Saturday, 6 February 2010

BDO maintains no.1 spot

Roderick T. dela Cruz
Manila Standard

Banco de Oro Unibank Inc., the banking unit of the SM Group of retail tycoon Henry Sy, kept its position as the largest bank in the Philippines in terms of assets and loan portfolio last year.

BDO reported total consolidated assets of P856.2 billion in 2009, according to the separate consolidated balance sheets filed by publicly-listed banks with the Philippine Stock Exchange.

BDO had P491.8 billion in loans and net receivables as of end-2009, the largest among commercial and universal banks.

Metrobank Group trailed BDO as the country’s largest, with the George Ty-led bank registering combined consolidated assets of P844.5 billion in 2009, with P620.658 billion attributed to mother company Metrobank. The group declared P412.86 billion in loans and net receivables last year.

Bank of the Philippine Islands of Ayala Corp. ranked third with total consolidated assets of P713.06 billion, including P595 billion from the bank.

BPI had P378.1 billion in total consolidated loans and receivables in 2009.

Other publicly-listed banks such as the Philippine National Bank and Rizal Commercial Banking Corp. have not officially declared their 2009 balance sheet.

Union Bank of the Philippines of the Aboitiz Group reported consolidated assets of P241.3 billion, with P120.3 billion in loans and net receivables, while China Banking Corp. declared consolidated assets of P232.465 billion, including P106 billion in loans and net receivables.

China Bank said Thursday that its board ratified the acquisition of 80 common shares of China Bank Savings Inc. (formerly The Manila Banking Corp.) from five shareholders. The board also approved the reorganization of its management committee.

Meanwhile, Security Bank claimed it had the best asset quality among domestic universal banks, with its non-performing loans ratio averaging at 1.25 percent last year, below the industry average of 3 percent to 4 percent.

The bank, citing preliminary data on its unaudited balance sheet, said its “NPL cover remains unparalleled at 292 percent at the end of December 2009.”

Security Bank said asset base grew 5.8 percent year-on-year to P146.3 billion in 2009, on the back of higher lending activities.

The bank said it continued to focus on its lending activities with loans comprising 51.3 percent of total assets, as it diversified its commercial and corporate banking portfolio.

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