Thursday, 6 August 2009

Assets of 3 biggest Philippine banks increased 4 percent in Q2

Erik de la Cruz
Business Mirror

TOTAL assets of the country’s three biggest banks—Banco de Oro Unibank (BDO), Metropolitan Bank & Trust Co. (Metrobank) and Bank of the Philippine Islands (BPI)—expanded by around 4 percent in the second quarter of this year to P2.257 trillion.

Figures from the banks’ published balance sheets showed their assets expanding from P2.176 trillion as of end-March, despite the contraction in assets of BDO, which, however, remained the biggest.

Their combined assets as of end-March accounted for about 40 percent of the domestic banking industry’s total resources. As of end-March, total resources of the banking system were valued at P5.9 trillion, based on data from the Bangko Sentral ng Pilipinas.

BDO, the bank of retail magnate Henry Sy, had total assets of P793.47 billion as of end-June. It previously reported total assets of P801.05 billion as of end-March.

BDO has projected a 19-percent expansion in its asset base this year to P950.8 billion.

BDO’s latest balance sheet showed net loans and receivables of P455.48 billion compared with P453.98 billion as of end-March. Deposit liabilities dropped to P625.19 billion as of end-June from P634.8 billion three months ago.

Metrobank of tycoon George Ty increased its assets by 1.6 percent to P767.67 billion from P755.65 billion as of end-March.

The second-largest bank by assets had net loans and receivables of P400.1 billion and deposit liabilities of P555.7 billion as of end-June, compared with P388.6 billion and P554.8 billion, respectively, three months ago.

BPI remained the third-largest with total assets of P695.97 billion as of end-June compared with P620 billion as of end-March.

The Ayala-controlled bank reported increases in net loans and receivables to P367.2 billion from P321.01 billion as of end-March, and deposit liabilities to P567.16 billion from P517.95 billion.

BPI, partly owned by DBS Bank of Singapore, registered the highest return on equity (ROE) of 17.08 percent among the three banks in the first half of the year.

Metrobank’s ROE—which measures a company’s profitability by revealing how much profit it generates with the money invested by shareholders—stood at 9.42 percent, better than BDO’s 6.43 percent.

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