING CORP 1,287,612,857.31 14,207,745,211.46 9.06%
LEMERY SAVINGS & LOAN BANK, INC. 6,292,792.41 72,650,879.95 8.66%
CTBC BANK (PHILIPPINES) CORP 560,852,288.42 7,126,478,158.82 7.87%
SUN SAVINGS BANK INC 10,437,944.29 136,475,484.64 7.65%
HIYAS BANKING CORPORATION 11,269,981.71 173,160,409.96 6.51%
PNB SAVINGS BANK 595,070,640.73 11,355,418,217.31 5.24%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 352,924,512.44 3.96%
PHIL BANK OF COMMUNICATIONS 365,011,551.75 9,318,215,169.33 3.92%
HSBC SAVINGS BANK(PHILS) INC 46,176,201.38 1,904,389,579.22 2.42%
INTERNATIONALE NEDERLANDEN GROEP BK 63,500,000.00 2,662,776,289.14 2.38%
BATAAN SAVINGS AND LOAN BANK 1,505,600.05 65,738,995.29 2.29%
PROGRESS SAVINGS AND LOAN BANK INC 1,246,302.24 82,570,351.54 1.51%
ANZ BANKING GROUP LTD 27,054,105.87 4,863,174,438.50 0.56%
BANK OF AMERICA N.A. 5,614,000.00 2,120,761,205.20 0.26%
BANGKOK BANK PUBLIC CO LTD 4,662,165.64 3,338,727,965.95 0.14%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,262,803,604.13 0.06%
BDO ELITE SAVINGS BANK INC 0.00 810,274,426.40 0.00%
BDO PRIVATE BANK, INC. 0.00 5,993,001,904.64 0.00%
BUSINESS AND CONSUMERS BANK 0.00 95,407,598.37 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 578,877,354.10 0.00%
CITYSTATE SAVINGS BANK INC 0.00 680,796,907.20 0.00%
ENTERPRISE BANK INC 0.00 296,819,024.40 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 663,069,277.78 0.00%
MBANK PHILIPPINES INC 0.00 93,602,501.88 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 405,206,328.57 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 28,862,412.96 0.00%
NORTHPOINT DEV'T BANK INC 0.00 242,692,173.28 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 82,631,874.57 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,975,378,704.13 0.00%
THE PALAWAN BANK INC 0.00 47,239,242.80 0.00%
Grand Total 388,232,020,746.03 1,426,674,165,512.34 27.21%


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 27.21% 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 2.72% and a 50% write-off of classified loans will reduce the banking system's Total Capital Cushion by 13.60%.

Individual Banks

A 10% write-off of Classified Loans would wipe out the capital of one bank (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 (289.20% reduction in Total Capital Cushion)
  2. Village Bank Inc. (62.60% reduction in Total Capital Cushion)
  3. Bank of China Limited - Manila Branch (30.76% reduction in Total Capital Cushion)

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

  1. Comsavings Bank (578.39% reduction in Total Capital Cushion)
  2. Village Bank Inc. (125.19% reduction in Total Capital Cushion)
  3. Bank of China Limited - Manila Branch (61.52% reduction in Total Capital Cushion)
  4. Inter-Asia Development Bank (53.73% reduction in Total Capital Cushion)
  5. Legazpi Savings Bank (35.17% reduction in Total Capital Cushion)

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


  1. Comsavings Bank (867.59% reduction in Total Capital Cushion)
  2. Village Bank Inc. (187.79% reduction in Total Capital Cushion)
  3. Bank of China Limited - Manila Branch (92.28% reduction in Total Capital Cushion)
  4. Inter-Asia Development Bank (80.60% reduction in Total Capital Cushion)
  5. Legazpi Savings Bank (52.75% reduction in Total Capital Cushion)
  6. Bank of Commerce (37.60% reduction in Total Capital Cushion)
  7. Bataan Development Bank (33.08% reduction in Total Capital Cushion)
  8. Malayan Bank Savings and Mortgage Bank Inc (32.16% reduction in Total Capital Cushion)

