Leading universal and commercial banks Philippines Q4 2023, by number of branches

As of the fourth quarter of 2023, the leading universal and commercial bank in the Philippines in terms of bank branches was BDO Unibank, Inc. In that period, the bank had 1,722 branches nationwide. This was followed by the Bank of the Philippine Islands (BPI), with 1,189 bank branches.

Financial information of BDO Unibank Inc.

BDO Unibank, Inc. or commonly known as Banco de Oro (BDO), is a universal bank in the Philippines that offers services in various segments including private, investment, and commercial banking, as well as leasing, financing, and insurance. As of December 2023, BDO has 16 international offices and the majority of its domestic bank branches are in Luzon and Metro Manila. It was also the largest universal and commercial bank by asset value in the Philippines as of the fourth quarter of 2023.  

What are the different types of banks in the Philippines? 

 Philippine banks are classified as universal, commercial, thrift, rural, cooperative, and Islamic. These banks are regulated by the Bangko Sentral ng Pilipinas or the central bank, and they vary according to the types of services that they provide. Universal and commercial banks offer more varied services, while thrift banks are a combination of savings and mortgage banks and loan associations. Finally, Islamic banks operate according to Islamic laws and cater to the Muslim population. As of 2021, there were significantly more universal and commercial banks in the Philippines, even more than the number of thrift and rural and cooperative banks combined.