Overstated Capital of Philippine Banks as of December 31, 2015

On July 25, 2012, the Bangko Sentral ng Pilipinas (BSP) encouraged banks that continue to reflect unbooked losses or "deferred charges" on their balance sheets to charge those losses against retained earnings.  This implies that the BSP now considers that these banks have amassed so much in retained earnings that "they can now afford to absorb higher charges without impairing their capital and also without making their shareholders unhappy."

But can these banks do so? The answer is: yes but only for some banks.  As can be seen from the table below, eight banks have Deferred Charges as of December 31, 2015:

1. Planters Development Bank (Deferred Charges of 33.01% of SE)
2. United Coconut Planters Bank (Deferred Charges of 26.70% of SE)
3. Bataan Development Bank (Deferred Charges of 11.14% of SE)
4. City Savings Bank (Deferred Charges of 6.29% of SE)
5. Bank of Commerce (Deferred Charges of 1.36% of SE)
6. Card SME Bank, Inc. (Deferred Charges of 0.45% of SE)
7. Wealth Development Bank Corporation (Deferred Charges of 0.20% of SE)
8. Farmers Savings and Loan Bank (Deferred Charges of 0.01% of SE)

It must be noted that four of these banks were ranked as  distressed (highlighted in yellow) as of September 30, 2015:

1. United Coconut Planters Bank (Distressed Ratio of 325.14%)
2. Planters Development Bank  (Distressed Ratio of 221.37%)
3. Bank of Commerce (Distressed Ratio of 148.92%)
4. Bataan Development Bank (Distressed Ratio of 132.68)

For more information on distressed banks, please see the previous blog post: "The Top Distressed Philippine Banks as of September 30, 2015.

For two of the banks, the immediate booking their Deferred Charges will only serve to impair 25% or more of their Stockholders Equity as of September 30, 2015:

1. Planters Development Bank (Deferred Charges of 33.01% of SE)
2. United Coconut Planters Bank (Deferred Charges of 26.70% of SE)

Naturally, these banks are considered distressed.

Retained Earnings

Only three banks have sufficient Retained Earnings (RE) to absorb their unbooked losses as of September 30, 2015:

1. CARD SME Bank (63.20% of RE)
2. City Savings Bank (Deferred Charges (11.11% of RE)
3. Farmers Savings and Loan Bank, Inc. (Deferred Charges of 0.02% of RE)

For two banks with overstated capital, Deferred Charges will exceed their Retained Earnings:

1. United Coconut Planters Bank (Deferred Charges of 183.25% of RE)
2. Bataan Development Bank (Deferred Charges of 120.85% of RE)

Two of the banks with  Deferred Charges have negative Retained Earnings.  As such, they do not have the capacity to absorb additional losses.

1. Bank of Commerce (Retained Earnings of - Php 4.309 billion vs. Deferred Charges of Php 209.672 million.
2. Planters Development Bank (Retained Earnings of - PhP 436.012 million vs. Deferred Charges of Php 1.051 billion.

Philippine Banking System
Deferred Charges Not Yet Written Down
Impact on Stockholder's Equity
In Php
December 31, 2015
Bank	Type of Bank	Deferred Charges	Unbooked Losses	Total Deferred Charges	Stockholder's Equity	Adjusted SE	Impact on SE
PLANTERS DEVELOPMENT BANK	Thrift	1,051,320,109.30	0.00	1,051,320,109.30	3,184,481,331.93	2,133,161,222.63	33.01%
UNITED COCONUT PLANTERS BANK	U/KB	4,690,746,199.58	0.00	4,690,746,199.58	17,569,627,240.59	12,878,881,041.01	26.70%
BATAAN DEVELOPMENT BANK	Thrift	8,680,259.50	0.00	8,680,259.50	77,886,567.78	69,206,308.28	11.14%
CITY SAVINGS BANK	Thrift	539,002,486.21	0.00	539,002,486.21	8,569,924,286.17	8,030,921,799.96	6.29%
BANK OF COMMERCE	U/KB	209,671,603.34	0.00	209,671,603.34	15,372,861,790.21	15,163,190,186.87	1.36%
CARD SME BANK INC A THRIFT BANK	Thrift	2,540,510.96	0.00	2,540,510.96	567,925,344.72	565,384,833.76	0.45%
WEALTH DEVELOPMENT BANK CORPORATION	Thrift	810,202.50	0.00	810,202.50	402,206,774.22	401,396,571.72	0.20%
FARMERS SAVINGS & LOAN BANK INC	Thrift	6,349.72	0.00	6,349.72	111,857,927.21	111,851,577.49	0.01%
Grand Total		6,502,777,721.11	0.00	6,502,777,721.11	45,856,771,262.83	39,353,993,541.72	14.18%
Philippine Banking System
Deferred Charges Not Yet Written Down
Impact on Retained Earnings
In Php
December 31, 2015
Bank	Total Deferred Charges	RE	Adjusted RE	Impact on RE
UNITED COCONUT PLANTERS BANK	4,690,746,199.58	2,559,707,990.17	-2,131,038,209.41	183.25%
BATAAN DEVELOPMENT BANK	8,680,259.50	7,182,700.11	-1,497,559.39	120.85%
CARD SME BANK INC A THRIFT BANK	2,540,510.96	4,019,918.26	1,479,407.30	63.20%
CITY SAVINGS BANK	539,002,486.21	4,849,480,670.85	4,310,478,184.64	11.11%
FARMERS SAVINGS & LOAN BANK INC	6,349.72	42,209,511.48	42,203,161.76	0.02%
BANK OF COMMERCE	209,671,603.34	-4,099,565,590.12	-4,309,237,193.46	-5.11%
PLANTERS DEVELOPMENT BANK	1,051,320,109.30	-436,011,644.82	-1,487,331,754.12	-241.12%
Grand Total	6,501,967,518.61	2,927,023,555.93	-3,574,943,962.68	222.14%