A 40% 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 twelve more banks:

  1. Comsavings Bank (1156.78% reduction in Total Capital Cushion)
  2. Village Bank Inc. (250.39% reduction in Total Capital Cushion)
  3. Bank of China Limited - Manila Branch (123.04% reduction in Total Capital Cushion)
  4. Inter-Asia Development Bank (107.46% reduction in Total Capital Cushion)
  5. Legazpi Savings Bank (70.33% reduction in Total Capital Cushion)
  6. Bank of Commerce (50.13% reduction in Total Capital Cushion)
  7. Bataan Development Bank (44.11% reduction in Total Capital Cushion)
  8. Malayan Bank Savings and Mortgage Bank Inc (42.88% reduction in Total Capital Cushion)
  9. Citibank, N.A. (39.95% reduction in Total Capital Cushion)
  10. Planters Development Bank (39.24% reduction in Total Capital Cushion)
  11. UCPB Savings Bank (38.00% reduction in Total Capital Cushion)
  12. United Coconut Planters Bank (35.15% reduction in Total Capital Cushion)
  13. Farmers Savings & Loan Bank (35.02% reduction in Total Capital Cushion)
  14. Opportunity Kauswagan Bank Inc (30.90% reduction in Total Capital Cushion)
  15. Equicom Savings Bank (30.38% reduction in Total Capital Cushion)
  16. Dumaguete City Development Bank Inc. (30.08% reduction in Total Capital Cushion)

A 50% 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 twenty-one more banks:

