Total assets of the Philippine banking system went up by 9.06 percent to P24.032 trillion as of end-October versus P22.035 trillion same period last year, based on the latest data from the Bangko Sentral ng Pilipinas (BSP).
The growth in banking assets is supported by the increase in deposits that BSP interpreted as banks maintaining “the continued confidence of the public” amid the industry’s stable earnings, healthy capital and ample liquidity.
Bank assets are mainly funded by deposits, loans and investments. Meanwhile, banks’ liabilities are its financial and deposit liabilities, which also increased by 8.69 percent to P21.006 trillion from P19.38 trillion same time in 2022.
As of end-October, banks’ net loans inclusive of interbank loans receivable and reverse repurchase, totaled P12.601 trillion, up 8.31 percent from same time last year of P11.634 trillion.
The net loans contribute significantly to total assets after investments and cash and due from banks.
Based on BSP data, net investments which are financial assets and equity investments, amounted to P6.997 trillion in the first 10 months of 2023, up by 7.98 percent from P6.48 trillion in 2022.
Cash and due end-October showed minimal increase of just one percent to P2.722 trillion from P2.695 trillion.
Meanwhile, net real and other properties acquired or ROPA went up by 2.66 percent to P104.907 billion compared to last year’s P102.19 billion.
By banking group, the 45 big banks or universal and commercial banks accounted for about 94 percent of total industry assets at P22.562 trillion while its total liabilities stood at P19.833 trillion.
The 42 thrift banks’ assets reached the trillion-mark at P1.003 trillion as of end-October while its total liabilities totaled P850.538 billion.
The rural and cooperative banks have lagged reporting period but as of end-June this year, it contributed P358.460 billion in total banking assets and P291.699 billion in total liabilities. There are 390 rural and cooperative banks, of which 368 are rural banks.
The country’s six digital banks have total assets of P81.527 billion as of end-October and liabilities of P69.408 billion.
Based on BSP data as of end-June, the SM Group’s BDO Unibank Inc. is the country’s biggest bank in assets size at P3.975 trillion.
Government-owned Land Bank of the Philippines is second largest lender with total assets of P3.025 trillion followed by the Ayala-led Bank of the Philippine Islands with P2.655 trillion.
The Ty-controlled Metropolitan Bank and Trust Co. with total assets of P2.632 trillion as of end-June is the country’s fourth biggest bank while China Banking Corp., a sister company of BDO is in fifth place with P1.41 trillion assets.
The other banks in the top 10 in terms of asset size are the Yuchengcos’ Rizal Commercial Banking Corp. with P1.215 trillion; Lucio Tan Group’s Philippine National Bank with P1.173 trillion; Aboitiz-led Union Bank of the Philippines with P967.729 billion; state-owned Development Bank of the Philippines with P962.886 billion; and Security Bank Corp. with P901.238 billion.