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Monday, January 1, 2018

The Financial Strength of Philippine Banks according to BSP: From Weakest to Strongest - As of September 30, 2017

A bank's Capital Adequacy Ratio is a measure of a bank's capital and financial strength. BSP requires Philippine banks to measure their capital adequacy in at least three defined ratios:

  1. Total Capital Adequacy Ratio
  2. Tier One Capital Adequacy Ratio
  3. Common Tier One Adequacy Ratio.

For a more detailed understanding of these ratios, you can consult BSP's own implementation guidelines, Investopedia.com, or numerous past posts about this subject.

The basic idea behind these ratios is that the higher the ratio, the more solid the bank is in financial strength, the greater it's ability to absorb losses.  BSP's own minimum for most of these ratios is 6.00 but it generally recommends a minimum of 10.00, especially for large and more systemically important banks (those that are Too Big To Fail or TBTF for short).


Every quarter, several Philippine Banks do not meet these guidelines. As of September 30, 2017, the banks that failed to meet BSP's recommended minimum capital requirements are as follows:


TOTAL CAR:
  1. Bataan Savings and Loan Bank (Total CAR of 0.00)
  2. Merchants Savings & Loan Association Inc (Total CAR of 0.00)
  3.  Philippine Postal Savings Bank Inc (Total CAR of 6.71)
  4. United Coconut Planters Bank (Total CAR of 8.01)
  5. The Palawan Bank (Total CAR of 9.34)
 
TIER ONE CAR

Nine banks reported Tier One CAR of 0.00 as of September 30, 2017.  Of those that did report Tier One CAR greater than 0.00, five have less than the BSP-recommended Tier One CARs of 10.00. These banks are:

  1. Card SME Bank (Tier One CAR of 3.82)
  2. Philippine Postal Savings Bank Inc (Tier One CAR of 6.37)
  3. Sterling Bank of Asia Inc (Tier One CAR of 7.81)
  4. United Coconut Planters Bank (Tier One CAR of 8.01)
  5. The Palawan Bank (Tier One CAR of 9.44)
 
COMMON EQUITY TIER ONE CAR


The BSP's reporting guidelines on the Common Equity Tier One CAR (CET1) only took effect as of January 1, 2014.  Banks only started reporting this ratio in their Published Statements of Condition for June 30, 2014.  Fifty-one banks reported their CET1 Ratio as 0.00 for September 30, 2017.

However, of those banks that did report a CET1 Ratio other than 0.00, zero banks reported CET1 Ratios below BSP's recommended ratio.

The Total CAR, Tier 1 CAR, and Common Equity Tier 1 CAR of Philippine Banks as of September 30, 2017 is as follows:(Banks that do not meet BSP's minimum capital requirements are highlighted in yellow):


