List of Banks in the Philippines — Universal Banks, Commercial Banks

Updated July 2020

Here’s a list of banks in the Philippines — 46 universal and commercial banks in the Philippines (21 universal and 25 commercial banks in the Philippines), as of July 2020. 

Universal banks are bigger in scope than commercial banks. In addition to commercial banking, universal banks are authorized to engage in investment banking and industrial ventures such as real estate development. Basic investment banking includes underwriting, arranging, advisory, and leasing.

UNIVERSAL BANKS (21 banks):

Here are the addresses and number of offices of above 21 universal banks.

COMMERCIAL BANKS  (25 banks) 

1. Bangkok Bank Public Co. Ltd.
2. Bank of America, N.A.
3. Bank of China Limited – Manila Branch
4. Bank of Commerce
5. The Bank of Tokyo-Mitsubishi UFJ, Ltd.
6. BDO Private Bank, Inc.
7. Cathay United Bank Co., Ltd. – Manila Branch
8. Chang Hwa Commercial Bank, Ltd. – Manila Branch
9. CIMB Bank Philippines Inc.
10. Citibank, N.A.
11. CTBC Bank (Philippines) Corp.
12. First Commercial Bank, Ltd., Manila Branch
13. Hua Nan Commercial Bank, Ltd. – Manila Branch
14. Industrial Bank of Korea – Manila Branch
15. JP Morgan Chase Bank, N.A.
16. KEB Hana Bank — Manila Branch
17. Maybank Philippines, Inc.
18. Mega International Commercial Bank Co., Ltd.
19. MUFG Bank, Ltd.
20. Philippine Bank of Communications
21. Philippine Veterans Bank
22. Robinsons Bank Corporation
23. Shinhan Bank – Manila Branch
24. Sumitomo Mitsui Banking Corporation – Manila Branch
25. United Overseas Bank Limited, Manila Branch

Here are the addresses and number of offices of the above 25 commercial banks.

New Foreign Commercial Banks

Of the 20 foreign commercial banks above, 10 were established in the Philippines under RA No. 10641 (amending RA No. 7721), which allowed the full entry of foreign banks into the country, signed into law by President Benigno S. Aquino III in July 2014.

1. Sumitomo Mitsui Banking Corp. (from Japan)
2. Cathay United Bank (from Taiwan)
3. Shinhan Bank (from South Korea)
4. Industrial Bank of Korea
5. United Overseas Bank (UOB) (from Singapore)
6. First Commercial Bank (from Taiwan)
7. Hua Nan Commercial Bank (from Taiwan)
8. Chang Hwa Commercial Bank, Ltd. – Manila Branch
9. CIMB Bank Philippines (from Malaysia)
10. Industrial and Commercial Bank of China Ltd. (from China)

Notes:
– Of the 25 commercial banks, 20 are foreign banks.
– UOB of Singapore has been here in the Philippines since 1999. It started as a commercial bank here after acquiring Westmont Bank, then converted into a thrift bank, then ceased banking operations and turned into a collections company in 2016, after UOB applied for a new banking license in 2015.
– Deutsche Bank moved up from commercial to universal status in 2011.
– The long-awaited merger of Philippine National Bank and Allied Banking Corp. took effect via a share swap deal on February 9, 2013.
– East West Bank moved up from commercial to universal status in July 2012.
– Robinsons Bank received its commercial banking license in October 2011, following its merger with Robinsons Savings Bank in May 2011.
– Export and Industry Bank was closed on April 26, 2012 by the BSP and taken over by the PDIC on April 27, 2012. It was the first commercial bank to fail since the year 2000 when Urban Bank failed. Export and Industry Bank acquired failed Urban Bank in 2001.
– There were only 16 commercial banks in the Philippines in 2013.

List of banks in the Philippines

Related articles:
List of Commercial Banks in the Philippines (BanksPhilippines.com)
BPI, BDO, or Metrobank Fees — Why Keep Paying Them?
Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks
Cheapest Checking Account in the Philippines
BPI and BDO Internet Banking — Free and Quick Ways to Send Your Children’s Allowance
Top Banks in the Philippines Based on Alexa Ranking