bank in philippines

List and names of bank in Philippines

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Last Updated on April 25, 2025 by admin

The banking sector in the Philippines plays a crucial role in driving economic growth and financial stability within the country. With a diverse landscape that includes a mix of local, foreign, and government-owned banks, as well as the emergence of digital banks and fintech companies, the Philippines’ banking industry is dynamic and ever-evolving.

The Philippine banking system consists of a diverse range of institutions, including universal and commercial banks, thrift banks, rural and cooperative banks, and non-bank financial institutions. These entities work together to provide a wide array of financial products and services to individuals, businesses, and the government.

The major commercial banks Philippine include BDO Unibank, Land Bank of the Philippines, Metropolitan Bank and Trust Company, Bank of the Philippine Islands, China Banking Corporation, Rizal Commercial Banking Corporation, Philippine National Bank, Security Bank Corporation, and Union Bank of the Philippines.

These banks are pivotal in the country’s financial landscape, offering a wide range of services and having a significant presence nationwide

Read: How to buy Airtime and data from first bank

List and names of bank in Philippines

1.Allied Bank

2. Allied Savings Bank

3. Asia United Bank

4. CARD Bank

5. China Bank

6. China Bank Savings

7. Chinatrust Bank

8. Citibank, N.A

9. Citibank Savings Bank

10. Citystate Savings Bank

11. Development Banks of the Phils.

12. East West Bank

13. Equicom Savings Bank

14. Enterprise Bank

15. Green Bank

16. HSBC

17. HSBC Savings Bank

18. ISLA Bank

19. Land Bank

20. Malayan Bank

21. Maybank Phils. Inc

22. Metrobank

23. PBCOM

24. Philtrust Bank

25. Philippine Business Bank

26. Philippine National Bank

27. Philippine Savings Bank

28. Philippine Veterans Bank

29. Plan Bank

30. PVB Card Corp.

31. Postal Bank

32. Producers Bank

33. Quezon Capital Rural Bank

34. RCBC

35. RCBC Savings Bank

36. Real Bank

37. Robinsons Savings Bank

38. Security Bank

39. Security Bank Savings

40. Standard Chartered Bank

41. Sterling Bank

42. Tong Yang Bank

43. UCPB Savings Bank

44. Wealth Bank

45. World Partners Bank

Read; How to check Union bank Account balance and get Statement of Account

Savings Banks

These are the forty-four (44) savings and thrift banks in the Philippines as of September 30, 2022, listed in the official website of the Bangko Sentral ng Pilipinas (BSP)

  1. 1st Valley Bank (a development bank)
  2. AllBank, Inc.
  3. Bank of Makati
  4. Bank One Savings Corporation
  5. Bangko Kabayan, Inc. (a private development bank)
  6. Bataan Development Bank
  7. BPI Direct BanKo, Inc. (a subsidiary of BPI)
  8. CARD SME Bank, Inc. (a thrift bank)
  9. Century Savings Bank Corporation
  10. China Bank Savings (formerly PlantersBank – now a subsidiary of Chinabank)
  11. City Savings Bank (a subsidiary of Unionbank)
  12. Citystate Savings Bank
  13. Cordillera Savings Bank, Inc.
  14. Dumaguete City Development Bank, Inc.
  15. Equicom Savings Bank (Equicom)
  16. First Consolidated Bank, Inc.
  17. Hiyas Banking Corporation
  18. HSBC Savings Bank Philippines Inc.
  19. Isla Bank (a thrift bank)
  20. Legazpi Savings Bank
  21. Lemery Savings and Loan Bank, Inc.
  22. Life Savings Bank, Inc.
  23. LOLC Bank Philippines, Inc. (a thrift bank)
  24. Luzon Development Bank
  25. Makiling Development Bank Corporation
  26. Malayan Savings Bank
  27. NorthPoint Development Bank, Inc.
  28. Overseas Filipino Bank (OFBank; a subsidiary of Landbank)
  29. Pampanga Development Bank
  30. Pen Bank, Inc. (formerly Peninsula RB, Inc.)
  31. Philippine Business Bank
  32. Philippine Savings Bank (PS Bank; a subsidiary of Metrobank)
  33. Philippine Star Development Bank, Inc.
  34. Producers Savings Bank Corporation (Producers Bank)
  35. Queen City Development Bank
  36. Quezon Coconut Bank, Inc. (a thrift bank)
  37. Rizal Microbank, Inc. (a thrift bank of RCBC)
  38. Sterling Bank of Asia
  39. Sun Savings Bank, Inc.
  40. UCPB Savings Bank (a subsidiary of UCPB)
  41. University Savings Bank, Inc.
  42. Woori Bank (Wealth Development Bank Corporation)
  43. Yuanta Savings Bank Philippines, Inc.
  44. Dungganon Bank, Inc