  1. Comsavings Bank (1445.98% reduction in Total Capital Cushion)
  2. Village Bank Inc. (312.99% reduction in Total Capital Cushion)
  3. Bank of China Limited - Manila Branch (153.80% reduction in Total Capital Cushion)
  4. Inter-Asia Development Bank (134.33% reduction in Total Capital Cushion)
  5. Legazpi Savings Bank (87.92% reduction in Total Capital Cushion)
  6. Bank of Commerce (62.66% reduction in Total Capital Cushion)
  7. Bataan Development Bank (55.14% reduction in Total Capital Cushion)
  8. Malayan Bank Savings and Mortgage Bank Inc (53.59% reduction in Total Capital Cushion)
  9. Citibank, N.A. (49.93% reduction in Total Capital Cushion)
  10. Planters Development Bank (49.05% reduction in Total Capital Cushion)
  11. UCPB Savings Bank (47.50% reduction in Total Capital Cushion)
  12. United Coconut Planters Bank (43.93% reduction in Total Capital Cushion)
  13. Farmers Savings & Loan Bank (43.78% reduction in Total Capital Cushion)
  14. Opportunity Kauswagan Bank Inc (38.62% reduction in Total Capital Cushion)
  15. Equicom Savings Bank (37.98% reduction in Total Capital Cushion)
  16. Dumaguete City Development Bank Inc. (37.60% reduction in Total Capital Cushion)
  17. World Partners Bank (37.09% reduction in Total Capital Cushion)
  18. Sterling Bank of Asia Inc (36.19% reduction in Total Capital Cushion)
  19. RCBC Savings Bank (33.71% reduction in Total Capital Cushion)
  20. Luzon Development Bank (32.66% reduction in Total Capital Cushion)
  21. TongYang Savings Bank Inc (31.92% reduction in Total Capital Cushion)
  22. China Bank Savings Inc (31.66% reduction in Total Capital Cushion)
  23. Metro Cebu Public Savings Bank (31.17% reduction in Total Capital Cushion)
  24. Philippine Savings Bank (31.11% reduction in Total Capital Cushion)
  25. Philippine Resources Savings Banking Corporation (30.10% 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, 2015".  Moreover, their capital can be overstated.  See a previous blog post "Overstated Capital of Philippine Banks as of June 30, 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
June 30, 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 44,118,280.85 2891.95% 289.20% 578.39% 867.59% 1156.78% 1445.98%
VILLAGE BANK INC 582,948,737.72 93,126,911.50 625.97% 62.60% 125.19% 187.79% 250.39% 312.99%
BANK OF CHINA LIMITED-MANILA BRANCH 8,567,297,952.21 2,785,123,243.61 307.61% 30.76% 61.52% 92.28% 123.04% 153.80%
INTER-ASIA DEVELOPMENT BANK 169,528,352.23 63,101,928.88 268.66% 26.87% 53.73% 80.60% 107.46% 134.33%
LEGAZPI SAVINGS BANK INC 883,980,000.00 502,733,090.43 175.83% 17.58% 35.17% 52.75% 70.33% 87.92%
BANK OF COMMERCE 22,618,000,000.00 18,048,063,882.89 125.32% 12.53% 25.06% 37.60% 50.13% 62.66%
BATAAN DEVELOPMENT BANK 102,400,000.00 92,857,968.92 110.28% 11.03% 22.06% 33.08% 44.11% 55.14%
MALAYAN BANK SAVINGS AND MORT BANK INC 1,369,718,663.63 1,277,864,503.62 107.19% 10.72% 21.44% 32.16% 42.88% 53.59%
CITIBANK, N.A. 18,318,242,000.00 18,342,138,893.87 99.87% 9.99% 19.97% 29.96% 39.95% 49.93%
PLANTERS DEVELOPMENT BANK 4,717,131,378.67 4,808,565,447.68 98.10% 9.81% 19.62% 29.43% 39.24% 49.05%