Source: www.bsp.gov.ph

The Capital Adequacy Ratio of Philippine Banks - December 31, 2015

A bank's Capital Adequacy Ratio is a measure of a bank's capital and financial strength.  It is expressed as a percentage of a bank's risk-weighted credit exposures.  It is also known as the "Capital to Risk Weighted Assets Ratio (CRAR).

There are several commonly used capital adequacy ratios.  These are:

Tier 1 Capital

Tier 1 CAR is the ratio of a bank's core or equity capital to its total risk-weighted assets.  It measures financial strength from a regulator's point of view. Tier 1 Capital measures the bank's ability to absorb losses without a bank being required to cease trading.


Tier 2 Capital

Tier 2 Capital is supplementary capital.  It measures the ability of a bank to absorb losses in the event of a winding up and so it provides a lesser degree of protection to depositors.
Common Equity Tier 1 Ratio

Investopedia defines the Common Equity Tier 1 Ratio as a capital adequacy ratio that: 

"...excludes any preferred shares or non-controlling interests when determining the calculation. This differs from the Tier 1 capital ratio which is based on the sum of its equity capital and disclosed reserves, and sometimes non-redeemable, non-cumulative preferred stock."

"...Regulators use the Tier 1 common capital ratio to grade a firm's capital adequacy as one of the following rankings: Well-Capitalized, Adequately Capitalized, Undercapitalized, Significantly Undercapitalized, and Critically Undercapitalized."

Well Capitalized: Common Equity Tier 1 Ratio of 6% or more and does not pay any dividends that would affect its capital base.

Adequately Capitalized: Common Equity Tier 1 Ratio of 4% or more.

Undercapitalized: Common Equity Tier 1 Ratio below 4%.

Significantly Undercapitalized: Common Equity Tier 1 Ratio below 3%.

Critically Undercapitalized: Common Equity Tier 1 Ratio below 2%.

Banks "ranked as Undercapitalized or below are prohibited from paying any dividends or management fees.  In addition, they are required to file a capital restoration plan."

For more information regarding this, please read the BIS Basel III definition of capital.


Risk Weighted Assets

Risk Weighted Assets are a bank's on balance sheet assets and off-balance sheet exposures, weighted according to risk.  Different classes of assets have different risk weightings.  For instance, cash on hand or a government bond has zero risk weighting and are subtracted from the total risk assets.  A loan would have a 100% risk weighthing - it would be counted towards the total risk assets of the bank.

More information about this can be found here.

Minimum Capital Requirements

International Guidelines

Basel III is the global requlatory standard on bank capital adequacy, stress testing, and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision.

Under Basel III, the minimum Common Equity Tier 1 Capital Ratio is 4.5%, Tier 1 Capital Ratio is 6.0%, conservation buffer is 2.5%, and the minimum Total CAR is 8.0%.

For more information on Basel III, read this.

BSP Guidelines

The BSP issued new BASEL III Implementing Guidelines that will take effect on January 1, 2014. Under the new guidelines:

"Banks must now meet specific minimum thresholds for so-called Common Equity Tier 1 (CET1) capital and Tier 1 (T1) capital in addition to the Capital Adequacy Ratio (CAR). These regulatory thresholds effectively move banks worldwide to rely more on core capital instruments like CET1 and T1 issues. This is in lieu of hybrid instruments which did not fare well in the latest global crisis as far as absorbing losses. The ability to absorb losses is central to Basel III.

