Monday, 24 May 2010

Deposits of 10 big banks rise 8.8% to P3.3t

Roderick T. dela Cruz
Manila Standard

Deposits of the country’s 10 biggest banks rose 8.8 percent to P3.317 trillion at the end of March from P3.050 trillion year-on-year, outpacing the loan growth in the first quarter of the year, according to data compiled by Land Bank of the Philippines.

The country’s 10 largest banks extended a combined loans of P1.854 trillion at the end of March this year, up by just 0.2 percent from P1.850 trillion a year ago.

Banco de Oro Unibank had the largest deposits of P678.6 billion as of end-March, up 6.9 percent from a year earlier, while Metrobank had P602.3 billion on an 8.6-percent growth. Bank of the Philippine Islands had P558.8 billion in deposits, representing a 7.9-percent increase from a year ago.

LandBank, the country’s fourth largest, saw the highest growth of 25.1 percent in deposits amounting to P407.8 billion in March from P325.9 billion during the same month in 2009.

BDO remained the largest bank lender with P449.4 billion as of March, up 6 percent from a year ago. Metrobank saw its loans tumble 9.1 percent to P333.5 billion while BPI improved its lending by 5.9 percent to P320.7 billion.

The combined assets of the 10 largest banks grew 9.5 percent to P4.407 trillion as of March from P4.025 trillion a year ago. BDO was the largest bank with P848.5 billion, followed by Metrobank with P821.1 billion and BPI with P684.7 billion.

LandBank also posted the highest growth of 22.3 percent in assets, which hit P522.4 trillion as of March.

Occupying the fifth to 10th spots in terms of asset size were Philippine National Bank with P283.3 billion as of March; Rizal Commercial Banking Corp., P282.6 billion; Development Bank of the Philippines, P273.6 billion; UnionBank, P233 billion; CitiBank, P231 billion; and China Bank, P226 billion.

In terms of capital, Metrobank topped the list with P73.2 billion, higher than BDO’s P69.8 billion and BPI’s P63.6 billion. LandBank had P50.3 billion in capital, which also rose the fastest at 29.2 percent from a year ago.

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