Philippine Banking System
TOTAL CAR
September 30, 2017









Bank Type of Bank Total CAR
BATAAN SAVINGS AND LOAN BANK Thrift Bank 0.00
MERCHANTS SAVINGS & LOAN ASSN INC Thrift Bank 0.00
PHIL POSTAL SAVINGS BANK INC Thrift Bank 6.71
UNITED COCONUT PLANTERS BANK U/KB 8.01
THE PALAWAN BANK (PALAWAN DB) INC Thrift Bank 9.34
EQUICOM SAVINGS BANK INC Thrift Bank 10.96
VILLAGE BANK INC (A THRIFT BANK) Thrift Bank 11.01
LUZON DEVELOPMENT BANK Thrift Bank 11.35
CHINA BANK SAVINGS INC Thrift Bank 11.61
ENTERPRISE BANK INC (A THRIFT BANK) Thrift Bank 11.84
BANK OF THE PHIL ISLANDS U/KB 11.93
PHIL NATIONAL BANK U/KB 11.95
PHILIPPINE VETERANS BANK U/KB 12.60
EAST WEST BANKING CORP U/KB 12.61
STERLING BANK OF ASIA INC (A SAVINGS BANK) Thrift Bank 12.82
LAND BANK OF THE  PHILIPPINES U/KB 12.83
WORLD PARTNERS BANK (A THRIFT BANK) Thrift Bank 13.49
RCBC SAVINGS BANK INC Thrift Bank 13.60
THE BNK OF TOKYO-MITSUBISHI UFJ LTD U/KB 13.65
ASIA UNITED BANK CORPORATION U/KB 14.03
PHIL SAVINGS BANK Thrift Bank 14.19
MAYBANK PHILIPPINES INC U/KB 14.20
MIZUHO BANK LTD - MANILA BRANCH U/KB 14.24
BDO UNIBANK INC U/KB 14.57
UNION BANK OF THE PHILS U/KB 14.66
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK Thrift Bank 14.89
METROPOLITAN BANK & TRUST CO U/KB 15.10
CHINA BANKING CORP U/KB 15.20
RIZAL COMM'L BANKING CORP U/KB 15.48
DEVELOPMENT BANK OF THE PHIL U/KB 15.50
BANK OF CHINA LIMITED U/KB 15.83
STANDARD CHARTERED BANK U/KB 15.93
PHIL BANK OF COMMUNICATIONS U/KB 16.06
UCPB SAVINGS BANK Thrift Bank 16.18
PRODUCERS SAVINGS BANK CORPORATION Thrift Bank 16.32
BPI FAMILY SAVINGS BANK INC Thrift Bank 16.57
CITY SAVINGS BANK INC Thrift Bank 16.58
MALAYAN BANK SAVINGS AND MORT BANK INC Thrift Bank 16.94
ANZ BANKING GROUP LTD U/KB 17.17
DEUTSCHE BANK AG U/KB 17.32
BANGKO KABAYAN INC Thrift Bank 17.57
CITIBANK, N.A. U/KB 17.63
BANK OF MAKATI (A SAVINGS BANK) INC Thrift Bank 17.71
SECURITY BANK CORP U/KB 17.90
FARMERS SAVINGS & LOAN BANK INC Thrift Bank 18.10
BDO PRIVATE BANK, INC. U/KB 18.23
BATAAN DEVELOPMENT BANK Thrift Bank 18.25
KEB HANA BANK - MANILA BRANCH U/KB 18.40
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS Thrift Bank 18.84
CTBC BANK (PHILIPPINES) CORP U/KB 19.46
CARD SME BANK INC A THRIFT BANK Thrift Bank 20.26
MEGA INT'L COMM'L BANK CO LTD U/KB 20.36
HONGKONG & SHANGHAI BANKING CORP U/KB 20.44
CITYSTATE SAVINGS BANK INC Thrift Bank 20.59
BANK OF COMMERCE U/KB 20.71
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) Thrift Bank 20.74
INTER-ASIA DEVELOPMENT BANK Thrift Bank 21.25
HIYAS BANKING CORPORATION Thrift Bank 21.56
ROBINSONS BANK CORPORATION U/KB 21.59
1ST VALLEY BANK INC A DEVELOPMENT BANK Thrift Bank 22.39
MARITIME SAVINGS BANK CORPORATION Thrift Bank 22.53
WEALTH DEVELOPMENT BANK CORPORATION Thrift Bank 22.96
SUN SAVINGS BANK INC Thrift Bank 23.62
BUSINESS AND CONSUMERS BANK (A DB) Thrift Bank 25.71
PNB SAVINGS BANK Thrift Bank 26.22
DUMAGUETE CITY DEV BANK INC Thrift Bank 26.87
JP MORGAN CHASE BANK NATIONAL ASSN. U/KB 27.47
LEGAZPI SAVINGS BANK INC Thrift Bank 28.23
FIRST CONSOLIDATED BANK INC (A PDB) Thrift Bank 28.80
UNIVERSITY SAVINGS BANK INC Thrift Bank 29.47
LIFE SAVINGS BANK INC Thrift Bank 30.11
BPI DIRECT BANKO INC Thrift Bank 32.58
METRO CEBU PUBLIC SAVINGS BANK Thrift Bank 33.59
PAMPANGA DEVELOPMENT BANK Thrift Bank 33.91
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK Thrift Bank 33.92
LEMERY SAVINGS & LOAN BANK, INC. Thrift Bank 34.94
HSBC SAVINGS BANK PHILIPPINES Thrift Bank 36.38
BANGKOK BANK PUBLIC CO LTD U/KB 37.68
CORDILLERA SAVINGS BANK INC Thrift Bank 38.46
PHIL TRUST COMPANY U/KB 41.12
MALASIQUI PROGRESSIVE SLB, INC Thrift Bank 42.29
NORTHPOINT DEV'T BANK INC Thrift Bank 42.83
BANK OF AMERICA N.A. U/KB 44.87
PACIFIC ACE SAVINGS BANK INC Thrift Bank 52.43
ALLBANK Thrift Bank 56.11
YUANTA SAVINGS BANK PHILIPPINES INC Thrift Bank 56.93
BANK ONE SAVINGS AND TRUST CORP. Thrift Bank 58.91
QUEZON COCONUT BANK INC (A THRIFT BANK) Thrift Bank 59.28
PHIL STAR DEVELOPMENT BANK INC Thrift Bank 62.25
CENTURY SAVINGS BANK CORPORATION Thrift Bank 79.74
SUMITOMO MITSUI BANKING CORPORATION - MANILA BRANCH U/KB 87.30
SHINHAN BANK - MANILA BRANCH U/KB 91.29
HUA NAN COMMERCIAL BANK LTD MANILA BRANCH U/KB 96.73
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS U/KB 97.82
INDUSTRIAL BANK OF KOREA MANILA BRANCH U/KB 108.61
UNITED OVERSEAS BANK LIMITED MANILA BRANCH U/KB 120.03
ISLA BANK(A THRIFT BANK) INC Thrift Bank 129.62
CATHAY UNITED BANK CO LTD - MANILA BRANCH U/KB 172.88
FIRST COMMERCIAL BANK U/KB 297.80
ING BANK N.V. U/KB NA
MICROFINANCE MAXIMUM SB INC Thrift Bank NA