UCPB SAVINGS BANK 2,578,909,096.07 2,714,823,708.96 94.99% 9.50% 19.00% 28.50% 38.00% 47.50%
UNITED COCONUT PLANTERS BANK 21,487,165,524.83 24,453,614,133.43 87.87% 8.79% 17.57% 26.36% 35.15% 43.93%
FARMERS SAVINGS & LOAN BANK INC 122,193,963.90 139,560,786.33 87.56% 8.76% 17.51% 26.27% 35.02% 43.78%
OPPORTUNITY KAUSWAGAN BANK INC 73,183,405.25 94,740,628.77 77.25% 7.72% 15.45% 23.17% 30.90% 38.62%
EQUICOM SAVINGS BANK INC 618,797,317.97 814,629,159.07 75.96% 7.60% 15.19% 22.79% 30.38% 37.98%
DUMAGUETE CITY DEV BANK INC 186,850,000.00 248,446,663.40 75.21% 7.52% 15.04% 22.56% 30.08% 37.60%
WORLD PARTNERS BANK 124,581,022.39 167,933,819.51 74.18% 7.42% 14.84% 22.26% 29.67% 37.09%
STERLING BANK OF ASIA INC 2,046,671,000.00 2,828,022,222.73 72.37% 7.24% 14.47% 21.71% 28.95% 36.19%
RCBC SAVINGS BANK INC 6,940,955,925.00 10,296,430,572.68 67.41% 6.74% 13.48% 20.22% 26.96% 33.71%
LUZON DEVELOPMENT BANK 431,381,273.90 660,443,348.74 65.32% 6.53% 13.06% 19.60% 26.13% 32.66%
TONGYANG SAVINGS BANK INC 299,187,321.65 468,659,103.06 63.84% 6.38% 12.77% 19.15% 25.54% 31.92%
CHINA BANK SAVINGS INC 1,901,905,060.22 3,003,233,062.40 63.33% 6.33% 12.67% 19.00% 25.33% 31.66%
METRO CEBU PUBLIC SAVINGS BANK 39,957,840.28 64,105,886.39 62.33% 6.23% 12.47% 18.70% 24.93% 31.17%
PHIL SAVINGS BANK 13,390,215,550.38 21,519,597,415.30 62.22% 6.22% 12.44% 18.67% 24.89% 31.11%
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION 1,409,336,415.94 2,341,058,224.61 60.20% 6.02% 12.04% 18.06% 24.08% 30.10%
PHIL STAR DEVELOPMENT BANK INC 46,880,851.73 82,829,703.22 56.60% 5.66% 11.32% 16.98% 22.64% 28.30%
PHIL POSTAL SAVINGS BANK INC 817,057,342.65 1,448,148,833.75 56.42% 5.64% 11.28% 16.93% 22.57% 28.21%
PHILIPPINE VETERANS BANK 3,631,737,822.99 6,501,316,566.80 55.86% 5.59% 11.17% 16.76% 22.34% 27.93%
BPI GLOBE BANKO INC A SAVINGS BANK 303,033,785.12 542,558,227.18 55.85% 5.59% 11.17% 16.76% 22.34% 27.93%
BANK OF MAKATI INC 3,960,957,751.48 7,224,429,509.58 54.83% 5.48% 10.97% 16.45% 21.93% 27.41%
MARITIME SAVINGS BANK CORPORATION 36,807,174.63 71,129,707.51 51.75% 5.17% 10.35% 15.52% 20.70% 25.87%
PENBANK INC 190,850,647.77 395,568,457.24 48.25% 4.82% 9.65% 14.47% 19.30% 24.12%
WEALTH DEVELOPMENT BANK CORPORATION 229,105,976.35 476,979,240.81 48.03% 4.80% 9.61% 14.41% 19.21% 24.02%
TOWER DEVELOPMENT BANK 59,237,724.32 125,604,014.82 47.16% 4.72% 9.43% 14.15% 18.86% 23.58%
UNION BANK OF THE PHILS 27,449,251,982.34 62,186,301,803.19 44.14% 4.41% 8.83% 13.24% 17.66% 22.07%
LIFE SAVINGS BANK INC 26,464,594.44 64,272,968.30 41.18% 4.12% 8.24% 12.35% 16.47% 20.59%
KOREA EXCHANGE BANK 538,762,954.79 1,328,663,132.65 40.55% 4.05% 8.11% 12.16% 16.22% 20.27%
MEGA INT'L COMM'L BANK CO LTD 850,079,312.40 2,111,549,855.08 40.26% 4.03% 8.05% 12.08% 16.10% 20.13%
PHIL NATIONAL BANK 40,482,409,988.18 104,220,742,504.74 38.84% 3.88% 7.77% 11.65% 15.54% 19.42%
DEUTSCHE BANK AG 1,027,114,356.83 2,739,308,428.84 37.50% 3.75% 7.50% 11.25% 15.00% 18.75%
1ST VALLEY BANK INC A DEVELOPMENT BANK 532,593,142.61 1,455,354,886.73 36.60% 3.66% 7.32% 10.98% 14.64% 18.30%
BANK ONE SAVINGS AND TRUST CORP. 208,265,987.28 573,440,520.38 36.32% 3.63% 7.26% 10.90% 14.53% 18.16%
