The Current State of the Philippine Rural and Cooperative Banking System

This post is an attempt to estimate the current financial health of the Rural and Cooperative Banking System.  Although the BSP does not publish the Statements of Condition of each rural and cooperative bank, they do give out consolidated statistics on www.bsp.gov.ph.  The latest statistics are as of March 31, 2011.

On an overall basis, rural and cooperative banks are relatively healthy.  However, the ratio of their distressed assets to their capital cushion remains elevated at 78.22% as of March 31, 2011.  The ratio for rural banks, in particular,  is slightly lower at 74.87%.  Cooperative banks, on the other hand, are in the danger zone (ratio > 100%), with a ratio of 119.90% as of March 31, 2011.  Fortunately, they only have  a miniscule PHP 3.428 billion in distressed assets and do not pose any systemic risk to the Philippine banking system.

Philippine Rural and Cooperative Banking System
Total Distressed Assets/ Total Capital Cushion
March 31, 2011
		March 31, 2011
	Total Distressed Assets (In PHP Million)	Total Capital Cushion (In PHP Million)	Distressed Assets/ Total Capital Cushion (In %)
Rural Banks	26,631	35,568	74.87%
Cooperative Banks	3,428	2,859	119.90%
Total	30,059	38,427	78.22%

Slight Deterioration in the Solvency of Listed Philippine Banks

Based on the individual Published Statements of Condition for Listed Philippine Banks, the Total Distressed Assets increased by PHP 14.625 billion or 4.80% from June 30, 2011 to September 30, 2011.  This was slightly offset by an increase of PHP 9.356 billion or 2.19% in the Total Capital Cushion of these banks during the same period.  As a result, the Listed Banks Ratio of Distressed Assets to Total Capital Cushion increased by 1.82% from 71.32% as of June 30, 2011 to 73.14% as of September 30, 2011.

Please note that the ratio of Distressed Assets to Total Capital Cushion of two banks on this list are above the borderline level of 100.00%.  These banks have been borderline insolvent since June 30, 2011.  The banks that exhibited significant increases in their insolvency ratios were Export and Industry Bank (71.21%), China Banking Corporation (9.34%), Metropolitan Bank and Trust Company (6.46%) and Security Bank Corporation (3.30%).  Only two banks showed drops in their insolvency ratios, Philippine Savings Bank (-0.22%) and Union Bank of the Philippines (-0.39%).

Listed Philippine Banks
Total Distressed Assets/ Total Capital Cushion
June 30, 2011 to September 30, 2011
	June 30, 2011	September 30, 2011	Variance		% Variance
Banco de Oro Unibank	59.95%	61.04%	1.09%		1.81%
Bank of the Philippine Islands	68.23%	69.39%	1.16%		1.71%
China Banking Corporation	53.51%	58.51%	5.00%		9.34%
Export and Industry Bank	862.13%	1476.07%	613.94%		71.21%
Metropolitan Bank and Trust Company	67.10%	71.43%	4.33%		6.46%
Philippine Savings Bank	79.47%	79.30%	-0.17%		-0.22%
Rizal Commercial Banking Corporation	88.89%	89.21%	0.31%		0.35%
Security Bank Corporation	46.50%	48.03%	1.53%		3.30%
Union Bank of the Philippines	101.23%	100.84%	-0.39%		-0.39%