Philippine Banking System
Tier One CAR
September 30, 2017









Bank Type of Bank Tier One CAR
1ST VALLEY BANK INC A DEVELOPMENT BANK Thrift Bank 0.00
BATAAN SAVINGS AND LOAN BANK Thrift Bank 0.00
BUSINESS AND CONSUMERS BANK (A DB) Thrift Bank 0.00
ENTERPRISE BANK INC (A THRIFT BANK) Thrift Bank 0.00
EQUICOM SAVINGS BANK INC Thrift Bank 0.00
INTER-ASIA DEVELOPMENT BANK Thrift Bank 0.00
MARITIME SAVINGS BANK CORPORATION Thrift Bank 0.00
MERCHANTS SAVINGS & LOAN ASSN INC Thrift Bank 0.00
ALLBANK Thrift Bank 0.00
CARD SME BANK INC A THRIFT BANK Thrift Bank 3.82
PHIL POSTAL SAVINGS BANK INC Thrift Bank 6.37
STERLING BANK OF ASIA INC (A SAVINGS BANK) Thrift Bank 7.81
UNITED COCONUT PLANTERS BANK U/KB 8.01
THE PALAWAN BANK (PALAWAN DB) INC Thrift Bank 9.44
EAST WEST BANKING CORP U/KB 10.38
LUZON DEVELOPMENT BANK Thrift Bank 10.47
CHINA BANK SAVINGS INC Thrift Bank 10.56
VILLAGE BANK INC (A THRIFT BANK) Thrift Bank 10.64
ASIA UNITED BANK CORPORATION U/KB 10.77
BANK OF THE PHIL ISLANDS U/KB 11.02
PHIL NATIONAL BANK U/KB 11.20
PHIL SAVINGS BANK Thrift Bank 11.36
DEVELOPMENT BANK OF THE PHIL U/KB 11.40
UNION BANK OF THE PHILS U/KB 11.76
RIZAL COMM'L BANKING CORP U/KB 11.78
LAND BANK OF THE  PHILIPPINES U/KB 12.01
PHILIPPINE VETERANS BANK U/KB 12.07
METROPOLITAN BANK & TRUST CO U/KB 12.19
RCBC SAVINGS BANK INC Thrift Bank 12.85
THE BNK OF TOKYO-MITSUBISHI UFJ LTD U/KB 12.86
PHIL BANK OF COMMUNICATIONS U/KB 13.07
BDO UNIBANK INC U/KB 13.11
MAYBANK PHILIPPINES INC U/KB 13.25
WORLD PARTNERS BANK (A THRIFT BANK) Thrift Bank 13.26
MIZUHO BANK LTD - MANILA BRANCH U/KB 13.28
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK Thrift Bank 13.99
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS Thrift Bank 14.24
CHINA BANKING CORP U/KB 14.40
UNIVERSITY SAVINGS BANK INC Thrift Bank 14.73
BANK OF CHINA LIMITED U/KB 15.24
UCPB SAVINGS BANK Thrift Bank 15.38
STANDARD CHARTERED BANK U/KB 15.46
SECURITY BANK CORP U/KB 15.61
BPI FAMILY SAVINGS BANK INC Thrift Bank 15.71
PRODUCERS SAVINGS BANK CORPORATION Thrift Bank 15.81
CITY SAVINGS BANK INC Thrift Bank 15.85
MALAYAN BANK SAVINGS AND MORT BANK INC Thrift Bank 16.45
ANZ BANKING GROUP LTD U/KB 16.65
DEUTSCHE BANK AG U/KB 16.76
CITIBANK, N.A. U/KB 16.91
BANGKO KABAYAN INC Thrift Bank 17.05
BANK OF MAKATI (A SAVINGS BANK) INC Thrift Bank 17.71
