As of the fourth quarter of 2023, the Philippines' largest universal bank based on its value of deposits was BDO Unibank Inc., with deposits amounting to approximately 3.56 trillion Philippine pesos. BDO Unibank Inc. is a commercial and universal bank providing basic functions such as accepting deposits as well as other financial products and services including lending, trust and investments, credit cards, and remittances.
According to the Philippine central bank, three main types of banks comprise the national banking system: universal and commercial banks, thrift banks, and rural and cooperative banks. Each one of these has a unique function that caters to the different banking needs of customers. While universal and commercial banks offer a more comprehensive array of financial services, rural banks promote financial protection and rate-friendly loans to the rural community and their economic activities. As of March 2023, rural banks issued the highest value of loans for the wholesale and retail trade, repair of motor vehicles and motorcycles, and economic activities.
Largest universal banks in the Philippines as of 4th quarter 2023, by deposits
(in billion Philippine pesos)
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BDO Unibank. (March 25, 2024). Largest universal banks in the Philippines as of 4th quarter 2023, by deposits (in billion Philippine pesos) [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/
BDO Unibank. "Largest universal banks in the Philippines as of 4th quarter 2023, by deposits (in billion Philippine pesos)." Chart. March 25, 2024. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/
BDO Unibank. (2024). Largest universal banks in the Philippines as of 4th quarter 2023, by deposits (in billion Philippine pesos). Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/
BDO Unibank. "Largest Universal Banks in The Philippines as of 4th Quarter 2023, by Deposits (in Billion Philippine Pesos)." Statista, Statista Inc., 25 Mar 2024, https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/
BDO Unibank, Largest universal banks in the Philippines as of 4th quarter 2023, by deposits (in billion Philippine pesos) Statista, https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/ (last visited October 02, 2024)
Largest universal banks in the Philippines as of 4th quarter 2023, by deposits (in billion Philippine pesos) [Graph], BDO Unibank, March 25, 2024. [Online]. Available: https://www.statista.com/statistics/1061984/philippines-largest-banks-by-deposits/