Listed Philippine Banks
Total Distressed Assets/ Total Capital Cushion
June 30, 2011 to September 30, 2011
		June 30, 2011				September 30, 2011				Variance
	Total Distressed Assets (In PHP Billion)	Total Capital Cushion (In PHP Billion)	Distressed Assets/ Total Capital Cushion (In %)		Total Distressed Assets (In PHP Billion)	Total Capital Cushion (In PHP Billion)	Distressed Assets/ Total Capital Cushion (In %)		Total Distressed Assets (In PHP Billion)	Total Capital Cushion (In PHP Billion)	Distressed Assets/ Total Capital Cushion (In %)
Export and Industry Bank	14.458	1.677	862.13%		13.388	.907	1476.07%		-1.070	-.770	613.94%
Union Bank of the Philippines	38.686	38.215	101.23%		38.622	38.301	100.84%		-.064	.086	-0.39%
Rizal Commercial Banking Corporation	29.423	33.099	88.89%		32.720	36.679	89.21%		3.297	3.580	0.31%
Philippine Savings Bank	11.425	14.150	79.47%		11.292	14.240	79.30%		.047	.090	-0.17%
Metropolitan Bank and Trust Company	61.204	91.212	67.10%		63.939	89.510	71.43%		2.735	-1.702	4.33%
Bank of the Philippine Islands	52.695	77.235	68.23%		57.620	83.386	69.39%		5.167	6.151	1.16%
Banco de Oro Unibank	65.864	109.861	59.95%		67.522	110.622	61.04%		1.658	.761	1.09%
China Banking Corporation	18.929	35.375	53.51%		21.369	36.523	58.51%		2.440	1.148	5.00%
Security Bank Corporation	12.417	26.704	46.50%		12.832	26.716	48.03%		.415	.012	1.53%
Total	304.921	427.528	71.32%		319.546	436.884	73.14%		14.625	9.356	1.82%

Borderline Thrift Banks Still Borderline

Based on the individual Published Statements of Condition for the Thrift Banking Industry (from www.bsp.gov.ph), Total Distressed Assets of the thrift banks increased by PHP 2.7 billion of 2.9% from December 31, 2010 to March 31, 2011.  This was offset by an increase of PHP 7.2 billion (or 10.1%)  in the Total Capital Cushion of the Thrift Banks during the same period.  As a result, the Thrift Bank's Ratio of Distressed Assets to Total Capital Cushion declined by 8.52%, from 130.22% as of December 31, 2010 to 121.70% as of March 31, 2011.

Please note that the overall ratio of 121.70% is still way above the borderline level of 100%.  This ratio has been skewed upward by the presence of around 25 thrift banks that are above the 100% borderline level.  Although levels have improved somewhat, most of the banks that were borderline insolvent as of December 31, 2010 still remained borderline insolvent as of March 31, 2011.  The borderline banks that exhibited a significant drop in their Total Distressed Assets/Total Capital Cushion Ratios include Legaspi Savings Bank (20.3% drop) and City Savings Bank (32.4% drop).  The borderline banks that exhibited a significant increase in this ratio include CityState Savings Bank (342.9% increase), and the now defunct LBC Development Bank (24.0% increase).

Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
December 31, 2010 to March 31, 2011
	December 31, 2010	March 31, 2011	Variance	% Variance
CityState Savings Bank	39.18%	173.56%	134.37%	342.94%
BPI Globe Bank Inc. Savings Bank	5.38%	8.32%	2.94%	54.78%
LBC Development Bank	567.42%	703.67%	136.25%	24.01%
Opportunity Microfinance Bank	129.43%	152.68%	23.26%	17.97%
Maritime SLA Inc.	19.95%	23.43%	3.48%	17.44%
Citibank Savings Inc.	91.00%	99.06%	8.06%	8.86%
Hiyas Savings & Loan Bank	156.01%	167.25%	11.24%	7.21%
GSIS Family Bank	286.92%	306.51%	19.59%	6.83%
Dumaguete City Development Bank	132.38%	140.79%	8.41%	6.35%
Bataan SLA	10.98%	11.57%	0.59%	5.38%
Malayan Bank Savings & Mortgage Bank	103.44%	108.84%	5.40%	5.22%
Century Savings Bank	2.81%	2.93%	0.13%	4.46%
Iloilo City Development Bank	283.69%	294.71%	11.02%	3.89%
United Overseas Bank Philippines	68.26%	70.78%	2.52%	3.70%
Bataan Development Bank	226.07%	233.55%	7.48%	3.31%
China Bank Savings	381.64%	392.93%	11.28%	2.96%
Microfinance Maximum SB (Maxbank)	49.89%	51.30%	1.41%	2.82%
Progress SLA	6.59%	6.70%	0.11%	1.70%
Northpoint Development Bank	45.22%	45.72%	0.50%	1.10%
Luzon Development Bank	103.77%	104.48%	0.71%	0.69%
UCPB Savings Bank	43.21%	43.42%	0.21%	0.48%
Cordillera Savings Bank	72.68%	72.96%	0.28%	0.38%
Malasiqui Progressive SLB	36.32%	36.31%	-0.01%	-0.03%
Pacific Ace Savings Bank	18.87%	18.83%	-0.04%	-0.21%
Metro Cebu Public Savings Bank	87.66%	87.44%	-0.22%	-0.25%
Sampaguita SLA, Inc.	54.38%	54.00%	-0.39%	-0.71%
Isla bank (A Thrift Bank) Inc.	9.02%	8.95%	-0.07%	-0.77%
Business & Consumers Bank A DB	185.14%	183.31%	-1.83%	-0.99%
Dungganon Bank	112.33%	111.01%	-1.31%	-1.17%
Village SLA	823.93%	813.24%	-10.69%	-1.30%
University SLA	154.21%	151.59%	-2.62%	-1.70%
Pridestar Development Bank	61.47%	60.30%	-1.17%	-1.90%
Optimum Development Bank	21.28%	20.80%	-0.48%	-2.26%
Premiere Development Bank	143.89%	140.05%	-3.84%	-2.67%
Equicom Savings Bank	149.92%	145.38%	-4.54%	-3.03%
Wealth Bank	80.48%	78.00%	-2.49%	-3.09%
Pampanga Development Bank	73.19%	70.33%	-2.87%	-3.92%
Allied Savings Bank	36.47%	35.04%	-1.43%	-3.92%
BDO Elite Savings Bank	6.62%	6.35%	-0.27%	-4.11%
Tong Yang Savings Bank Inc.	79.85%	76.31%	-3.54%	-4.43%
EIB Savings Bank Inc.	9.18%	8.66%	-0.52%	-5.70%
Lemery Savings & Loan Bank, Inc.	48.16%	45.40%	-2.76%	-5.74%
Planters Development Bank	344.85%	322.90%	-21.95%	-6.36%
Philippine Postal Savings Bank	111.34%	103.29%	-8.05%	-7.23%
Philippine Savings Bank	83.15%	76.58%	-6.57%	-7.90%
Real Bank (A Thrift Bank) Inc.	868.10%	788.74%	-79.36%	-9.14%
Life Savings Bank	59.44%	53.51%	-5.93%	-9.98%
Sterling Bank of Asia Inc. (A SB)	50.13%	44.70%	-5.43%	-10.83%
Producers Savings Bank Corporation	102.49%	91.05%	-11.44%	-11.16%
Farmers Savings and Loan Association	228.64%	202.55%	-26.09%	-11.41%
The Palawan Development Bank	513.90%	449.30%	-64.60%	-12.57%
BPI Family Savings Bank	92.13%	79.26%	-12.86%	-13.96%
RCBC Savings Bank Inc.	166.80%	140.74%	-26.06%	-15.63%
First Consolidated Bank Inc.	75.89%	63.11%	-12.79%	-16.85%
HSBC Savings Bank (Philippines) Inc.	16.15%	13.31%	-2.84%	-17.60%
Quezon Coconut Producers SLB	44.00%	35.97%	-8.03%	-18.25%
Merchants Savings & Loan Association	6.31%	5.14%	-1.17%	-18.58%
Robinsons Savings Bank	50.59%	40.56%	-10.03%	-19.83%
Legaspi Savings Bank	2170.01%	1730.43%	-439.58%	-20.26%
Liberty Savings & Loan	87.06%	69.29%	-17.77%	-20.41%
BPI Direct Savings Bank	20.02%	15.39%	-4.63%	-23.15%
Tower Development Bank	75.62%	57.03%	-18.59%	-24.58%
City Savngs Bank	769.30%	520.21%	-249.09%	-32.38%
Philippine Business Bank	98.94%	66.34%	-32.60%	-32.95%
World Partners Bank	59.37%	38.05%	-21.32%	-35.91%
Bank One Savings and Trust Corp.	20.00%	12.25%	-7.75%	-38.75%
The Queen City Development Bank	37.85%	22.25%	-15.60%	-41.21%

