Updated March 28, 2019:
There are 46 universal and commercial banks in the Philippines (21 universal and 25 commercial banks in the Philippines), as of March 28, 2019.
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):
ING Bank N.V. was formerly called Internationale Nederlanden Groep Bank N.V.
– Manila Branch
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) Corporation
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
– 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.
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