Largest universal and commercial banks Philippines Q4 2023, by deposits
As of the fourth quarter of 2023, the Philippines' largest universal and commercial bank based on its value of deposits was BDO Unibank Inc., with deposits amounting to approximately 3.56 trillion Philippine pesos. BDO Unibank Inc. is a commercial and universal bank providing basic functions such as accepting deposits as well as other financial products and services including lending, trust and investments, credit cards, and remittances.
Financial soundness of banks in the Philippines
The liquidity and assets of a bank are important indicators of its financial soundness. In 2022, the ratio of bank liquid reserves to bank assets in the Philippines was approximately 22.68 percent. Among the various segments comprising the banking industry, universal and commercial banks have reported assets amounting to about 24 trillion Philippine pesos. This was significantly higher than the total assets reported by rural and cooperative banks in the country.
Banking segments in the Philippines explained
According to the Philippine central bank, three main types of banks comprise the national banking system: universal and commercial banks, thrift banks, and rural and cooperative banks. Each one of these has a unique function that caters to the different banking needs of customers. While universal and commercial banks offer a more comprehensive array of financial services, rural banks promote financial protection and rate-friendly loans to the rural community and their economic activities. As of March 2023, rural banks issued the highest value of loans for the wholesale and retail trade, repair of motor vehicles and motorcycles, and economic activities.
