The banking sector in the Philippines has seen substantial growth in recent years, with 2024 proving to be a pivotal year for many of the country’s largest financial institutions. These banks not only serve as the backbone of the Philippine economy, but they also play a crucial role in the day-to-day lives of millions of Filipinos. From traditional brick-and-mortar establishments to innovative digital banks, the financial landscape is as diverse as the country’s culture. A major shift has been the rise of digital banking, making banking services more accessible to a tech-savvy generation while retaining the trust of longstanding customers with a solid history of stability and reliability.
The top banks in the Philippines are distinguished by their asset size, which often reflects their reach, influence, and customer base. The top 44 banks, in particular, stand out due to their comprehensive range of services, including consumer banking, corporate financing, and investment opportunities. This list highlights not only the sheer size of their assets but also how they’ve adapted to the dynamic needs of Filipinos. These institutions are not just financial giants but community staples, offering services that ensure a secure financial future for many Filipino families while supporting local businesses and national projects.
The Biggest banks in the Philippines in 2024
In summary, We’re confident that the Philippine economy will continue to grow and we’ll continue to appreciate the value of being part of the economy, kaya mag-impok sa banko!
| RANK | NAME OF BANK | TOTAL ASSETS |
| 1 | BDO UNIBANK INC | 4,508,065.88 |
| 2 | LAND BANK OF THE PHILIPPINES | 3,325,085.09 |
| 3 | METROPOLITAN BANK & TCO | 3,096,992.46 |
| 4 | BANK OF THE PHIL ISLANDS | 3,090,565.38 |
| 5 | CHINA BANKING CORP | 1,678,975.53 |
| 6 | RIZAL COMM’L BANKING CORP | 1,382,041.51 |
| 7 | PHIL NATIONAL BANK | 1,254,974.36 |
| 8 | SECURITY BANK CORP | 1,189,460.23 |
| 9 | UNION BANK OF THE PHILS | 975,009.45 |
| 10 | DEVELOPMENT BANK OF THE PHIL | 971,535.85 |
| 11 | EAST WEST BANKING CORP | 468,225.98 |
| 12 | CITIBANK, N.A. | 375,941.33 |
| 13 | ASIA UNITED BANK CORPORATION | 344,142.34 |
| 14 | HONGKONG & SHANGHAI BANKING CORP | 268,267.33 |
| 15 | BANK OF COMMERCE | 229,169.59 |
| 16 | PHIL TRUST COMPANY | 180,468.08 |
| 17 | PHIL BANK OF COMMUNICATIONS | 150,778.08 |
| 18 | MUFG BANK, LTD. | 109,879.07 |
| 19 | STANDARD CHARTERED BANK | 106,714.72 |
| 20 | MAYBANK PHILIPPINES INCORPORATED | 105,181.13 |
| 21 | MIZUHO BANK LTD – MANILA BRANCH | 96,711.58 |
| 22 | CTBC BANK (PHILIPPINES) CORP | 85,814.75 |
| 23 | JP MORGAN CHASE BANK NATIONAL ASSN. | 73,007.38 |
| 24 | PHILIPPINE VETERANS BANK | 68,866.73 |
| 25 | BANK OF CHINA (HONGKONG) LIMITED-MANILA BRANCH | 56,841.30 |
| 26 | DEUTSCHE BANK AG | 54,962.77 |
| 27 | SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH | 49,171.15 |
| 28 | CIMB BANK PHILIPPINES INC | 43,023.67 |
| 29 | ING BANK N.V. | 41,127.85 |
| 30 | AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED | 40,671.53 |
| 31 | BDO PRIVATE BANK, INC. | 36,854.17 |
| 32 | BANK OF AMERICA N.A. | 32,361.79 |
| 33 | KEB HANA BANK – MANILA BRANCH | 26,764.89 |
| 34 | BANGKOK BANK PUBLIC COMPANY LIMITED | 11,486.72 |
| 35 | MEGA INT’L COMM’L BANK CO LTD | 10,908.41 |
| 36 | SHINHAN BANK – MANILA BRANCH | 9,494.70 |
| 37 | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED – MANILA BRANCH | 8,793.79 |
| 38 | HUA NAN COMMERCIAL BANK LTD MANILA BRANCH | 8,670.80 |
| 39 | INDUSTRIAL BANK OF KOREA MANILA BRANCH | 7,946.65 |
| 40 | CATHAY UNITED BANK CO LTD – MANILA BRANCH | 6,961.75 |
| 41 | CHANG HWA COMMERCIAL BANK LTD – MANILA BRANCH | 6,237.62 |
| 42 | UNITED OVERSEAS BANK LIMITED MANILA BRANCH | 5,152.83 |
| 43 | FIRST COMMERCIAL BANK LTD MANILA BRANCH | 3,295.65 |
| 44 | AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS | 956.8 |
Exploring the top banks in the Philippines gives a clear view of where financial security and growth are anchored in 2024. These banks, with their diverse offerings and substantial asset sizes, provide a range of solutions for individuals and businesses alike. Whether you’re looking for a solid savings account, accessible loan options, or investment opportunities that promise long-term growth, these banks deliver what’s most sulit—the best value for your hard-earned money.
For those considering a new financial partner, take the time to explore what each bank offers. Many of these institutions have branches in key cities and provinces, often located near major tourist destinations or business hubs, making them accessible whether you’re in Metro Manila, Cebu, or Davao. Some even have branches in proximity to stunning tourist spots like Boracay, Palawan, and Tagaytay, blending the convenience of modern banking with the charm of local attractions.
Make informed decisions by assessing the services, promos, and rates that fit your needs. This list will help you find the bank that aligns best with your financial goals, whether you’re saving for a dream vacation, starting a business, or simply looking for a reliable partner in your everyday transactions. Share this list with friends and family to help them find a bank that truly matches their expectations for both quality and value. In the end, it’s about finding the most sulit choice that supports your financial well-being, ensuring that every peso counts.