KEB HANA BANK - MANILA BRANCH U/KB 17.92
BDO PRIVATE BANK, INC. U/KB 17.98
CTBC BANK (PHILIPPINES) CORP U/KB 18.59
BATAAN DEVELOPMENT BANK Thrift Bank 19.27
MEGA INT'L COMM'L BANK CO LTD U/KB 19.41
HONGKONG & SHANGHAI BANKING CORP U/KB 19.76
FARMERS SAVINGS & LOAN BANK INC Thrift Bank 19.80
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) Thrift Bank 19.95
CITYSTATE SAVINGS BANK INC Thrift Bank 19.97
BANK OF COMMERCE U/KB 19.99
ROBINSONS BANK CORPORATION U/KB 20.78
HIYAS BANKING CORPORATION Thrift Bank 21.20
WEALTH DEVELOPMENT BANK CORPORATION Thrift Bank 22.15
SUN SAVINGS BANK INC Thrift Bank 22.75
PNB SAVINGS BANK Thrift Bank 25.49
DUMAGUETE CITY DEV BANK INC Thrift Bank 26.38
JP MORGAN CHASE BANK NATIONAL ASSN. U/KB 27.27
LEGAZPI SAVINGS BANK INC Thrift Bank 27.52
FIRST CONSOLIDATED BANK INC (A PDB) Thrift Bank 27.91
LIFE SAVINGS BANK INC Thrift Bank 29.93
BPI DIRECT BANKO INC Thrift Bank 32.84
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK Thrift Bank 33.44
METRO CEBU PUBLIC SAVINGS BANK Thrift Bank 33.52
LEMERY SAVINGS & LOAN BANK, INC. Thrift Bank 34.53
HSBC SAVINGS BANK PHILIPPINES Thrift Bank 35.67
BANGKOK BANK PUBLIC CO LTD U/KB 36.70
CORDILLERA SAVINGS BANK INC Thrift Bank 37.96
PHIL TRUST COMPANY U/KB 40.78
MALASIQUI PROGRESSIVE SLB, INC Thrift Bank 42.29
NORTHPOINT DEV'T BANK INC Thrift Bank 42.42
BANK OF AMERICA N.A. U/KB 44.35
YUANTA SAVINGS BANK PHILIPPINES INC Thrift Bank 56.93
BANK ONE SAVINGS AND TRUST CORP. Thrift Bank 58.30
QUEZON COCONUT BANK INC (A THRIFT BANK) Thrift Bank 58.49
PHIL STAR DEVELOPMENT BANK INC Thrift Bank 62.15
PACIFIC ACE SAVINGS BANK INC Thrift Bank 74.25
CENTURY SAVINGS BANK CORPORATION Thrift Bank 78.81
SUMITOMO MITSUI BANKING CORPORATION - MANILA BRANCH U/KB 86.33
SHINHAN BANK - MANILA BRANCH U/KB 90.78
HUA NAN COMMERCIAL BANK LTD MANILA BRANCH U/KB 96.73
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS U/KB 97.36
INDUSTRIAL BANK OF KOREA MANILA BRANCH U/KB 107.87
UNITED OVERSEAS BANK LIMITED MANILA BRANCH U/KB 119.32
ISLA BANK(A THRIFT BANK) INC Thrift Bank 129.23
PAMPANGA DEVELOPMENT BANK Thrift Bank 148.20
CATHAY UNITED BANK CO LTD - MANILA BRANCH U/KB 171.94
FIRST COMMERCIAL BANK U/KB 297.46
ING BANK N.V. U/KB NA
MICROFINANCE MAXIMUM SB INC Thrift Bank NA