STANDARD CHARTERED BANK 2,678,992,652.79 7,972,749,646.57 33.60% 3.36% 6.72% 10.08% 13.44% 16.80%
DUNGGANON BANK INC 40,199,668.34 119,951,647.02 33.51% 3.35% 6.70% 10.05% 13.41% 16.76%
BPI FAMILY SAVINGS BANK INC 9,450,308,414.29 29,102,771,711.02 32.47% 3.25% 6.49% 9.74% 12.99% 16.24%
PAMPANGA DEVELOPMENT BANK 47,394,335.63 149,655,765.13 31.67% 3.17% 6.33% 9.50% 12.67% 15.83%
PRODUCERS SAVINGS BANK CORPORATION 466,401,435.24 1,485,741,046.24 31.39% 3.14% 6.28% 9.42% 12.56% 15.70%
CORDILLERA SAVINGS BANK INC 36,053,116.89 128,367,540.85 28.09% 2.81% 5.62% 8.43% 11.23% 14.04%
SAMPAGUITA SAVINGS BANK INC 20,896,821.97 75,128,124.57 27.81% 2.78% 5.56% 8.34% 11.13% 13.91%
BDO UNIBANK INC 56,663,690,899.28 208,924,913,787.16 27.12% 2.71% 5.42% 8.14% 10.85% 13.56%
QUEZON COCONUT BANK INC 14,791,861.34 59,657,589.15 24.79% 2.48% 4.96% 7.44% 9.92% 12.40%
ASIA UNITED BANK CORPORATION 5,284,603,493.40 22,022,339,838.44 24.00% 2.40% 4.80% 7.20% 9.60% 12.00%
UNIVERSITY SAVINGS BANK INC 102,093,043.31 445,207,024.78 22.93% 2.29% 4.59% 6.88% 9.17% 11.47%
FIRST CONSOLIDATED BANK INC 802,937,890.33 3,591,530,236.98 22.36% 2.24% 4.47% 6.71% 8.94% 11.18%
EAST WEST BANKING CORP 7,352,208,071.00 32,886,394,833.68 22.36% 2.24% 4.47% 6.71% 8.94% 11.18%
LAND BANK OF THE PHILIPPINES 18,784,202,685.33 85,736,267,882.83 21.91% 2.19% 4.38% 6.57% 8.76% 10.95%
DEVELOPMENT BANK OF THE PHIL 9,870,609,486.14 48,210,176,491.78 20.47% 2.05% 4.09% 6.14% 8.19% 10.24%
CHINA BANKING CORP 11,548,801,545.21 60,624,020,875.17 19.05% 1.90% 3.81% 5.71% 7.62% 9.52%
MAYBANK PHILIPPINES INC 2,329,333,288.65 12,495,146,715.19 18.64% 1.86% 3.73% 5.59% 7.46% 9.32%
SECURITY BANK CORP 10,099,000,000.00 54,187,960,329.11 18.64% 1.86% 3.73% 5.59% 7.45% 9.32%
PHIL TRUST COMPANY 4,132,700,000.00 25,846,334,215.67 15.99% 1.60% 3.20% 4.80% 6.40% 7.99%
RIZAL COMM'L BANKING CORP 10,401,641,907.42 65,649,632,237.90 15.84% 1.58% 3.17% 4.75% 6.34% 7.92%
ROBINSONS BANK CORPORATION 1,526,179,000.00 9,664,882,823.77 15.79% 1.58% 3.16% 4.74% 6.32% 7.90%
PHILIPPINE BUSINESS BANK INC 1,455,126,000.00 9,230,191,936.17 15.76% 1.58% 3.15% 4.73% 6.31% 7.88%
QUEEN CITY DEVELOPMENT BANK INC 103,944,980.55 676,033,946.25 15.38% 1.54% 3.08% 4.61% 6.15% 7.69%
UNITED OVERSEAS BANK PHILIPPINES 198,947,613.94 1,309,607,540.50 15.19% 1.52% 3.04% 4.56% 6.08% 7.60%
MIZUHO BANK LTD - MANILA BRANCH 444,450,588.01 3,059,910,745.40 14.52% 1.45% 2.90% 4.36% 5.81% 7.26%
BPI DIRECT SAVINGS BANK INC 218,528,436.19 1,616,185,000.55 13.52% 1.35% 2.70% 4.06% 5.41% 6.76%
CITY SAVINGS BANK INC 1,034,826,722.22 7,984,188,761.30 12.96% 1.30% 2.59% 3.89% 5.18% 6.48%
MALASIQUI PROGRESSIVE SLB, INC 7,410,279.25 60,419,924.53 12.26% 1.23% 2.45% 3.68% 4.91% 6.13%
METROPOLITAN BANK & TCO 22,694,633,465.47 193,240,144,599.97 11.74% 1.17% 2.35% 3.52% 4.70% 5.87%
CENTURY SAVINGS BANK CORPORATION 108,933,959.68 958,217,214.16 11.37% 1.14% 2.27% 3.41% 4.55% 5.68%
BANK OF THE PHIL ISLANDS 16,588,114,271.55 156,889,552,712.00 10.57% 1.06% 2.11% 3.17% 4.23% 5.29%
OPTIMUM DEVELOPMENT BANK INC 76,022,046.26 811,821,316.09 9.36% 0.94% 1.87% 2.81% 3.75% 4.68%