Non-borderline banks that exhibited the greatest improvements in their ratios were as follows;

1. Liberty Savings & Loan
2. BPI Direct Savings Bank
3. Tower Development Bank
4. Philippine Business Bank
5. World Partners Bank
6. Bank One Savings and Trust Corp.
7. The Queen City Development Bank

Non-borderline banks that exhibited significant deteriorations in their ratios were as follows:

1. BPI Globe Bank Inc. Savings Bank
2. Maritime SLA Inc.

Philippine Thrift Banking System
Total Distressed Assets/ Total Capital Cushion
December 31, 2010 to March 31, 2011
		December 31, 2010				March 31, 2011				Variance
	Total Distressed Assets (In PHP)1	Total Capital Cushion (In PHP)2	Distressed Assets/ Total Capital Cushion (In %)3		Total Distressed Assets (In PHP)1	Total Capital Cushion (In PHP)2	Distressed Assets/ Total Capital Cushion (In %)3		Total Distressed Assets (In PHP)1	Total Capital Cushion (In PHP)2	Distressed Assets/ Total Capital Cushion (In %)3
Legaspi Savings Bank	790,787,568.23	36,441,639.05	2170.01%		798,630,111.18	46,152,061.13	1730.43%		7,842,542.95	9,710,422.08	-439.58%
Village SLA	577,043,128.17	70,035,289.50	823.93%		593,227,159.00	72,946,206.19	813.24%		16,184,030.83	2,910,916.69	-10.69%
Real Bank (A Thrift Bank) Inc.	9,954,853,974.90	1,146,746,391.09	868.10%		9,851,599,352.69	1,249,036,156.19	788.74%		-103,254,622.21	102,289,765.10	-79.36%
LBC Development Bank	4,048,655,003.33	713,516,676.64	567.42%		5,038,581,463.69	716,044,399.24	703.67%		989,926,460.36	2,527,722.60	136.25%
City Savngs Bank	6,911,180,484.23	898,376,680.13	769.30%		7,041,887,200.09	1,353,669,542.94	520.21%		130,706,715.86	455,292,862.81	-249.09%
The Palawan Development Bank	109,060,886.46	21,222,213.57	513.90%		96,953,206.81	21,578,520.32	449.30%		-12,107,679.65	356,306.75	-64.60%
China Bank Savings	2,703,868,715.65	708,478,836.05	381.64%		2,779,893,794.60	707,482,430.32	392.93%		76,025,078.95	-996,405.73	11.28%
Planters Development Bank	13,204,820,165.74	3,829,162,254.99	344.85%		13,533,950,955.06	4,191,355,884.93	322.90%		329,130,789.32	362,193,629.94	-21.95%
GSIS Family Bank	2,108,934,873.50	735,035,754.66	286.92%		2,215,126,011.31	722,703,846.64	306.51%		106,191,137.81	-12,331,908.02	19.59%
Iloilo City Development Bank	164,491,227.09	57,982,389.96	283.69%		177,436,124.14	60,206,324.58	294.71%		12,944,897.05	2,223,934.62	11.02%
Bataan Development Bank	157,591,208.54	69,709,822.28	226.07%		166,967,608.04	71,491,113.71	233.55%		9,376,399.50	1,781,291.43	7.48%
Farmers Savings and Loan Association	255,557,581.90	111,770,882.28	228.64%		232,836,973.06	114,952,036.06	202.55%		-22,720,608.84	3,181,153.78	-26.09%
Business & Consumers Bank A DB	142,609,963.06	77,028,484.73	185.14%		145,179,649.34	79,199,417.20	183.31%		2,569,686.28	2,170,932.47	-1.83%