Digital bank

  1. Maya
  2. UnionDigital Bank
  3. GoTyme Bank
  4. Tonik
  5. UNO Digital Bank
  6. OFBank

Rural and cooperative bank

Rural and cooperative banks form a crucial part of the Philippines’ financial landscape, especially for reaching communities in less urbanized regions. They help boost financial inclusion and support local economic development.

  1. Agribusiness Rural Bank, Inc.
  2. Aliaga Farmers Rural Bank, Inc.
  3. ARDCIBank, Inc. – A Rural Bank
  4. ASPAC Rural Bank, Inc.
  5. AuroraBank, a microfinance-oriented rural bank
  6. Balanga Rural Bank, Inc.
  7. Banco Dipolog
  8. Banco Mabuhay (a rural bank)
  9. Banco Mexico, Inc. (a rural bank in Mexico, Pampanga since 1962)
  10. Banco Santiago de Libon, Inc. “A Rural Bank”
  11. Bankways, Inc. (a rural bank)
  12. BDO Network Bank
  13. BHF Rural Bank, Inc.
  14. BOF, Inc. (a rural bank)
  15. Cagsawa Rural Bank, Inc.
  16. Camalig Bank, Inc. (a rural bank)
  17. Cantilan Bank, Inc. (a rural bank)
  18. CARD Bank, Inc. (a microfinance rural bank)
  19. Cavite United Rural Bank Corporation (a subsidiary of Asia United Bank Corporation)
  20. Cebuana Lhuillier Rural Bank, Inc.
  21. Common Wealth Rural Bank, Inc.
  22. Community Rural Bank of Catmon (Cebu) Inc.
  23. Community Rural Bank of Dapitan City, Inc.
  24. Community Rural Bank of San Felipe (Zambales) Inc.
  25. Cooperative Bank of Bohol
  26. Cooperative Bank of Cotabato
  27. Cooperative Bank of Nueva Vizcaya
  28. Cooperative Bank of Quezon Province
  29. Consolidated Cooperative Bank
  30. Country Builders Bank, Inc
  31. D’ Asian Hills Bank, Inc. (a rural bank)
  32. Dumaguete Rural Bank, Inc. (DRBI)
  33. EastWest Rural Bank, Inc. (EWRB; a subsidiary of EastWest Bank)
  34. Entrepreneur Rural Bank, Inc.
  35. First Agro-Industrial Rural Bank, Inc. / FAIRBANK Inc.
  36. First Isabela Cooperative Bank (FICO Bank)
  37. First Tagum Rural Bank, Inc.
  38. GM Bank of Luzon, Inc. (a rural bank)
  39. Guagua Rural Bank, Inc.
  40. Highland Rural Bank, Inc.
  41. Ilocos Consolidated Cooperative Bank (formerly Ilocos Sur Cooperative Bank and Cooperative Bank of Ilocos Norte)
  42. Imus Rural Bank, Inc.
  43. Innovative Bank, Inc. (a rural bank)
  44. Insular Savers Bank, Inc. (a rural bank)
  45. Katipunan Bank, Inc. (a rural bank)
  46. Laguna Prestige Banking Corporation (a rural bank)
  47. Liberty Bank (a rural bank)
  48. LifeBank (a rural bank)
  49. Mactan Rural Bank (Lapu-Lapu City) Inc.
  50. Malarayat Rural Bank, Inc.
  51. Mallig Plains Rural Bank (ISA) Inc.
  52. Marayo Bank, Inc. (a rural bank)
  53. Metro South Cooperative Bank
  54. Mount Makiling Rural Bank, Inc.