Philippine Banking System
Common Tier 1 Ratio
September 30, 2017









Bank Type of Bank Common Tier 1 Ratio
1ST VALLEY BANK INC A DEVELOPMENT BANK Thrift Bank 0.00
ALLBANK Thrift Bank 0.00
BANGKO KABAYAN INC Thrift Bank 0.00
BANK OF AMERICA N.A. U/KB 0.00
BANK OF CHINA LIMITED U/KB 0.00
BANK OF MAKATI (A SAVINGS BANK) INC Thrift Bank 0.00
BANK ONE SAVINGS AND TRUST CORP. Thrift Bank 0.00
BATAAN DEVELOPMENT BANK Thrift Bank 0.00
BATAAN SAVINGS AND LOAN BANK Thrift Bank 0.00
BUSINESS AND CONSUMERS BANK (A DB) Thrift Bank 0.00
CARD SME BANK INC A THRIFT BANK Thrift Bank 0.00
CENTURY SAVINGS BANK CORPORATION Thrift Bank 0.00
CITYSTATE SAVINGS BANK INC Thrift Bank 0.00
CORDILLERA SAVINGS BANK INC Thrift Bank 0.00
DUMAGUETE CITY DEV BANK INC Thrift Bank 0.00
ENTERPRISE BANK INC (A THRIFT BANK) Thrift Bank 0.00
EQUICOM SAVINGS BANK INC Thrift Bank 0.00
FARMERS SAVINGS & LOAN BANK INC Thrift Bank 0.00
FIRST CONSOLIDATED BANK INC (A PDB) Thrift Bank 0.00
HIYAS BANKING CORPORATION Thrift Bank 0.00
INTER-ASIA DEVELOPMENT BANK Thrift Bank 0.00
ISLA BANK(A THRIFT BANK) INC Thrift Bank 0.00
LEMERY SAVINGS & LOAN BANK, INC. Thrift Bank 0.00
LIFE SAVINGS BANK INC Thrift Bank 0.00
LUZON DEVELOPMENT BANK Thrift Bank 0.00
MALASIQUI PROGRESSIVE SLB, INC Thrift Bank 0.00
MALAYAN BANK SAVINGS AND MORT BANK INC Thrift Bank 0.00
MARITIME SAVINGS BANK CORPORATION Thrift Bank 0.00
METRO CEBU PUBLIC SAVINGS BANK Thrift Bank 0.00
NORTHPOINT DEV'T BANK INC Thrift Bank 0.00
PACIFIC ACE SAVINGS BANK INC Thrift Bank 0.00
PAMPANGA DEVELOPMENT BANK Thrift Bank 0.00
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC) Thrift Bank 0.00
PHIL BANK OF COMMUNICATIONS U/KB 0.00
PHIL POSTAL SAVINGS BANK INC Thrift Bank 0.00
PHIL STAR DEVELOPMENT BANK INC Thrift Bank 0.00
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK Thrift Bank 0.00
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS Thrift Bank 0.00
PRODUCERS SAVINGS BANK CORPORATION Thrift Bank 0.00
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK Thrift Bank 0.00
QUEZON COCONUT BANK INC (A THRIFT BANK) Thrift Bank 0.00
STERLING BANK OF ASIA INC (A SAVINGS BANK) Thrift Bank 0.00
SUN SAVINGS BANK INC Thrift Bank 0.00
THE PALAWAN BANK (PALAWAN DB) INC Thrift Bank 0.00
UNITED COCONUT PLANTERS BANK U/KB 0.00