The BSP maintained the minimum Capital Adequacy Ratio (CAR) at 10.0 percent. In addition to CAR, the new framework sets a CET1 ratio of at least 6.0 percent and the Tier I capital ratio is at a minimum of 7.5 percent. 

The new guidelines also introduce a capital conservation buffer of 2.5 percent which shall be made up of CET1 capital. In addition, banks which issued capital instruments from 2011 will be allowed to count these instruments as Basel III-eligible until end-2015

Moreover, banks that are considered by the BSP as "too big to fail" (domestically systemically important banks) will have minimum common equity Tier 1 (CET1) Ratios that are higher by 1.5% to 3.5% higher than the existing minimum of 6.00% and the capital conservation buffer of 2.5%.

Under these guidelines, several Philippine Banks currently do not meet these guidelines as of December 31, 2015.  The banks that fail to meet BSP's minimum capital requirements are as follows:

TOTAL CAR

1. Bataan Savings and Loan Bank (Total CAR of 0.00)
2. Comsavings Bank (Total CAR of 2.20)
3. Legazpi Savings Bank Inc (Total CAR of 5.19)
4. Planters Development Bank (Total CAR of 6.04)
5. The Palawan Bank (Total CAR of 8.98)
6. United Coconut Planters Bank (Total CAR of 9.28)

Tier One CAR

1. 1st Valley Bank (Tier One CAR of 0.00)
2. Bataan Savings and Loan Bank (Tier One CAR of 0.00)
3. Business & Consumers Bank (Tier One CAR of 0.00)
4. Enterprise Bank Inc. (Tier One CAR of 0.00)
5. Equicom Savings Bank, Inc. (Tier One CAR of 0.00)
6. Inter-Asia Development Bank (Tier One CAR of 0.00)
7. Maritime Savings Bank Corporation (Tier One CAR of 0.00)
8. Optimum Development Bank (Tier One CAR of 0.00)
9. Comsavings Bank (Tier One CAR of 1.74)
10. Legazpi Savings Bank Inc (Tier One CAR of 4.28)
11. CARD SME Bank (Tier One CAR of 4.47)
12. Planters Development Bank (Tier One CAR of 5.38)
13. The Palawan Bank (Tier One CAR of 8.35)
14. Sterling Bank of Asia Inc. (Tier One CAR of 9.08)
15. Mizuho Bank Ltd - Manila Branch (Tier One CAR of 9.10)
16. Wealth Development Bank Corporation (Tier One CAR of 9.12)
17. Land Bank of the Philippines (Tier One CAR of 9.72)
18. Development Bank of the Philippines (Tier One CAR of 9.86)
19. Asia United Bank Corporation (Tier One CAR of 9.95)

Common Equity Tier One CAR

As stated above, 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-seven banks reported their CET1 Ratio as 0.00 for December 31, 2015.

However, those banks that did report a CET1 Ratio other than 0.00, five banks reported CET1 Ratios below BSP's recommended ratio.  They are as follows:

1. Planters Development Bank (CET1 Ratio of 5.38)
2. Mizuho Bank Ltd (CET1 Ratio of 9.10)
3. Land Bank of the Philippines (CET1 Ratio of 9.72)
4. Development Bank of the Philippines (CET1 Ratio of 9.86)
5. Asia United Bank Corporation (CET1 Ratio of 9.95)

The Total CAR, Tier 1 CAR, and Common Equity Tier 1 CAR of Philippine Banks as of December 31, 2015 is as follows:(Banks that do not meet BSP's minimum capital requirements are highlighted in yellow):