CityState Savings Bank	315,909,914.49	806,239,256.05	39.18%		1,400,328,486.11	806,839,256.05	173.56%		1,084,418,571.62	600,000.00	134.37%
Hiyas Savings & Loan Bank	247,645,321.52	158,736,197.28	156.01%		265,452,938.70	158,711,645.03	167.25%		17,807,617.18	-24,552.25	11.24%
Opportunity Microfinance Bank	175,764,860.63	135,802,109.03	129.43%		192,736,268.36	126,233,191.43	152.68%		16,971,407.73	-9,568,917.60	23.26%
University SLA	355,031,641.89	230,220,475.89	154.21%		365,424,986.56	241,060,100.32	151.59%		10,393,344.67	10,839,624.43	-2.62%
Equicom Savings Bank	704,023,800.85	469,594,025.42	149.92%		654,064,843.08	449,902,880.38	145.38%		-49,958,957.77	-19,691,145.04	-4.54%
Dumaguete City Development Bank	271,148,295.04	204,824,439.66	132.38%		272,395,329.87	193,474,401.90	140.79%		1,247,034.83	-11,350,037.76	8.41%
RCBC Savings Bank Inc.	10,930,316,206.04	6,552,835,277.90	166.80%		10,694,840,952.48	7,599,027,233.14	140.74%		-235,475,253.56	1,046,191,955.24	-26.06%
Premiere Development Bank	1,313,359,662.84	912,783,669.96	143.89		1,287,037,216.65	918,978,255.91	140.05%		-26,322,446.19	6,194.585.95	-3.83%
Dungganon Bank	66,486,816.72	59,191,429.00	112.33%		67,114,414.83	60,457,554.56	111.01%		627,598.11	1,266,125.56	-1.31%
Malayan Bank Savings & Mortgage Bank	1,036,493,541.66	1,002,030,653.05	103.44%		1,085,088,462.39	996,941,501.60	108.84%		48,594,920.73	-5,089,151.45	5.40%
Luzon Development Bank	436,163,079.47	420,334,380.17	103.77%		477,413,342.50	456,953,152.00	104.48%		41,250,263.03	36,618,771.83	0.71%
Philippine Postal Savings Bank	590,501,600.10	530,342,731.83	111.34%		571,294,747.74	553,099,431.39	103.29%		-19,206,852.36	22,756,699.56	-8.05%
Citibank Savings Inc.	3,606,546,835.07	3,963,330,681.74	91.00%		3,641,378,536.57	3,675,927,419.81	99.06%		34,831,701.50	-287,403,261.93	8.06%
Producers Savings Bank Corporation	435,368,499.59	424,781,801.37	102.49%		481,179,954.20	528,456,241.18	91.05%		45,811,454.61	103,674,439.81	-11.44%
Metro Cebu Public Savings Bank	62,681,149.84	71,505,839.15	87.66%		63,055,090.72	72,112,596.25	87.44%		373,940.88	606,757.10	-0.22%
BPI Family Savings Bank	11,502,835,442.66	12,485,535,541.67	92.13%		11,775,508,662.49	14,855,958,256.88	79.26%		272,673,219.83	2,370,422,715.21	-12.86%
Wealth Bank	308,872,937.46	383,780,751.22	80.48%		299,330,539.41	383,780,751.22	78.00%		-9,542,398.05	0.00	-2.49%
Philippine Savings Bank	10,683,005,572.25	12,847,187,428.93	83.15%		10,860,177,427.02	14,180,778,447.16	76.58%		177,171,854.77	1,333,591,018.23	-6.57%
Tong Yang Savings Bank Inc.	344,928,566.28	431,990,127.62	79.85%		338,576,606.94	443,685,592.60	76.31%		-6,351,959.34	11,695,464.98	-3.54%
Cordillera Savings Bank	86,778,100.36	119,389,723.48	72.68%		86,502,732.68	118,556,006.75	72.96%		-275,367.68	-833,716.73	0.28%
