8 Philippine banks make it to global rankings list
12 September 2014
The SM group’s banking arm BDO Unibank Inc. has kept its bragging rights as the Philippines’ top bank in the Top 1,000 Global Banks Ranking 2014 report of British publication The Banker.
BDO, which placed 268th in the latest ranking, led the roster of eight Philippine banks that landed on the global list.
The seven other Philippine banks that made it to the list were Metropolitan Bank and Trust Co. (314th), Bank of the Philippine Islands (382nd), Philippine National Bank (506th), Rizal Commercial Banking Corp. (590th), Security Bank Corp. (680th), China Banking Corp. (681st) and Union Bank of the Philippines (751st).
The banks were ranked by The Banker on the basis of strength of their tier1 or core capital, assets, performance and earnings.
Globally, most of the banks in the top 10 were either from China or the United States, with the exception of one British (HSBC) and one Japanese bank (Mitsubishi UFJ). The top five banks globally were ICBC (1st), China Construction Bank (2nd), JP Morgan Chase (3rd), Bank of America (4th), HSBC (5th), Citigroup (6th), Bank of China (7th), Wells Fargo & Co. (8th), Agricultural Bank of China (9th) and Mitsubishi UFJ Financial Group. (10th).
The Banker’s Top 1000 World Banks ranking has been setting the industry benchmark since 1970, providing comprehensive intelligence about the health and wealth of the banking sector. The report enables investors and clients worldwide to assess the strength and weakness of the banks, identify banking partners for the future and track the big movers and new arrivals in the sector.