Philippine Banking System
TOTAL CAR
December 31, 2015
Bank	Type of Bank	Total CAR
BATAAN SAVINGS AND LOAN BANK	Thrift	0.00
COMSAVINGS BANK	Thrift	2.20
LEGAZPI SAVINGS BANK INC	Thrift	5.19
PLANTERS DEVELOPMENT BANK	Thrift	6.04
THE PALAWAN BANK (PALAWAN DB) INC	Thrift	8.98
UNITED COCONUT PLANTERS BANK	U/KB	9.28
WEALTH DEVELOPMENT BANK CORPORATION	Thrift	10.05
MIZUHO BANK LTD - MANILA BRANCH	U/KB	10.06
WORLD PARTNERS BANK (A THRIFT BANK)	Thrift	10.71
EQUICOM SAVINGS BANK INC	Thrift	11.03
PHIL POSTAL SAVINGS BANK INC	Thrift	11.04
BANK OF THE PHIL ISLANDS	U/KB	12.02
ENTERPRISE BANK INC (A THRIFT BANK)	Thrift	12.17
BDO UNIBANK INC	U/KB	12.22
LUZON DEVELOPMENT BANK	Thrift	12.48
LAND BANK OF THE PHILIPPINES	U/KB	12.67
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK)	Thrift	13.03
STERLING BANK OF ASIA INC (A SAVINGS BANK)	Thrift	13.26
THE BNK OF TOKYO-MITSUBISHI UFJ LTD	U/KB	13.26
RCBC SAVINGS BANK INC	Thrift	13.55
ASIA UNITED BANK CORPORATION	U/KB	13.68
STANDARD CHARTERED BANK	U/KB	13.83
CITY SAVINGS BANK INC	Thrift	13.91
SECURITY BANK CORP	U/KB	14.28
BANK OF CHINA LIMITED-MANILA BRANCH	U/KB	14.29
CHINA BANKING CORP	U/KB	14.37
PHIL NATIONAL BANK	U/KB	14.42
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC)	Thrift	14.74
VILLAGE BANK INC (A THRIFT BANK)	Thrift	14.79
PHIL BANK OF COMMUNICATIONS	U/KB	15.01
CITIBANK, N.A.	U/KB	15.27
EAST WEST BANKING CORP	U/KB	15.45
HIYAS BANKING CORPORATION	Thrift	15.58
MAYBANK PHILIPPINES INC	U/KB	15.58
RIZAL COMM'L BANKING CORP	U/KB	15.63
METROPOLITAN BANK & TCO	U/KB	16.37
FARMERS SAVINGS & LOAN BANK INC	Thrift	16.64
DEVELOPMENT BANK OF THE PHIL	U/KB	16.65
UNION BANK OF THE PHILS	U/KB	16.65
PRODUCERS SAVINGS BANK CORPORATION	Thrift	16.68
MALAYAN BANK SAVINGS AND MORT BANK INC	Thrift	16.74
PHILIPPINE VETERANS BANK	U/KB	16.81
UCPB SAVINGS BANK	Thrift	17.43
ANZ BANKING GROUP LTD	U/KB	17.79
PHIL SAVINGS BANK	Thrift	18.03
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS)	Thrift	18.04
HONGKONG & SHANGHAI BANKING CORP	U/KB	18.07
1ST VALLEY BANK INC A DEVELOPMENT BANK	Thrift	18.30
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK	Thrift	18.37
MEGA INT'L COMM'L BANK CO LTD	U/KB	18.94
BATAAN DEVELOPMENT BANK	Thrift	19.03
BANK OF MAKATI (A SAVINGS BANK) INC	Thrift	19.64
DEUTSCHE BANK AG	U/KB	20.91
CITYSTATE SAVINGS BANK INC	Thrift	21.77
BANK OF COMMERCE	U/KB	21.85
BDO PRIVATE BANK, INC.	U/KB	21.94
METRO CEBU PUBLIC SAVINGS BANK	Thrift	22.58
CARD SME BANK INC A THRIFT BANK	Thrift	23.13
HSBC SAVINGS BANK(PHILS) INC	Thrift	23.34
CHINA BANK SAVINGS INC	Thrift	23.56
CTBC BANK (PHILIPPINES) CORP	U/KB	24.31
FIRST CONSOLIDATED BANK INC (A PDB)	Thrift	24.99
DUMAGUETE CITY DEV BANK INC	Thrift	25.62
BPI DIRECT SAVINGS BANK INC	Thrift	26.43
JP MORGAN CHASE BANK NATIONAL ASSN.	U/KB	26.53
LIFE SAVINGS BANK INC	Thrift	26.58