  55. MVSM Bank (a rural bank since 1953) Inc.
  56. Network Consolidated Cooperative Bank
  57. New Rural Bank of San Leonardo (N.E.) Inc.
  58. Opportunity Kauswagan Inc. (a microfinance rural bank)
  59. Own Bank, The Rural Bank of Cavite City
  60. People’s Rural Bank (Gen. Santos City) Inc.
  61. PlanBank (Rural Bank of Canlubang Planters, Inc.)
  62. Quezon Capital Rural Bank, Inc.
  63. Rang-ay Bank, Inc. (a rural bank)
  64. RBG Imperial Bank, Inc. (a rural bank)
  65. RBT Bank, Inc. (a rural bank)
  66. Rizal Bank (a microfinance rural bank)
  67. Rural Bank of Angeles, Inc. (a subsidiary of Asia United Bank)
  68. Rural Bank of Bagabag (N.V.) Inc.
  69. Rural Bank of Bambang (Nueva Vizcaya) Inc.
  70. Rural Bank of Barili (Cebu) Inc.
  71. Rural Bank of Bauang, Inc.
  72. Rural Bank of Bayombong, Inc.
  73. Rural Bank of Calbayog City, Inc.
  74. Rural Bank of Cardona (Rizal) Inc.
  75. Rural Bank of Cauayan, Inc.
  76. Rural Bank of Central Pangasinan (Bayambang) Inc.
  77. Rural Bank of Digos, Inc.
  78. Rural Bank of Dolores (Quezon) Inc.
  79. Rural Bank of Dumangas, Inc.
  80. Rural Bank of Gattaran (Cagayan) Inc.
  81. Rural Bank of General Trias, Inc.
  82. Rural Bank of Guinobatan, Inc.
  83. Rural Bank of Itogon (Benguet) Inc.
  84. Rural Bank of Jaen, Inc.
  85. Rural Bank of Lebak (Sultan Kudarat) Inc.
  86. Rural Bank of Mabalacat, Inc.
  87. Rural Bank of Magdalena (Laguna) Inc.
  88. Rural Bank of Mangaldan
  89. Rural Bank of Maragondon, Inc.
  90. Rural Bank of Maria Aurora (Aurora) Inc.
  91. Rural Bank of Mexico (Pampanga since 1962)
  92. Rural Bank of Montalban, Inc.
  93. Rural Bank of Pandi (Bulacan) Inc.
  94. Rural Bank of Paracale (Camarines Norte) Inc.
  95. Rural Bank of Pilar (Bataan) Inc.
  96. Rural Bank of Pilar (Sor) Inc.
  97. Rural Bank of Pola (Oriental Mindoro)
  98. Rural Bank of Rizal (Zamboanga del Norte) Inc.
  99. Rural Bank of Rosario (La Union) Inc.
  100. Rural Bank of San Antonio, Inc.
  101. Rural Bank of San Jacinto (Masbate), Inc.
  102. Rural Bank of San Mateo (Isabela) Inc.
  103. Rural Bank of San Narciso, Inc.
  104. Rural Bank of San Pascual (Obando, Bulacan) Inc.
  105. Rural Bank of Solano (Nueva Vizcaya) Inc.
  106. Rural Bank of Sta. Ignacia, Inc.
  107. Rural Bank of Tandag (Surigao Del Sur) Inc.
  108. Rural Bank of Tangub City (Misamis Occidental) Inc.
  109. Rural Bank of Taal, Inc
  110. Saviour Rural Bank, Inc.
  111. SeaBank Philippines, Inc. (a rural bank since 1965)
  112. Sta. Maria Rural Bank, Inc.
  113. Sugbuanon Rural Bank, Inc.
  114. Summit Bank (rural bank of Tublay, Inc.)
  115. Valiant Bank, Inc. (a rural bank)
  116. Rural Bank of Cuenca Inc.