UNITED OVERSEAS BANK LIMITED MANILA BRANCH U/KB 0.00
UNIVERSITY SAVINGS BANK INC Thrift Bank 0.00
VILLAGE BANK INC (A THRIFT BANK) Thrift Bank 0.00
WEALTH DEVELOPMENT BANK CORPORATION Thrift Bank 0.00
WORLD PARTNERS BANK (A THRIFT BANK) Thrift Bank 0.00
YUANTA SAVINGS BANK PHILIPPINES INC Thrift Bank 0.00
EAST WEST BANKING CORP U/KB 10.38
PHILIPPINE VETERANS BANK U/KB 10.51
CHINA BANK SAVINGS INC Thrift Bank 10.56
ASIA UNITED BANK CORPORATION U/KB 10.77
BANK OF THE PHIL ISLANDS U/KB 11.02
PHIL NATIONAL BANK U/KB 11.20
PHIL SAVINGS BANK Thrift Bank 11.36
DEVELOPMENT BANK OF THE PHIL U/KB 11.40
UNION BANK OF THE PHILS U/KB 11.76
RIZAL COMM'L BANKING CORP U/KB 11.78
LAND BANK OF THE  PHILIPPINES U/KB 12.01
METROPOLITAN BANK & TRUST CO U/KB 12.19
BDO UNIBANK INC U/KB 12.83
RCBC SAVINGS BANK INC Thrift Bank 12.85
THE BNK OF TOKYO-MITSUBISHI UFJ LTD U/KB 12.86
MAYBANK PHILIPPINES INC U/KB 13.25
MIZUHO BANK LTD - MANILA BRANCH U/KB 13.28
BDO PRIVATE BANK, INC. U/KB 13.74
CHINA BANKING CORP U/KB 14.40
UCPB SAVINGS BANK Thrift Bank 15.38
STANDARD CHARTERED BANK U/KB 15.46
SECURITY BANK CORP U/KB 15.61
BPI FAMILY SAVINGS BANK INC Thrift Bank 15.71
CITY SAVINGS BANK INC Thrift Bank 15.85
ANZ BANKING GROUP LTD U/KB 16.65
DEUTSCHE BANK AG U/KB 16.76
CITIBANK, N.A. U/KB 16.91
KEB HANA BANK - MANILA BRANCH U/KB 17.92
CTBC BANK (PHILIPPINES) CORP U/KB 18.59
MEGA INT'L COMM'L BANK CO LTD U/KB 19.41
HONGKONG & SHANGHAI BANKING CORP U/KB 19.76
BANK OF COMMERCE U/KB 19.99
ROBINSONS BANK CORPORATION U/KB 20.78
PNB SAVINGS BANK Thrift Bank 25.48
JP MORGAN CHASE BANK NATIONAL ASSN. U/KB 27.27
LEGAZPI SAVINGS BANK INC Thrift Bank 27.52
BPI DIRECT BANKO INC Thrift Bank 32.84
HSBC SAVINGS BANK PHILIPPINES Thrift Bank 35.67
BANGKOK BANK PUBLIC CO LTD U/KB 36.70
PHIL TRUST COMPANY U/KB 40.78
MERCHANTS SAVINGS & LOAN ASSN INC Thrift Bank 46.53
SUMITOMO MITSUI BANKING CORPORATION - MANILA BRANCH U/KB 86.33
SHINHAN BANK - MANILA BRANCH U/KB 90.78
HUA NAN COMMERCIAL BANK LTD MANILA BRANCH U/KB 96.73
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS U/KB 97.36
INDUSTRIAL BANK OF KOREA MANILA BRANCH U/KB 107.87
CATHAY UNITED BANK CO LTD - MANILA BRANCH U/KB 171.94
FIRST COMMERCIAL BANK U/KB 297.46
ING BANK N.V. U/KB NA
MICROFINANCE MAXIMUM SB INC Thrift Bank NA


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