Best Banks in the Philippines 2021

The following are the lists of best banks in the Philippines in 2021. Taken from the published ranking by the Bangko Sentral ng Pilipinas, the lists include the best commercial banks in terms of assets, deposits, capital, and loans.

It would be great to have savings and investments with these banks. If you are still a student and you are looking for the best bank to work for in the future, they are also recommended.

Update: Let us know which is the best bank for you in terms of customer service by leaving your experiences in the comments section.

Best Banks in the Philippines in 2021

We consider the following as the best banks in the Philippines to be banking with this 2021 because of their impressive growth and great performance. The top 5 are always BDO (Banco de Oro), Metrobank, Landbank, BPI (Bank of the Philippine Islands) and PNB (Philippine National Bank).

It’s obvious why BDO came up to the rank number 1 because it started the bank operations for the weekends. Every SM mall also has BDO. Apparently, SM employees and other employees get their salaries through their BDO bank account.

We can say BDO, Metrobank and BPI are also the best banks in terms of investment. They have their own trading platforms. Metrobank has launched the most advanced trading platform in the Philippines through its First Metro Sec Pro.

Euromoney cited Metrobank as the best bank in the country for the past few years. Metrobank is also one of the Strongest Banks in Asia.

PNB climbed up since it was acquired by Allied Bank. Landbank did a great job last year and this year as well. China Bank has done a massive growth in the past years.

Security Bank also done a great performance climbing up ahead after revamping their company. East West Bank is also doing a great performance just like Unionbank.

Taken from their published balance sheets, we have summed up the useful values and amounts associated with their assets, capital (Stockholder’s Equity), loans and deposits.

Notice that we listed the official data as of March 31, 2020. Data is shared by the BSP (Bangko Sentral ng Pililipinas). The figures will be updated every quarter.

Top 10 Best Banks in the Philippines in Terms of Assets

Amounts in Million Pesos

  1. BDO – 3,174,362.84
  2. Metrobank – 2,090,788.15
  3. Landbank– 2,071,174.28
  4. BPI – 1,900,052.58
  5. PNB – 1,080,529.59
  6. China Bank – 895,473.66
  7. Security Bank – 779,203.61
  8. DBP – 762,574.42
  9. RCBC708,896.50
  10. UnionBank – 681,854.89

Top 10 Best Banks in the Philippines in Terms of Deposits

Amounts in Million Pesos

  1. BDO – 2,521,985.79
  2. Landbank – 1,827,392.25
  3. Metrobank– 1,493,828.61
  4. BPI – 1,435,438.39
  5. PNB – 785,398.65
  6. China Bank – 703,772.87
  7. DBP – 559,681.71
  8. Security Bank – 503,887.16
  9. RCBC – 489,548.16
  10. UnionBank – 465,107.23

Top 10 Best Banks in the Philippines in Terms of Loans and Receivables, net

Amounts in Million Pesos

  1. BDO – 2,205,516.92
  2. Metrobank – 1,218,312.41
  3. BPI – 1,214,707.34
  4. Landbank – 863,504.93
  5. PNB – 649,887.61
  6. China Bank – 518,471.16
  7. RCBC – 485,786.35
  8. Security Bank – 469,104.94
  9. DBP – 404,374.49
  10. UnionBank – 321,887.66
best-banks-in-the-philippines

Top 10 Best Banks in the Philippines in Terms of Capital

Amounts in Million Pesos

  1. BDO – 370,704.35
  2. Metrobank – 296,922.64
  3. BPI – 271,085.59
  4. Landbank – 146,932.31
  5. PNB – 145,225.38
  6. Security Bank – 120,270.88
  7. UnionBank – 92,388.87
  8. China Bank – 90,616.17
  9. RCBC – 84,695.63
  10. DBP – 60,436.82

Best Banks in the Philippines in Terms of Customer Service

It’s your vote that counts here. Tell us your favorite bank in terms of service by commenting in the comment box. Share your experiences and why do you consider it as your favorite bank.

What about you, where do you put your savings, deposits and investments? Who do you count on when you need loans? Share about your banking experience by commenting.

Other Banking Guides:

About Fehl Dungo

Licensed Career Service Professional, tech investor, founder of Philpad, and published author of a poetry book at Barnes&Noble.