Read: How to contact Union Bank customer care, Phone number and email

Importance of Banks in the Philippine Economy

Banks play a vital role in the Philippine economy by driving growth, ensuring financial stability, and promoting inclusion. Here are some key points:

  1. Economic Growth: Banks provide the funds necessary for businesses to expand, invest, and innovate. They facilitate trade and commerce by offering loans, credit, and other financial services.
  2. Financial Inclusion: Rural and cooperative banks help bring financial services to underserved communities, empowering individuals and small businesses in rural areas.
  3. Stability and Resilience: The banking sector in the Philippines has maintained strong capital levels and liquidity, contributing to the country’s robust macroeconomic fundamentals.
  4. Support for SMEs: Thrift banks and other institutions cater to small and medium-sized enterprises, which are crucial for job creation and economic development.
  5. Innovation: Philippine banks are embracing digital transformation, offering online banking and fintech solutions to improve accessibility and efficiency

Major Local Banks in the Philippines

 

Here are some of the major local banks in the Philippines:

Universal and Commercial Banks

  • BDO Unibank, Inc. (BDO)
  • Bank of the Philippine Islands (BPI)
  • Metropolitan Bank and Trust Company (Metrobank)
  • Land Bank of the Philippines (Landbank)
  • Philippine National Bank (PNB)
  • Rizal Commercial Banking Corporation (RCBC)
  • Security Bank Corporation
  • Union Bank of the Philippines
  • China Banking Corporation (Chinabank)
  • Development Bank of the Philippines (DBP)

Thrift Banks

  • Philippine Savings Bank (PSBank)
  • City Savings Bank, Inc.
  • Sterling Bank of Asia, Inc.

Rural and Cooperative Banks

  • Rural Bank of San Quintin
  • Rural Bank of Solano, Inc.
  • Producers Savings Bank Corporation

These banks cater to a wide range of financial needs, from personal banking to corporate and rural development.

Top Local Banks by Assets in philippines

Here are the top local banks in the Philippines ranked by total assets as of recent data:

  1. BDO Unibank, Inc. – ₱4,668 billion
  2. Land Bank of the Philippines – ₱3,429 billion
  3. Bank of the Philippine Islands (BPI) – ₱3,296 billion
  4. Metropolitan Bank and Trust Company (Metrobank) – ₱3,220 billion
  5. China Banking Corporation (Chinabank) – ₱1,777 billion
  6. Rizal Commercial Banking Corporation (RCBC) – ₱1,452 billion
  7. Security Bank Corporation – ₱1,431 billion
  8. Philippine National Bank (PNB) – ₱1,253 billion
  9. Union Bank of the Philippines – ₱990 billion
  10. Development Bank of the Philippines (DBP) – ₱964 billion

These banks are key players in the Philippine financial sector, supporting economic growth and providing a wide range of services.

 

Key Services and Offerings of Local Banks in philippines

Local banks in the Philippines provide a wide range of services to meet the financial needs of individuals, businesses, and communities. Here are some of their key offerings:

Retail Banking Services

  • Savings and Checking Accounts: Basic banking services for individuals and businesses.
  • Loans: Personal loans, home loans, car loans, and business loans.
  • Credit Cards: Various credit card options with rewards and benefits.

Corporate Banking Services

  • Business Loans: Financing solutions for small, medium, and large enterprises.
  • Trade Finance: Support for import/export businesses.
  • Cash Management Services: Efficient handling of corporate funds.

Investment and Wealth Management

  • Mutual Funds: Investment options for individuals and institutions.
  • Trust Services: Estate planning and asset management.
  • Stock Brokerage: Assistance with stock market investments.

Digital Banking

  • Mobile Banking Apps: Convenient access to accounts and transactions.
  • Online Banking: Secure platforms for managing finances remotely.
  • E-Wallets: Digital payment solutions for everyday transactions.

