Metrobank, Security Bank and Union Bank among the strongest 100 banks in Asia, says poll
Six Philippine banks were listed as among the strongest 100 banks in the Asia-Pacific region while 10 others were included in the top 500 (AB500) rankings by the financial publication, The Asian Banker.
The Asian Banker, in its special edition released in October, evaluated the top 500 banks in the Asia-Pacific region for the financial year 2010 with a March 2011 cutoff. It actually ranked 700 banks throughout the region, in terms of assets, loans, deposits and net profit.
Metropolitan Bank & Trust Co. was ranked the 20th strongest based on capital and performance, although the bank with assets of $20.2 billion was listed only the 197th largest bank in the region.
Banco de Oro Unibank, which was listed as the largest bank in the Philippines with total assets of $22.8 billion and good for a 186th spot in terms of assets in the region, however, was 161st in terms of strength.
Bank of the Philippine Islands, with $20 billion in assets and no. 200 in the list of the region’s largest, ranked higher in terms of strength at 27th place.
Security Bank was the 28th strongest bank, although it was only 398th in terms of assets, while Union Bank ranked 40th in terms of strength, despite being 343rd in the list of largest banks.
Security Bank actually topped all Asian banks with the highest return on assets placed at 4.6 percent.
Philippine Savings Bank, despite being just the thrift banking unit of Metrobank, was the 57th strongest bank in the region, with a ranking of 452nd in terms of assets. China Bank ranked 74th in terms of strength and 338th in terms of assets.
“It is my privilege to inform you that the Asian Banker’s AB500 magazine, 2011-2012 edition, has ranked PSBank as the 5th strongest bank in the Philippines. Likewise, PSBank was also ranked 57th among the 500 strongest banks in the Asia-Pacific region. This is the first time that PSBank was included among the top 10 banks in the Philippines,” said PSBank president Pascual Garcia III.
Garcia said the top ranking of PSBank shows “how a Philippine savings bank can build a foundation of strength and profitability vis-a-vis larger commercial banks, not only in the Philippines, but in the Asia-Pacific region as well.
Other Philippine banks in the list were Philippine National Bank which was ranked 130th strongest and 324th largest; Rizal Commercial Banking Corp., 139th and 317th; Land Bank of the Philippines, 143rd and 264th; United Coconut Planters Bank, 168th and 387th; Allied Banking Corp., 192nd and 384th; East West Banking Corp., 196th and 466th; Bank of Commerce, 207th and 449th; RCBC Savings Bank, 211th and 497th; and BPI Family Savings Bank, 250th and 415th. –Roderick T. dela Cruz, Manila Standard Today
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