INTER-ASIA DEVELOPMENT BANK	Thrift	27.64
BUSINESS AND CONSUMERS BANK (A DB)	Thrift	28.14
BANGKOK BANK PUBLIC CO LTD	U/KB	29.71
TOWER DEVELOPMENT BANK	Thrift	30.63
UNIVERSITY SAVINGS BANK INC	Thrift	32.49
PAMPANGA DEVELOPMENT BANK	Thrift	32.64
KOREA EXCHANGE BANK	U/KB	32.99
MBANK PHILIPPINES (A THRIFT BANK) INC	Thrift	33.05
SUN SAVINGS BANK INC	Thrift	33.78
MARITIME SAVINGS BANK CORPORATION	Thrift	34.18
ROBINSONS BANK CORPORATION	U/KB	34.39
BANK OF AMERICA N.A.	U/KB	34.51
LEMERY SAVINGS & LOAN BANK, INC.	Thrift	34.98
CORDILLERA SAVINGS BANK INC	Thrift	37.02
PHIL TRUST COMPANY	U/KB	38.24
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC	Thrift	38.42
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK	Thrift	39.34
MALASIQUI PROGRESSIVE SLB, INC	Thrift	42.92
NORTHPOINT DEV'T BANK INC	Thrift	44.18
PACIFIC ACE SAVINGS BANK INC	Thrift	53.92
PHIL STAR DEVELOPMENT BANK INC	Thrift	54.18
BANK ONE SAVINGS AND TRUST CORP.	Thrift	55.00
PNB SAVINGS BANK	Thrift	56.09
QUEZON COCONUT BANK INC (A THRIFT BANK)	Thrift	57.95
SAMPAGUITA SAVINGS BANK INC	Thrift	60.12
OPTIMUM DEVELOPMENT BANK INC	Thrift	62.17
ING BANK N.V.	U/KB	76.70
CENTURY SAVINGS BANK CORPORATION	Thrift	80.91
MERCHANTS SAVINGS & LOAN ASSN INC	Thrift	90.26
PROGRESS SAVINGS AND LOAN BANK INC	Thrift	96.64
TONGYANG SAVINGS BANK INC	Thrift	97.01
INDUSTRIAL BANK OF KOREA - MANILA BRANCH	U/KB	97.81
UNITED OVERSEAS BANK PHILIPPINES	Thrift	100.58
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS	U/KB	105.19
CATHAY UNITED BANK CO LTD	U/KB	196.27
ISLA BANK(A THRIFT BANK) INC	Thrift	232.21
SHINHAN BANK - MANILA BRANCH	U/KB	657.79
SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH	U/KB	6,448.04
BDO ELITE SAVINGS BANK INC	Thrift	NA
BPI FAMILY SAVINGS BANK INC	Thrift	NA
BPI GLOBE BANKO INC A SAVINGS BANK	Thrift	NA
MICROFINANCE MAXIMUM SB INC	Thrift	NA
SECURITY BANK SAVINGS CORPORATION	Thrift	NA
Philippine Banking System
Tier One CAR
December 31, 2015
Bank	Type of Bank	Tier One CAR
1ST VALLEY BANK INC A DEVELOPMENT BANK	Thrift	0.00
BATAAN SAVINGS AND LOAN BANK	Thrift	0.00
BUSINESS AND CONSUMERS BANK (A DB)	Thrift	0.00
ENTERPRISE BANK INC (A THRIFT BANK)	Thrift	0.00
EQUICOM SAVINGS BANK INC	Thrift	0.00
INTER-ASIA DEVELOPMENT BANK	Thrift	0.00
MARITIME SAVINGS BANK CORPORATION	Thrift	0.00
OPTIMUM DEVELOPMENT BANK INC	Thrift	0.00
COMSAVINGS BANK	Thrift	1.74
LEGAZPI SAVINGS BANK INC	Thrift	4.38
CARD SME BANK INC A THRIFT BANK	Thrift	4.47
PLANTERS DEVELOPMENT BANK	Thrift	5.38
THE PALAWAN BANK (PALAWAN DB) INC	Thrift	8.35
STERLING BANK OF ASIA INC (A SAVINGS BANK)	Thrift	9.08
MIZUHO BANK LTD - MANILA BRANCH	U/KB	9.10
WEALTH DEVELOPMENT BANK CORPORATION	Thrift	9.12
LAND BANK OF THE PHILIPPINES	U/KB	9.72
DEVELOPMENT BANK OF THE PHIL	U/KB	9.86
ASIA UNITED BANK CORPORATION	U/KB	9.95
PHIL POSTAL SAVINGS BANK INC	Thrift	10.14