Rural and Cooperative Banking

  • Microfinance: Loans and financial services for small-scale entrepreneurs.
  • Agricultural Loans: Support for farmers and rural development.

Specialized Services

  • Remittances: Money transfer services for overseas Filipino workers (OFWs).
  • Foreign Exchange: Currency exchange and forex trading.
  • Insurance: Life, health, and property insurance products.

These services are tailored to cater to the diverse needs of the Philippine population, from urban professionals to rural communities.

Foreign Banks Operating in the Philippines

The Philippines hosts several foreign banks that have established operations in the country. Some notable ones include:

  • Standard Chartered Bank: Originating from the UK, it has been operating in the Philippines since 1872.
  • Hongkong & Shanghai Banking Corporation (HSBC): A major player from Hong Kong, active since 1875.
  • Citibank: A prominent US-based bank that started operations in 1902.
  • Bank of America: Another US-based institution, operating since 1947.
  • JP Morgan Chase Bank: Entered the Philippine market in 1961.

These banks cater to various financial needs, including corporate banking, retail banking, and investment services.

Leading Foreign Banks in the Philippine Market

Some of the leading foreign banks operating in the Philippine market include:

  • Citibank: A major U.S.-based bank with a strong presence in the Philippines.
  • HSBC (Hongkong and Shanghai Banking Corporation): Known for its global reach and comprehensive financial services.
  • Standard Chartered Bank: One of the oldest foreign banks in the country, offering a wide range of banking solutions.
  • MUFG Bank: A Japanese bank providing corporate and investment banking services.
  • Deutsche Bank: A German bank with expertise in investment banking and financial services.

 

Impact and Contribution of Foreign Banks in Philippines

Foreign banks have had a significant impact on the Philippine economy, contributing in various ways:

  1. Increased Competition: The entry of foreign banks has encouraged domestic banks to improve their efficiency and services. This competition has led to better financial products and services for consumers.
  2. Capital Inflows: Foreign banks bring in capital, which supports economic growth and development. They also facilitate foreign direct investments (FDIs) by providing financial services to international investors.
  3. Technology and Innovation: Many foreign banks introduce advanced banking technologies and practices, enhancing the overall efficiency of the financial sector.
  4. Financial Inclusion: By expanding their reach, foreign banks help improve access to financial services, especially in underserved areas.
  5. Economic Stability: Foreign banks contribute to the stability of the financial system by diversifying the banking sector and providing a buffer during economic downturns

Government-Owned Banks in the Philippines

The Philippines has several government-owned banks that play a vital role in the country’s financial system and economic development. Some of the key ones include:

  • Land Bank of the Philippines (LANDBANK): Focused on promoting agricultural and rural development, LANDBANK is one of the largest government-owned banks in the country.
  • Development Bank of the Philippines (DBP): This bank supports infrastructure, industry, and social services, contributing to national development.
  • Overseas Filipino Bank (OFBank): A subsidiary of LANDBANK, OFBank caters specifically to the needs of Overseas Filipino Workers (OFWs), offering services like remittances and savings accounts.

These banks are instrumental in providing financial services to underserved sectors and supporting various development initiatives.

Central bank of Philippines

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines. It was established on January 3, 1949, and later re-established on July 3, 1993, under the New Central Bank Act. The BSP is responsible for maintaining price stability, promoting economic growth, and ensuring the stability of the financial system.

Key functions of the BSP include:

  • Monetary Policy: Implementing policies to control inflation and stabilize the currency.
  • Currency Management: Issuing and managing the Philippine peso.
  • Financial Supervision: Regulating banks and other financial institutions.
  • Payments and Settlements: Overseeing the country’s payment systems to ensure efficiency and security.

The BSP operates independently from the national government and is headquartered in Manila

How many banks are there in the Philippines?