310 thoughts on “Best Banks in the Philippines 2021”

  1. Called 811-9111 UCPB to ask about my main branch. First very sarcastic employee. Second, Been placed on hold for 6 freaking minutes without checking back on me. What a great bank! 👎 Don’t worry I will spread the word.

    Reply
  2. Security Bank – while there is a “brand promise and commitment of Better Banking” Their online customer service is the worst of all banks. You cannot receive a single response to complains and requests. Is it really the trend now? Customer service representatives are dumb and if they response it does not usually address on what being asked for or is it just a delaying tactics on their part.

    Reply
    • I second that. As a customer living abroad, i cannot rely on security bank, even my branch of account to respond to my emails. Very disappointed. Once Im back in Philippines, will move my money and transfer all business transactions to a different bank.

      Reply
    • I agree to this and I can attest to it. They passed you on to a different representatives and not giving any resolution at all with your concern. They just wanted to collect fees from their client. The WORST bank #SecurityBank I in the Philippines and worst customer service ever.

      Reply
  3. You may also try PNB’s you first brand of service. The Officers and staff are really nice. It’s an amazing experience to bank with PNB. Try it, to believe it..

    Reply
  4. Hi everyone, please try PNB’s you first brand of service, it’s amazing. Staff and Officers are very friendly. Try it. Experience it. 😊

    Reply
  5. I suggest RCBC. it’s banking products and other investment need are there, its employee’s are well trained with proper discipline and most of all there smile for they’re clients makes it comfortable. I had just started saving with them and its a privilage to bank them. I am auspicious about their actions to provide good service.😊

    Reply
  6. RCBC is the best, specially Vivere Branch. Kudos to all employees there. Fast, accurate, and friendly service. Thank you RCBC Vivere Branch.

    Reply
  7. I love PSBank! It has good customer service. Most of my transactions right now are with them- fast processing.

    Reply
  8. Hi there! With BDO, long line, with Metrobank, cue card. With BDO, small loan interest rate but it’s an add-on rate, with Metrobank Loan, annuity rate and no add on rate. With BDO, go home late. But in Metrobank, HAPPY people, HAPPY customer, Go home late. The center of our heart, is to give excellent and quality service:-)

    Reply
  9. Not the biggest, but in terms of bank services, you can try PS Bank.

    Ambilis pa nang banking service nila. If you have an ATM Account, you can lock/ unlock. Nasa feature sa Mobile Apps nila yun Lock/ Unlock service. At least it would minimize fraud.

    Talo pa yung Metrobank nila in terms of technology.

    Reply
  10. the worst bank in the Phil is Union Bank.. They don’t have a friendly teller as well as they don’t provide any considerations with there clients. Its true!

    Reply
    • This is true. I hated the branch manager and put up with her for a long time because that was my only bank account. On top of that, starting July 17, 2017 their minimum average daily balance required is 100k Php and that’s for regular savings account. If you fall below that then take at least 1k Php fee which is ridiculous. 100k minimum is enough for a gold membership at Security Bank for a lot of perks. I just switched there and I love the customer service. They are so accommodating and the bank is so advanced in terms of technology. Check their website or you can go to your local branch and see for yourself.

      Reply
        • Agree! unionbank better improves their customer service and they have to be cosiderable.!!! I cant tell you how frustrated I am with Unionbank

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    • I had a VERY BAD experience with Chinabank last year 2018 ! I had account 3 years , All of a Sudden they CLOSED my Savings Account Didn’t give me any warning ! They even LIED to me about using a Generic Account Number ! I do not recommend Chinabank to my WORST Enemy ! I found out later they didn’t want anymore American Pensioners (Foreigners) to Apply ! I use BDO no Problems yet !

      Reply
  11. Beware of what you are told and to verify if it’s true just do it right then & there. I recently opened a peso savings account deposit but before filling out any form and going through the almost 2 hour process I asked several times if I can withdraw and convert the deposit to open a dollar savings account. I may have asked this 3 times and answer was always yes. I also asked about exchange rate used to buy/deposit the dollar and the fee(s) I have to pay.. Current dollar/peso rate will be used and no fee involved at all. I was doing some errands that day and the hours are getting long so I decided to make the deposit and return for the dollar conversion/deposit at another time. 2 weeks later when I returned to convert part of the peso deposit and open/deposit it into a dollar account , I was told I can’t because central bank regulations doesn’t allow it. Total bull, either person(s) I dealt with when opening account didn’t know or was lying. Like I said be careful when dealing with BDO employees.

