Largest Banks in the Philippines

The banking landscape in the Philippines is home to some of the largest and most influential financial institutions in Southeast Asia. These banks, such as Banco De Oro Unibank (BDO), Metrobank, Bank of the Philippine Islands (BPI), and LANDBANK, play a vital role in driving economic growth, offering comprehensive financial services to individuals, businesses, and government entities. From retail banking and foreign exchange services to corporate financing and investments, these banks provide an extensive range of products and services to meet the diverse needs of their clientele. Through their sustained growth, competitive positioning, and technological innovations, these banks not only dominate the Philippine financial sector but also make significant contributions to the broader economy.

Banco De Oro Unibank (BDO) stands as the largest bank in the Philippines and one of the most significant players in the Southeast Asian financial market. Established in 1968, BDO has grown into a banking giant with a comprehensive set of financial offerings that cater to both retail and corporate clients. As of the latest available data, BDO has achieved leadership positions across various banking segments, including lending, foreign exchange, deposit-taking, trust and investments, and remittances. The bank’s growth trajectory can be attributed to its ability to adapt to market demands, expanding its footprint across the country and the world. With over 1,000 branches and more than 3,000 ATMs, BDO has established a widespread presence, ensuring that its financial products and services are accessible to a wide range of customers.

One of the key reasons for BDO's dominance in the Philippine banking sector is its broad portfolio of services. In addition to traditional banking services like loans and deposit accounts, the bank is deeply involved in other financial areas, including corporate and commercial banking, cash management, stock brokerage, and investment banking. Its subsidiaries extend the bank’s reach into areas such as leasing, private banking, insurance brokerage, and bancassurance. BDO has positioned itself as a one-stop financial shop, catering to a wide range of customer needs, from individual clients seeking personal loans and credit cards to large corporations requiring capital financing and risk management solutions.

In 2010, BDO earned recognition from the New York-based financial magazine Global Finance, which named the bank one of the World’s Best Foreign Exchange Providers. This prestigious accolade reflects BDO's strength in international banking, particularly its dominance in foreign exchange services. The bank’s international footprint spans several countries, including the United States, Hong Kong, and Japan, providing services to Filipinos working abroad and offering remittance solutions to millions of overseas Filipino workers (OFWs). BDO’s foreign exchange services play a crucial role in the Philippine economy, given the remittance flows from OFWs, which are a key contributor to the country’s foreign exchange reserves and overall economic stability.

The Metropolitan Bank and Trust Company (Metrobank), the second-largest bank in the Philippines, is another financial powerhouse that has contributed significantly to the country’s banking landscape. Established in 1962, Metrobank has grown from a local commercial bank into a diversified financial institution, offering an extensive range of services, including corporate, commercial, and consumer banking, credit cards, leasing, investment banking, and trust banking. Like BDO, Metrobank operates an extensive branch network across the Philippines and has a strong international presence, with offices in countries such as Japan, the United States, and Hong Kong. The bank's ability to maintain a diverse portfolio of services while focusing on the needs of its customers has been a major factor in its continued success.

Metrobank’s universal banking license, which it acquired in 1981, marked a significant milestone in its journey to becoming a leading financial institution in the Philippines. By offering services ranging from basic savings accounts to complex corporate financing solutions, the bank has been able to cater to a wide range of customer segments, from individual savers to large corporations. Metrobank’s commitment to innovation is reflected in its focus on digital banking, allowing customers to access their accounts and manage their finances through secure online platforms and mobile banking apps. This emphasis on technology has been crucial in maintaining Metrobank’s competitive edge, especially as the banking industry continues to evolve towards digitalization.

Bank of the Philippine Islands (BPI) holds the distinction of being the oldest bank in the Philippines still in operation. Established in 1851, BPI has a rich history of providing financial services to the country and has built a reputation as one of the most trusted institutions in the banking sector. While BPI may not have the sheer scale of BDO or Metrobank, it has maintained a strong market position through its focus on customer service, innovation, and long-term sustainability. BPI is particularly known for its leadership in consumer banking, trust banking, and asset management services. The bank’s emphasis on these areas has allowed it to maintain a loyal customer base, especially among affluent individuals and businesses.

BPI’s corporate banking division offers a range of financial solutions to large corporations, including corporate loans, trade financing, and cash management services. The bank also plays an important role in corporate finance and mergers and acquisitions (M&A), helping businesses navigate complex financial transactions. BPI’s asset management and trust services are among the best in the country, offering clients investment solutions that are tailored to their specific financial goals. The bank’s longstanding focus on wealth management has made it a preferred choice for high-net-worth individuals and institutions.

One of BPI's standout features is its ability to combine traditional banking services with cutting-edge digital platforms. The bank has invested heavily in technology, launching user-friendly online and mobile banking services that allow customers to manage their finances from the comfort of their homes or while on the go. In recent years, BPI has also been at the forefront of initiatives aimed at increasing financial inclusion in the Philippines, offering digital banking solutions to underserved communities and promoting financial literacy.

LANDBANK (Land Bank of the Philippines), though smaller than the major players such as BDO and Metrobank, holds a crucial role in the Philippine banking sector. Established in 1963, LANDBANK is a government-owned bank that focuses on providing financial services to the agricultural sector and rural areas. Despite being a government-run institution, LANDBANK is consistently ranked among the top five commercial banks in the Philippines in terms of deposits, assets, loans, and capital. The bank’s unique mandate to serve the agricultural industry has positioned it as a key player in promoting rural development and supporting the livelihoods of farmers and fisherfolk.

LANDBANK’s services include agricultural loans, savings accounts, microfinance, and credit programs for farmers, agribusinesses, and rural enterprises. In addition to its role in agricultural financing, LANDBANK also provides a range of traditional banking services to urban customers, including home loans, business loans, and savings products. LANDBANK’s widespread network of branches in both urban and rural areas ensures that its services are accessible to underserved communities across the country. By focusing on rural development and financial inclusion, LANDBANK has contributed significantly to bridging the financial divide in the Philippines, helping to improve the living standards of Filipinos in rural areas.

The top banks in the Philippines, including Banco De Oro Unibank, Metrobank, Bank of the Philippine Islands, and LANDBANK, each play a vital role in the country’s financial system. These institutions have not only helped shape the banking sector in the Philippines but have also been instrumental in driving economic development, promoting financial inclusion, and providing essential services to millions of Filipinos. Through their commitment to innovation, customer service, and financial stability, these banks have earned the trust and loyalty of their clients, contributing to the growth of the Philippine economy and ensuring that they remain integral to the nation’s financial future.