The Bangko Sentral ng Pilipinas (BSP) reported the following number of banks and other financial institutions in the Philippines:

  • Universal and Commercial Banks: 45
  • Savings Banks: 44
  • Rural and Cooperative Banks: 400
  • Credit Unions: 40
  • Non-banks with Quasi-Banking Functions: 6,267

In 2020, the BSP also recognized Digital Banks as a distinct category. As of April 21, 2025, the BSP directory lists 6 digital banks.

Therefore, based on the latest available data and classifications, there are several types of banking institutions in the Philippines, totaling over 6,700 entities when including non-bank financial institutions.

The main types of banks in the Philippines are:

  1. Universal Banks: These have the authority to perform the functions of commercial banks, as well as investment houses and invest in non-allied enterprises.
  2. Commercial Banks: These banks handle general financial needs like deposits, withdrawals, checking and savings accounts, and loan services for individuals and organizations.
  3. Thrift Banks: These focus on accumulating savings and investing them. They also provide short to long-term financing and include Savings and Mortgage Banks, Private Development Banks, and Stock Savings and Loan Associations.
  4. Rural Banks: Located mainly in rural communities, they provide basic financial services to local residents and aim to promote the local economy, especially supporting farmers.
  5. Cooperative Banks: Similar to rural banks, but they are organized and owned by cooperatives or federations of cooperatives, also focusing on providing financial services to their members, including farmers.
  6. Islamic Banks: These operate based on Shari’a (Islamic Law) principles, which prohibit interest (riba).
  7. Digital Banks: These banks offer financial products and services entirely through online platforms and electronic channels without physical branches, although they must have a head office in the Philippines.

It’s important to note that the number of financial institutions can change over time due to various factors such as mergers, acquisitions, and the establishment of new banks. The Bangko Sentral ng Pilipinas is the central regulatory authority that supervises all banking institutions in the Philippines.

 What regulatory bodies oversee the banking industry in the Philippines?

The Philippine banking industry is primarily overseen by the following regulatory bodies:

  1. Bangko Sentral ng Pilipinas (BSP): This is the central monetary authority of the Philippines. Its primary objective is to maintain price stability conducive to balanced and sustainable economic growth.

    In the banking sector, the BSP has broad regulatory and supervisory powers over all banks (universal, commercial, thrift, rural, cooperative, and digital banks) and non-bank financial institutions performing quasi-banking functions. Its key responsibilities include:   

    • Issuing rules and regulations for banks and other supervised financial institutions.   
    • Conducting bank examinations and ensuring compliance with regulations.   
    • Setting monetary policy that can influence the banking sector.
    • Acting as the lender of last resort.
    • Managing the country’s foreign currency reserves.   
    • Licensing and supervising digital banks.   

  2. Philippine Deposit Insurance Corporation (PDIC): This government agency provides deposit insurance to protect depositors in case of bank failures. All banks operating in the Philippines are required to be members of the PDIC. Its main functions include:   

    • Insuring deposits up to a maximum coverage of PHP 1,000,000 per depositor per bank (effective March 15, 2025).   
    • Conducting bank examinations with prior approval from the Monetary Board of the BSP.   
    • Acting as receiver and liquidator for closed banks.   
    • Promoting public confidence in the banking system.   

  3. Securities and Exchange Commission (SEC): While the BSP has primary oversight of banks, the SEC also plays a role in regulating certain financial entities and activities that may intersect with the banking sector. The SEC is the national government regulatory agency responsible for the registration and supervision of corporations, capital market participants, and securities and investment instruments. This can include:  

    • Supervising financing and lending companies, which may offer services similar to some banking products.   
    • Regulating investment houses, which can have affiliations with or undertake activities related to banking.
    • Overseeing the issuance of debt and equity securities by banks and other financial institutions.

While these are the primary regulators, other bodies may have specific roles related to the banking industry, such as the Anti-Money Laundering Council (AMLC), which investigates money laundering and other financial crimes, and the Financial Products and Services Consumer Protection Act (RA 11765), which mandates the BSP to ensure the protection of financial consumers. However, the BSP and PDIC are the most directly involved in the day-to-day regulation and supervision of banks in the Philippines.

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