Top 5 Best Performing Banks in the Philippines
Thinking of opening a savings account for the rainy days? Planning to apply for a credit card that you can use here and abroad? You can peruse various financial reports online and shop around for the best bank, or you can look at the numbers, the accolades, and the number of customers who believe in the bank and their products. Do they have good customer service, assisting you in applying for a salary loan given an urgent need? What makes a bank the best bank? We have listed down the top performing banks in the Philippines according to assets, deposits, loans and receivables, and capital.
BDO (Banco de Oro) continues to dominate the ranks of the best banks in the Philippines. Just recently, Singapore-based group The Asian Banker awarded BDO the Best Retail Bank in the Philippines award during the International Excellence in Retail Financial Services 2016.
Three important factors can be attributed to BDO’s win: comprehensive line of products and services offered, leadership in receiving deposits, and the integration of different channels when performing banking transactions. BDO pioneered having BDO branches inside shopping malls with bank operations during mall hours for convenience of its customers. With total assets of ₱1,943,494.95 billion, total deposits of ₱1,601,798.77 billion, total loans and receivables of ₱1,310,097.22 billion, and a total capital of ₱198,636.32 million, BDO maintains its strong strategy to provide banking services across all channels and expand their total customer base.
Coming in a strong second is Metrobank, one of the consistently top-performing banks in the country and in Asia Pacific. It boasts of its capital, assets, stable performance, and strong earnings. Metrobank’s total assets amount to ₱1,461,169.10 billion. For deposits, it has managed to pull in a total of ₱1,106,385.31 billion, with loans and receivables amounting to 697,840.15 million. When it comes to capital, Metrobank remains strong with ₱186,856.96 million.
BPI (Bank of the Philippine Islands) also continues to receive accolades from the banking community as one the best retail banks in the country. With total assets amounting to ₱1,241,654.29 billion, this bank shows absolutely no signs of stopping. In terms of deposits, BPI continues to be among the most trusted by consumers with ₱1,033.608.62 billion. Loans and receivables amount to ₱666,099.02 million, while total capital is at ₱145,768.67 million. BPI has proven time and again that it is at par with the leading banking institutions all over the world by launching new products and improvements to keep up with the ever changing consumer and business needs.
In the fourth spot is Landbank of the Philippines, with a total of ₱1,197,659.85 billion in assets. For the bank’s efforts to provide financial support for farmers, micro enterprises, small and medium enterprises, agribusiness, and aqua businesses, it has been awarded the Asian Bank of the Year for 2016 at the SMART Awards Asia in Singapore. Landbank has ₱1,046,369.91 billion in deposits, ₱525,921.84 million in loans and receivables, and ₱79,988.40 million in capital.
The fifth best bank in terms of assets, deposits, and loans and receivables is PNB (Philippine National Bank). At the end of 2015, PNB’s total consolidated resources amounted to ₱679.7 billion, an increase of ₱54.2 billion from the previous year. In terms of assets, PNB has amassed ₱628,970.88 million. It has ₱470,763.59 million in deposits, ₱332,531.09 million in loans and receivables, and ₱94,336.02 million in capital.
Choosing a bank is one of the important prerequisites to having a financially rewarding future. Having a trusted and reliable financial provider can open a lot of possibilities, starting with simple savings, investment options, exclusive cashback credit cards, and even prospective loan choices. Getting the right provider early on can set you up on the right track, opening a world of financial possibilities.