    Reply
  12. I like BPI and BPI Family due to better service and lower bank fees. My only complaints are the phone support and not being able to pay gov’t agencies (namely SSS, Pag-ibig and Philhealth) online.

    If only this is available online, I would be soooooo happy. No more going to the bank to pay over the counter.

    Reply
    • I would suggest that you use G-Cash. G-Cash is totally connected with the said government agencies and is totally connected with BPI since both companies are controlled by Ayala Group. This will resolve your issue.

      Reply
  13. For all of you out there, if you are looking for good and knowledgeable bankers who will entertain your banking needs go for PNB and BPI. They are the ones who will entertain you even if you look like a scavenger.. Haha.. Followed by Security Bank.. Although phonebankers from BPI and Security Bank may irritate you..

    Go with Metrobank if you need snob and irate bankers.. BDO will find a way for you if you have like 25k and above. They’ll send you credit card without asking if you maintained your account not falling below 30k.. Most of the time their staff is also snob as they are always tired because a lot of depositors come and go.. And they mean business as they really charge a lot..

    If you would ask me about online banking facility, PNB has the best. For Phone Banking App, Security Bank is best and next is BPI.

    Yung EMV implementation, nauna nagpadala PNB ng bagong card, sunod BDO, then Security Bank.. BPI wala yatang balak.. Ni hindi alam ng phone banker kung ano yung EMV..

    Reply
    • It depends on what branch on Metrobank. I don’t have problem with the bankers on my maintaining branch. Accommodating & friendly sila.

      I do not know about PNB as online banking facility… I have PNB Credit Card, but I don’t think they are the best. PNB has excellent credit card but not their online facility. Palagi silang down. If I am looking for the best online banking facility, it has to be Citibank. Laging updated yung transactions mo, whether on phone app or sa website nila.

      Reply
      • Sad for me lahat ng napuntahan kong Metrobank eh masusungit ang officer sa desk ng new accounts.. Yung PSBank nila okay naman sa palagi super bait..

        Not sure kung gaano ka frequent yung pag down ng online banking system pero di ko pa naman na encounter with PNB.. Siguro kaya ko nasabi na best eh napaka bilis ng lahat at madali gamitin.. Yung app nga lang nila eh walang kasing impakto.. hahahaha

        Citibank di ko pa na try..

        Reply
          • Xander, EMV equipped na ba ang ATM Card mo ng BPI o Credit Card? Kasi po yung Credit Card lang po at ATM Machine ang EMV equipped. Sorry po kasi hindi ko alam kung ano yung ibig sabihin ng fact sa iyo. Pero totoo po sinasabi ko, tumawag ako sa phone banker hindi nya alam what I mean with EMV.. Tapos yung sa mismong bank po sabi sa akin eh wala pa silang advisory at sa CC pa lang talaga nila gamit noon pa.

          • @ sam DO NOT JUDGE BPI na walang EMV base sa isang nakausap mo.
            wag po tayung mang generalized at wag kang tanga.
            sabi na nga sa taas na since 2014 pa ayaw mo maniwala
            e di wow! ikaw naaaaaa

          • @xxeeria – wag kang bumanat ng pagka squatter mo dito. Una sa lahat maayos ang usapan dito. Walang nagmamagaling o ano pa man. Pangalawa para sabihin ko sayo, branch manager na ng BPI kausap ko.. Matagal na EMV equipped ang Credit 2014 pa pero ang Debit hindi.. Machines EMV ready 2016.. Paki ayos ng pag uugali.. May judge judge ka pang nalalaman.. Ugali mo asal..

    • I Think The Best Banking Mobile App (in my opinion) is PNB Why?
      – Access your Bank Account with Touch ID (for iPhone which Security Bank Does)
      – Design of the App is Superb (not like BDO is just Old Style! ??)
      – Check Your Balance, Pay Bills, Fund Transfer with Ease

      And the Killer Feature Which is i really Love is…
      – The AR (Augmented Reality) Branch/ATM Finder

      Reply
    • BDO is the worst bank ever! They claim that they are the best because they are the biggest. but it is not true. their service is too lousy. My father withdraw from their atm and it did not dispense any cash. they have the cctv footage and even the teller beside my dad witnessed it. then they asked us to file a complain. after 2 months, they are asking us a processing fee of 1200 pesos to investigate the issue! WTF!!! it was their machine’s fault, they have the cctv and the teller testified that the atm really did not dispense the money then we need to pay for processing fee!

