Top List of Banks in Philippines
There are a lot of banks in the Philippines. The country has three universal, three commercial and 49 thrift banks. You can get banking services from these banks. Some offer online services or make it easy for you to transfer money abroad.
Finding the best BankBank for you is about more than just being able to deposit cash or swipe a debit card. Once you have chosen a bank, you will want to transfer money from account to account as needed, pay bills, or even get a loan. You must choose the right BankBank for your needs to make the most of your money. Your BankBank may be able to help you save for retirement or help you invest your extra cash for the future. Since there are many different banks in the Philippines, here are some of the best banks in Philippines:
BDO Unibank, Inc. (BDO)
BDO Unibank, Inc. (BDO), is a Philippine banking company based in Makati. The firm is the largest BankBank in the Philippines regarding total assets. It operates 1,434 branches (including subsidiaries' branches) nationwide as of December 31, 2016. As of December 2020, the BankBank had assets net of 70.29 billion U.S. dollars, ranking it among the best banks in the world. BDO Unibank, Inc. (BDO) was established as Acme Savings Bank in 1968. In 1976, the BankBank was renamed Banco de Oro Savings and Mortgage Bank and converted into a commercial bank in 1977. The Bank provides a wide range of banking and other financial services, including lending, deposits, foreign exchange, securities brokerage, trust and investments, credit cards, corporate cash management and remittances services.
Metropolitan Bank & Trust Company
Metropolitan Bank & Trust Company (PSE: MBT) is also one of the ten largest banks in Southeast Asia, with around 950 domestic branches and 32 foreign branches, subsidiaries and affiliates worldwide. On September 5, 1962, Metrobank was established by a group of business tycoons led by George SK Ty. Metrobank offers a wide range of products and services, including savings and current accounts; time deposits; foreign currency accounts; domestic and international remittances; consumer loans; credit cards; corporate banking; trade services; investment banking; treasury; cash management services; and bancassurance. As of 2020, their total assets were worth 2.46 trillion PH, and their employees were approximately 13,150 (2019).
Bank of the Philippine Islands
The Bank was established on August 1, 1851. It is the first Philippine BankBank to open a branch outside the Philippines. TheBank had 21,429 employees as of 2019, and its assets summed up to 2.23 trillion in the financial year 2020.
BPI is one of the largest banks in the Philippines, with over 1,176 branches nationwide as of December 2020. The Bank has overseas branches in Hong Kong and Macau and a representative office in Singapore. In Europe, it has branches in Brussels and Paris that serve Filipino communities. Bank of the Philippine Islands is a universal bank that provides a wide range of corporate and retail banking services.
Land Bank of the Philippines
It is one of the largest universal banks in the Philippines, with total consolidated assets of PhP2.04 trillion PH as of 2019.
LANDBANK provides financial assistance to agriculture and agrarian reform beneficiaries through loans, insurance premium subsidies and other services. TheBank has a network of 285 branches, 38 extension offices, and 33 lending centres nationwide. During the financial period ended 2019, the BankBank had 10,037 employees across its branches. It also has five overseas offices located in Washington D.C., New York City, London, Tokyo and Beijing. In addition to its financial services, LANDBANK also provides government services such as payment collection for real property taxes (RPT) and processing of land titles through its LANDBANK Linkbiz Portal and Land Titling Computerization Project (LTCP).
Philippine National Bank
Philippine National Bank (PSE: PNB) is one of the largest banks in the Philippines. The Bank was acquired by Metrobank, controlled by tycoon George Ty, on October 4, 2010. As of December 31, 2020, PNB has 716 branches, and It also has a presence in Hong Kong, Singapore, Tokyo and California; and representative offices in Bangkok and Jakarta. The Bank had 1.23 trillion PHP (2020) assets and 8550 employees across its branches.
PNB's products and services include deposit accounts, loans, credit cards, remittances and other electronic banking services. It also provides extra services such as investment banking, insurance, brokerage services and asset management.
Security Bank Corporation
Security Bank Corporation is one of the Philippines' leading universal banks serving retail, commercial, corporate and institutional clients. As of September 30, 2020, Security Bank had total consolidated assets of ₱521.95 billion, total loans of ₱325.33 billion, with total deposits at ₱417.81 billion. Security Bank has 306 branches in the Philippines, including three affiliates, Security Bank Savings and Security Finance Corp. and 11 overseas branches and offices located in Australia, China, Japan, Brunei Darussalam, Hong Kong SAR, Singapore and the United States. It has over 5000 employees across its branches in the country. It offers a wide range of financial services and products, including Lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokerage, insurance, credit card issuance and trust funds.
China Banking Corporation
China Banking Corporation is a universal bank in the Philippines. It was established on September 5, 1920. China Bank is the third-largest private domestic commercial BankBank in the Philippines as of March 31, 2019, with total assets of P1.04 trillion ($20 billion), loans of P542 billion ($10 billion) and deposits of P814 billion ($15 billion). It has 840 branches nationwide. The Bank also has international offices in New York, Hong Kong, Shanghai, Singapore, and Tokyo. China Bank offers a full range of financial services, including commercial banking, consumer banking, investment banking, cash management and treasury services, asset management, securities brokerage and leasing and finance. The Bank had a total of 9,813 employees as of 2019.
Development Bank of the Philippines
The Bank was established in 1969 under Republic Act No. 1028. The primary purpose of the BankBank was to provide domestic financing for development projects and provide technical assistance and advice to clients in project identification, preparation and implementation. DBP operates 137 branches nationwide as of December 2018, including 24 provincial branches, 93 municipal branches, 11 commercial branches, and nine specialized branches with more than 10000 employees across its branches. The net assets were estimated to be 1.04 trillion PHP (2020).
UnionBank of the Philippines is a publicly-listed universal bank. The Bank's total consolidated resources as of December 31, 2020, amounted to P774.46 billion, with total loans and receivables reaching P569.47 billion and total deposits amounting to P495.24 billion. UnionBank has one of the largest customer bases among Philippine banks, serving over 6 million individual customers and more than 200,000 MSMEs and corporations. As of December 31, 2020, UBP has 388 branches, two savings banks and one representative office domestically; 2 branches in Hong Kong; 1 branch each in Tokyo and Osaka in Japan; and a subsidiary in London, U.K., which serves as the Bank'sBank's gateway to Europe. Union Bank's key businesses include Retail Banking, Corporate Banking, International Banking, Treasury, Brokerage Services and Credit Card Services.
Q. What is the best BankBank to open an account in the Philippines?
A. Bank of the Philippine Islands (BPI). The most established and one of the largest banks in the Philippines, BPI offers a full range of products and services for those with a deposit balance of PHP1,000 (approximate $25). It has many branches, making it convenient and accessible.