United Overseas Bank Philippines	1,003,700,326.61	1,470,393,906.97	68.26%		1,040,712,097.34	1,470,262,516.31	70.78%		37,011,770.73	-131,390.66	2.52%
Pampanga Development Bank	81,967,250.32	111,985,923.34	73.19%		82,510,420.65	117,322,641.41	70.33%		543,170.33	5,336,718.07	-2.87%
Liberty Savings & Loan	43,654,225.43	50,143,836.27	87.06%		41,524,004.44	59,928,329.41	69.29%		-2,130,220.99	9,784,493.14	-17.77%
Philippine Business Bank	1,884,264,957.92	1,904,439,283.82	98.94%		1,841,274,990.78	2,775,632,541.34	66.34%		-42,989,967.14	871,193,257.52	-32.60%
First Consolidated Bank Inc.	1,034,951,184.84	1,363,683,144.87	75.89%		981,161,467.18	1,554,784,769.47	63.11%		-53,789,717.66	191,101,624.60	-12.79%
Pridestar Development Bank	44,016,527.30	71,601,171.40	61.47%		42,817,731.41	71,002,884.05	60.30%		-1,198,795.89	-598,287.35	-1.17%
Tower Development Bank	79,350,494.02	104,939,329.22	75.62%		59,849,277.51	104,945,435.32	57.03%		-19,501,216.51	6,106.10	-18.59%
Sampaguita SLA, Inc.	38,657,771.38	71,082,533.12	54.38%		38,645,789.03	71,570,976.34	54.00%		-11,982.35	488,443.22	-0.39%
Life Savings Bank	35,172,000.07	59,167,925.68	59.44%		34,367,905.76	64,226,085.27	53.51%		-804,094.31	5,058,159.59	-5.93%
Microfinance Maximum SB (Maxbank)	30,663,335.03	61,461,310.99	49.89%		32,698,325.77	63,741,361.59	51.30%		2,034,990.74	2,280,050.60	1.41%
Northpoint Development Bank	25,863,193.48	57,194,102.23	45.22%		26,731,268.87	58,473,177.23	45.72%		868,075.39	1,279,075.00	0.50%
Lemery Savings & Loan Bank, Inc.	36,137,539.38	75,034,616.55	48.16%		34,063,373.04	75,034,616.55	45.40%		-2,074,166.34	0.00	-2.76%
Sterling Bank of Asia Inc. (A SB)	596,824,755.93	1,190,619,356.86	50.13%		720,860,292.05	1,612,798,867.17	44.70%		124,035,536.12	422,179,510.31	-5.43%
UCPB Savings Bank	814,959,455.76	1,886,042,145.04	43.21%		824,447,663.73	1,898,798,490.84	43.42%		9,488,207.97	12,756,345.80	0.21%
Robinsons Savings Bank	1,170,870,711.81	2,314,318,928.72	50.59%		1,054,429,091.36	2,599,586,008.31	40.56%		-116,441,620.45	285,267,079.59	-10.03%
World Partners Bank	95,390,282.26	160,681,566.86	59.37%		67,472,503.28	177,331,708.61	38.05%		-27,917,778.98	16,650,141.75	-21.32%
Malasiqui Progressive SLB	21,058,505.59	57,973,153.04	36.32%		21,048,584.58	57,973,153.04	36.31%		-9,921.01	0.00	-0.02%
Quezon Coconut Producers SLB	23,896,040.23	54,303,866.14	44.00%		20,594,343.62	57,249,027.19	35.97%		-3,301,696.61	2,945,161.05	-8.03%
Allied Savings Bank	358,775,483.44	983,879,721.95	36.47%		349,223,975.65	996,683,174.47	35.04%		-9,551,507.79	12,803,452.52	-1.43%
Maritime SLA Inc.	13,316,004.88	66,734,039.41	19.95%		15,637,944.69	66,734,039.41	23.43%		2,321,939.81	0.00	3.48%
The Queen City Development Bank	259,528,011.18	685,609,787.74	37.85%		154,556,696.85	694,530,564.40	22.25%		-104,971,314.33	8,920,776.66	-15.60%