WORLD PARTNERS BANK (A THRIFT BANK)	Thrift	10.38
BDO UNIBANK INC	U/KB	10.53
BANK OF THE PHIL ISLANDS	U/KB	11.12
PHIL NATIONAL BANK	U/KB	11.19
SECURITY BANK CORP	U/KB	11.24
PHIL BANK OF COMMUNICATIONS	U/KB	11.49
LUZON DEVELOPMENT BANK	Thrift	11.78
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS)	Thrift	11.79
RIZAL COMM'L BANKING CORP	U/KB	11.90
EAST WEST BANKING CORP	U/KB	12.15
PHIL SAVINGS BANK	Thrift	12.39
THE BNK OF TOKYO-MITSUBISHI UFJ LTD	U/KB	12.42
RCBC SAVINGS BANK INC	Thrift	12.82
UNION BANK OF THE PHILS	U/KB	12.98
METROPOLITAN BANK & TCO	U/KB	13.00
CITY SAVINGS BANK INC	Thrift	13.07
STANDARD CHARTERED BANK	U/KB	13.22
CHINA BANKING CORP	U/KB	13.44
BANK OF CHINA LIMITED-MANILA BRANCH	U/KB	13.56
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC)	Thrift	14.06
VILLAGE BANK INC (A THRIFT BANK)	Thrift	14.47
MAYBANK PHILIPPINES INC	U/KB	14.50
CITIBANK, N.A.	U/KB	14.56
HIYAS BANKING CORPORATION	Thrift	15.26
FARMERS SAVINGS & LOAN BANK INC	Thrift	15.86
MALAYAN BANK SAVINGS AND MORT BANK INC	Thrift	16.15
PRODUCERS SAVINGS BANK CORPORATION	Thrift	16.15
UNIVERSITY SAVINGS BANK INC	Thrift	16.25
PHILIPPINE VETERANS BANK	U/KB	16.41
UCPB SAVINGS BANK	Thrift	16.74
ANZ BANKING GROUP LTD	U/KB	17.29
HONGKONG & SHANGHAI BANKING CORP	U/KB	17.36
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK	Thrift	17.61
MEGA INT'L COMM'L BANK CO LTD	U/KB	17.99
BANK OF MAKATI (A SAVINGS BANK) INC	Thrift	19.07
DEUTSCHE BANK AG	U/KB	20.53
CITYSTATE SAVINGS BANK INC	Thrift	21.09
BATAAN DEVELOPMENT BANK	Thrift	21.13
BDO PRIVATE BANK, INC.	U/KB	21.24
BANK OF COMMERCE	U/KB	21.36
CHINA BANK SAVINGS INC	Thrift	21.77
METRO CEBU PUBLIC SAVINGS BANK	Thrift	22.24
HSBC SAVINGS BANK(PHILS) INC	Thrift	22.71
CTBC BANK (PHILIPPINES) CORP	U/KB	23.49
FIRST CONSOLIDATED BANK INC (A PDB)	Thrift	24.10
DUMAGUETE CITY DEV BANK INC	Thrift	25.23
BPI DIRECT SAVINGS BANK INC	Thrift	25.61
JP MORGAN CHASE BANK NATIONAL ASSN.	U/KB	26.36
LIFE SAVINGS BANK INC	Thrift	26.37
BANGKOK BANK PUBLIC CO LTD	U/KB	28.73
KOREA EXCHANGE BANK	U/KB	32.63
SUN SAVINGS BANK INC	Thrift	32.92
MBANK PHILIPPINES (A THRIFT BANK) INC	Thrift	33.05
ROBINSONS BANK CORPORATION	U/KB	33.63
BANK OF AMERICA N.A.	U/KB	34.06
LEMERY SAVINGS & LOAN BANK, INC.	Thrift	34.74
CORDILLERA SAVINGS BANK INC	Thrift	36.47
PHIL TRUST COMPANY	U/KB	37.90
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC	Thrift	38.07
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK	Thrift	38.95
MALASIQUI PROGRESSIVE SLB, INC	Thrift	42.74
NORTHPOINT DEV'T BANK INC	Thrift	44.18
PACIFIC ACE SAVINGS BANK INC	Thrift	53.80
PHIL STAR DEVELOPMENT BANK INC	Thrift	54.01
BANK ONE SAVINGS AND TRUST CORP.	Thrift	54.56
PNB SAVINGS BANK	Thrift	55.16
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK)	Thrift	58.40