HONGKONG & SHANGHAI BANKING CORP 1,287,612,857.31 14,207,745,211.46 9.06% 0.91% 1.81% 2.72% 3.63% 4.53%
LEMERY SAVINGS & LOAN BANK, INC. 6,292,792.41 72,650,879.95 8.66% 0.87% 1.73% 2.60% 3.46% 4.33%
CTBC BANK (PHILIPPINES) CORP 560,852,288.42 7,126,478,158.82 7.87% 0.79% 1.57% 2.36% 3.15% 3.93%
SUN SAVINGS BANK INC 10,437,944.29 136,475,484.64 7.65% 0.76% 1.53% 2.29% 3.06% 3.82%
HIYAS BANKING CORPORATION 11,269,981.71 173,160,409.96 6.51% 0.65% 1.30% 1.95% 2.60% 3.25%
PNB SAVINGS BANK 595,070,640.73 11,355,418,217.31 5.24% 0.52% 1.05% 1.57% 2.10% 2.62%
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS 13,972,461.61 352,924,512.44 3.96% 0.40% 0.79% 1.19% 1.58% 1.98%
PHIL BANK OF COMMUNICATIONS 365,011,551.75 9,318,215,169.33 3.92% 0.39% 0.78% 1.18% 1.57% 1.96%
HSBC SAVINGS BANK(PHILS) INC 46,176,201.38 1,904,389,579.22 2.42% 0.24% 0.48% 0.73% 0.97% 1.21%
INTERNATIONALE NEDERLANDEN GROEP BK 63,500,000.00 2,662,776,289.14 2.38% 0.24% 0.48% 0.72% 0.95% 1.19%
BATAAN SAVINGS AND LOAN BANK 1,505,600.05 65,738,995.29 2.29% 0.23% 0.46% 0.69% 0.92% 1.15%
PROGRESS SAVINGS AND LOAN BANK INC 1,246,302.24 82,570,351.54 1.51% 0.15% 0.30% 0.45% 0.60% 0.75%
ANZ BANKING GROUP LTD 27,054,105.87 4,863,174,438.50 0.56% 0.06% 0.11% 0.17% 0.22% 0.28%
BANK OF AMERICA N.A. 5,614,000.00 2,120,761,205.20 0.26% 0.03% 0.05% 0.08% 0.11% 0.13%
BANGKOK BANK PUBLIC CO LTD 4,662,165.64 3,338,727,965.95 0.14% 0.01% 0.03% 0.04% 0.06% 0.07%
JP MORGAN CHASE BANK NATIONAL ASSN. 734,885.22 1,262,803,604.13 0.06% 0.01% 0.01% 0.02% 0.02% 0.03%
BDO ELITE SAVINGS BANK INC 0.00 810,274,426.40 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BDO PRIVATE BANK, INC. 0.00 5,993,001,904.64 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BUSINESS AND CONSUMERS BANK 0.00 95,407,598.37 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CARD SME BANK INC A THRIFT BANK 0.00 578,877,354.10 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
CITYSTATE SAVINGS BANK INC 0.00 680,796,907.20 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ENTERPRISE BANK INC 0.00 296,819,024.40 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ISLA BANK(A THRIFT BANK) INC 0.00 663,069,277.78 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MBANK PHILIPPINES INC 0.00 93,602,501.88 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MERCHANTS SAVINGS & LOAN ASSN INC 0.00 405,206,328.57 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
MICROFINANCE MAXIMUM SB INC 0.00 28,862,412.96 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NORTHPOINT DEV'T BANK INC 0.00 242,692,173.28 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
PACIFIC ACE SAVINGS BANK INC 0.00 82,631,874.57 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
THE BNK OF TOKYO-MITSUBISHI UFJ LTD 0.00 4,975,378,704.13 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
THE PALAWAN BANK INC 0.00 47,239,242.80 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Grand Total 388,232,020,746.03 1,426,674,165,512.34 27.21% 2.72% 5.44% 8.16% 10.88% 13.61%


Source: www.bsp.gov.ph

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