Optimum Development Bank	142,488,878.81	669,683,547.67	21.28%		141,863,496.44	682,187,578.12	20.80%		-625,382.37	12,504,030.45	-0.48%
Pacific Ace Savings Bank	12,967,650.24	68,711,003.79	18.87%		13,507,271.13	71,722,910.75	18.83%		539,620.89	3,011,906.96	-0.04%
BPI Direct Savings Bank	124,225,810.48	620,434,936.32	20.02%		104,808,406.42	681,100,718.48	15.39%		-19,417,404.06	60,665,782.16	-4.63%
HSBC Savings Bank (Philippines) Inc.	294,444,104.57	1,822,689,072.79	16.15%		306,361,602.65	2,301,615,321.52	13.31%		11,917,498.08	478,926,248.73	-2.84%
Bank One Savings and Trust Corp.	98,838,353.98	494,240,370.50	20.00%		63,092,255.00	515,107,000.38	12.25%		-35,746,098.98	20,866,629.88	-7.75%
Bataan SLA	8,675,561.43	79,014,317.75	10.98%		9,134,396.80	78,949,231.51	11.57%		458,835.37	-65,086.24	0.59%
Isla bank (A Thrift Bank) Inc.	56,067,036.87	621,455,601.99	9.02%		56,019,093.92	625,758,388.23	8.95%		-47,942.95	4,302,786.24	-0.07%
EIB Savings Bank Inc.	6,417,709.59	69,892,198.75	9.18%		6,393,755.90	73,842,233.73	8.66%		-23,953.69	3,950,034.98	-0.52%
BPI Globe Bank Inc. Savings Bank	19,109,957.15	355,511,236.95	5.38%		27,905,564.04	335,411,294.54	8.32%		8,795,606.89	-20,099,942.41	2.94%
Progress SLA	5,651,459.23	85,767,506.19	6.59%		5,755,292.32	85,879,775.20	6.70%		103,833.09	112,269.01	0.11%
BDO Elite Savings Bank	96,958,473.32	1,464,922,522.32	6.62%		93,326,314.25	1,470,452,260.33	6.35%		-3,632,159.07	5,529,738.01	-0.27%
Merchants Savings & Loan Association	15,178,229.59	240,410,556.71	6.31%		11,583,344.55	225,331,989.32	5.14%		-3,594,885.04	-15,078,567.39	-1.17%
Century Savings Bank	22,888,349.10	815,090,459.16	2.81%		22,695,931.71	773,706,380.01	2.93%		-192,417.39	-41,384,079.15	0.13%
Total	93,200,246,256.78	71,569,278,405.98	130.22%		95,898,245,621.03	78,797,427,304.86	121.70%		-2,697,999,364.25	-7,228,148,898.88	-8.52%

Disclaimer:

This list only serves as a screening guide. It is not a definitive guide and must be taken in the context of other factors. The figures are based on the individual banks' published statement of condition as of March 31, 2011 as published in the BSP website (www.bsp.gov.ph). For this analysis, no attempt was made to go through the audited financial statements of each bank. Readers are suggested to make their own investigations and verify the figures presented. Both BSP and PDIC have their own problem bank screening systems that are much more sophisticated in scope and design, given that they have more access to information over the banks they regulate.

1Includes Classified Loans and Other Risk Assets, Acquired Real Estate, Non-Current Assets Held for Sale, Other Assets

2Includes Stockholder's Equity less Other Capital Accounts plus Allowance for Credit and Impairment Losses

3A ratio of Distressed Assets to Total Capital Cushion greater than 100% signals the danger of insolvency