QUEZON COCONUT BANK INC (A THRIFT BANK)	Thrift	59.24
SAMPAGUITA SAVINGS BANK INC	Thrift	60.08
ING BANK N.V.	U/KB	76.35
CENTURY SAVINGS BANK CORPORATION	Thrift	80.05
MERCHANTS SAVINGS & LOAN ASSN INC	Thrift	89.63
PROGRESS SAVINGS AND LOAN BANK INC	Thrift	96.64
TONGYANG SAVINGS BANK INC	Thrift	97.01
INDUSTRIAL BANK OF KOREA - MANILA BRANCH	U/KB	97.81
UNITED OVERSEAS BANK PHILIPPINES	Thrift	99.96
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS	U/KB	104.69
TOWER DEVELOPMENT BANK	Thrift	117.96
PAMPANGA DEVELOPMENT BANK	Thrift	126.04
CATHAY UNITED BANK CO LTD	U/KB	196.27
ISLA BANK(A THRIFT BANK) INC	Thrift	231.83
SHINHAN BANK - MANILA BRANCH	U/KB	657.28
SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH	U/KB	6,447.79
BDO ELITE SAVINGS BANK INC	Thrift	NA
BPI FAMILY SAVINGS BANK INC	Thrift	NA
BPI GLOBE BANKO INC A SAVINGS BANK	Thrift	NA
MICROFINANCE MAXIMUM SB INC	Thrift	NA
SECURITY BANK SAVINGS CORPORATION	Thrift	NA
UNITED COCONUT PLANTERS BANK	U/KB	NA
Philippine Banking System
Common Tier 1 Ratio
December 31, 2015
Bank	Type of Bank	Common Tier 1 Ratio
1ST VALLEY BANK INC A DEVELOPMENT BANK	Thrift	0.00
BANK OF AMERICA N.A.	U/KB	0.00
BANK OF CHINA LIMITED-MANILA BRANCH	U/KB	0.00
BANK OF MAKATI (A SAVINGS BANK) INC	Thrift	0.00
BANK ONE SAVINGS AND TRUST CORP.	Thrift	0.00
BATAAN DEVELOPMENT BANK	Thrift	0.00
BATAAN SAVINGS AND LOAN BANK	Thrift	0.00
BUSINESS AND CONSUMERS BANK (A DB)	Thrift	0.00
CARD SME BANK INC A THRIFT BANK	Thrift	0.00
CENTURY SAVINGS BANK CORPORATION	Thrift	0.00
CITYSTATE SAVINGS BANK INC	Thrift	0.00
COMSAVINGS BANK	Thrift	0.00
CORDILLERA SAVINGS BANK INC	Thrift	0.00
DUMAGUETE CITY DEV BANK INC	Thrift	0.00
DUNGGANON BANK (A MICROFINANCE THRIFT BANK) INC	Thrift	0.00
ENTERPRISE BANK INC (A THRIFT BANK)	Thrift	0.00
EQUICOM SAVINGS BANK INC	Thrift	0.00
FARMERS SAVINGS & LOAN BANK INC	Thrift	0.00
FIRST CONSOLIDATED BANK INC (A PDB)	Thrift	0.00
HIYAS BANKING CORPORATION	Thrift	0.00
INTER-ASIA DEVELOPMENT BANK	Thrift	0.00
ISLA BANK(A THRIFT BANK) INC	Thrift	0.00
LEGAZPI SAVINGS BANK INC	Thrift	0.00
LEMERY SAVINGS & LOAN BANK, INC.	Thrift	0.00
LIFE SAVINGS BANK INC	Thrift	0.00
LUZON DEVELOPMENT BANK	Thrift	0.00
MALASIQUI PROGRESSIVE SLB, INC	Thrift	0.00
MALAYAN BANK SAVINGS AND MORT BANK INC	Thrift	0.00
MARITIME SAVINGS BANK CORPORATION	Thrift	0.00
MBANK PHILIPPINES (A THRIFT BANK) INC	Thrift	0.00
METRO CEBU PUBLIC SAVINGS BANK	Thrift	0.00
NORTHPOINT DEV'T BANK INC	Thrift	0.00
OPPORTUNITY KAUSWAGAN BANK INC (A MICROFINANCE THRIFT BANK)	Thrift	0.00
OPTIMUM DEVELOPMENT BANK INC	Thrift	0.00
PACIFIC ACE SAVINGS BANK INC	Thrift	0.00
PAMPANGA DEVELOPMENT BANK	Thrift	0.00
PENBANK INC (A PDB) (FORMERLY: PENINSULA RB INC)	Thrift	0.00
PHIL POSTAL SAVINGS BANK INC	Thrift	0.00
PHIL STAR DEVELOPMENT BANK INC	Thrift	0.00
PHILIPPINE BUSINESS BANK INC A SAVINGS BANK	Thrift	0.00
PHILIPPINE RESOURCES SAVINGS BANKING CORPORATION (PR SAVINGS)	Thrift	0.00
PRODUCERS SAVINGS BANK CORPORATION	Thrift	0.00
PROGRESS SAVINGS AND LOAN BANK INC	Thrift	0.00
QUEEN CITY DEVELOPMENT BANK INC OR QUEENBANK A THRIFT BANK	Thrift	0.00
QUEZON COCONUT BANK INC (A THRIFT BANK)	Thrift	0.00
SAMPAGUITA SAVINGS BANK INC	Thrift	0.00
STERLING BANK OF ASIA INC (A SAVINGS BANK)	Thrift	0.00
SUN SAVINGS BANK INC	Thrift	0.00
THE PALAWAN BANK (PALAWAN DB) INC	Thrift	0.00
TONGYANG SAVINGS BANK INC	Thrift	0.00
TOWER DEVELOPMENT BANK	Thrift	0.00
UCPB SAVINGS BANK	Thrift	0.00
UNITED OVERSEAS BANK PHILIPPINES	Thrift	0.00
UNIVERSITY SAVINGS BANK INC	Thrift	0.00
VILLAGE BANK INC (A THRIFT BANK)	Thrift	0.00
WEALTH DEVELOPMENT BANK CORPORATION	Thrift	0.00
WORLD PARTNERS BANK (A THRIFT BANK)	Thrift	0.00
PLANTERS DEVELOPMENT BANK	Thrift	5.38
MIZUHO BANK LTD - MANILA BRANCH	U/KB	9.10
LAND BANK OF THE PHILIPPINES	U/KB	9.72
DEVELOPMENT BANK OF THE PHIL	U/KB	9.86
ASIA UNITED BANK CORPORATION	U/KB	9.95
BDO UNIBANK INC	U/KB	10.17
BANK OF THE PHIL ISLANDS	U/KB	11.12
PHIL NATIONAL BANK	U/KB	11.19
SECURITY BANK CORP	U/KB	11.24
PHIL BANK OF COMMUNICATIONS	U/KB	11.49
RIZAL COMM'L BANKING CORP	U/KB	11.90
EAST WEST BANKING CORP	U/KB	12.15
PHIL SAVINGS BANK	Thrift	12.39
THE BNK OF TOKYO-MITSUBISHI UFJ LTD	U/KB	12.42
RCBC SAVINGS BANK INC	Thrift	12.82
UNION BANK OF THE PHILS	U/KB	12.98
METROPOLITAN BANK & TCO	U/KB	13.00
CITY SAVINGS BANK INC	Thrift	13.07
STANDARD CHARTERED BANK	U/KB	13.22
CHINA BANKING CORP	U/KB	13.44
MAYBANK PHILIPPINES INC	U/KB	14.50
CITIBANK, N.A.	U/KB	14.56
PHILIPPINE VETERANS BANK	U/KB	14.71
ROBINSONS BANK CORPORATION	U/KB	15.81
BDO PRIVATE BANK, INC.	U/KB	16.51
ANZ BANKING GROUP LTD	U/KB	17.29
HONGKONG & SHANGHAI BANKING CORP	U/KB	17.36
MEGA INT'L COMM'L BANK CO LTD	U/KB	17.99
DEUTSCHE BANK AG	U/KB	20.53
BANK OF COMMERCE	U/KB	21.36
CHINA BANK SAVINGS INC	Thrift	21.76
HSBC SAVINGS BANK(PHILS) INC	Thrift	22.71
CTBC BANK (PHILIPPINES) CORP	U/KB	23.49
BPI DIRECT SAVINGS BANK INC	Thrift	25.61
JP MORGAN CHASE BANK NATIONAL ASSN.	U/KB	26.36
BANGKOK BANK PUBLIC CO LTD	U/KB	28.73
KOREA EXCHANGE BANK	U/KB	32.63
PHIL TRUST COMPANY	U/KB	37.90
PNB SAVINGS BANK	Thrift	55.15
ING BANK N.V.	U/KB	76.35
MERCHANTS SAVINGS & LOAN ASSN INC	Thrift	89.63
INDUSTRIAL BANK OF KOREA - MANILA BRANCH	U/KB	97.81
AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS	U/KB	104.69
CATHAY UNITED BANK CO LTD	U/KB	196.27
SHINHAN BANK - MANILA BRANCH	U/KB	657.28
SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH	U/KB	6,447.79
BDO ELITE SAVINGS BANK INC	Thrift	NA
BPI FAMILY SAVINGS BANK INC	Thrift	NA
BPI GLOBE BANKO INC A SAVINGS BANK	Thrift	NA
MICROFINANCE MAXIMUM SB INC	Thrift	NA
SECURITY BANK SAVINGS CORPORATION	Thrift	NA
UNITED COCONUT PLANTERS BANK	U/KB	NA

Source: www.bsp.gov.ph