      Reply
      • It also happened to me with Metrobank. When I first called them, I was told to keep my receipt for reference. However, it wasn’t needed anymore. They just followed up with me and told me that my money will be back in my account within 3 business days. After 3 days, I checked my account and it was there! No extra fees collected, no charges at all. They were so accommodating and I didn’t even had a hard time explaining the issue and dealing with them to resolve it. Hope yours can be resolved ASAP.

        Reply
    • Security Bank is good if you are in the branch but don’t expect a single response from their online banking representatives or customer service representative for your queries or online enrolment issues they are the worst I think.

      Reply
  14. Hello everyone,i want to get a bank account here can u suggest me which is the best bank for me, i need this account for international wire transfer. I have to receive the wired money thru this account. So pls suggest me which is best interms of wire transfer charges
    Thanks in advance.
    God bless.

    Reply
  15. BPI, best in Customer Service? Seriously? When customer service is mentioned, I’m also considering not just the service provided in whatever medium. I also consider the ease of use of their channels and for me BPI is the worst bank ever. from online to atm to actual service provided in their branches. ATM and online banking is always down especially during pay day hahaha

    Reply
  16. I went to bdo evangelista makati branch this morning oct the 21st at 9am to withdraw cash. My atm card has been missing I had to get cash over the counter. The representative assisting me was very polite and helpful.
    She had to send fax to the atms main branch because she couldnt find the scanned signature of my account.
    I myself worked as customer service representative in the call center industry.
    In this industry we have to be polite helpful to make customers very satisfied but sometimes we cant help ourselves we cannot control the emotion our tone of voice changed for rude abusive and customers behaving badly (on a very rare occassion).
    This representative of bdo took care of what I need. And not only that I was well informed of what she had to do she set my expectation correctly she always gave me update I can see that she is working on my issue. She gave me helpful suggestion she asked me to stay and wait because it wont take that long before she could get a reply from the main branch. She was very kind.
    I got the cash in less than 30 mins. Because of her continous follow up. She helped me Im very satisfied.
    I hope that every bdo rep is just like her.
    Well anyone can help but not this rep she went the extra mile.I can feel that shes taking care of my issue.
    I also had an unpleasant experience prior to withdrawing the cash I had to call customer contact center before going to bdo branch regarding the lost atm i’d rather not talk about it.

    The rep of this branch
    helped me a lot I hope that the management can read this she deserves a raise I hope that you’ll have more of reps like her on all ur branches it will be great to do business with u.

    Reply
  17. BDO SUCKS BIG TIME!

    Kung meron kang checking account dito magpalit ka na. was charged 2,200 pesos for a bounced check. Ok lang sana yung 1,200 kasi i overlooked my deposit. Pero I asked why they don’t have notifications with the bounced check, e sa lahat ng gawin ko sa account ko meron silang email and verification sms. Ganda pa naman ng motto nila “WE FIND WAYS”

    .. Savings wag na rin sa haba ng pila lagi.

    Reply
  18. I opened an account in EastWest Bank in E. Rodriguez Cubao Branch. they staff there are so good even the guards! for just 100 initial deposit you can have their E.W. Basic Savings account and it comes with a VISA Debit card!

    Reply
    • I agree with you sir. Halos lahat ng napuntahan ko na EastWest branches, wala pa akong napasukan na hindi ka icocomfort. Mababait at accommodating yung mga guadrs lalo na yung mga tellers nila. Maganda din ang service nila mapa online man or personal transaction.

      Reply
  19. Been searching for another bank which I could open a savings account with – aside from BPI (which I already have) because I want an account which wouldn’t be accessible for me for savings purposes.

    I initially wanted to open an account with BDO, but after learning these things, I don’t want to anymore.

    1. They charge customers with transaction fee for just about anything you do. Every move you make with BDO, there’s a corresponding fee. I encashed a check last Saturday in BDO MOA – and the teller asked me that there’s a P100 transaction fee because it was an interbranch transaction. So does this mean I could only freely do transactions in my home branch? What if I move houses, and my home branch is no longer convenient for me?

    2. They also have transaction fees for provincial vs. Metro Manila inter-branch transactions.

    3. Deposit machines aren’t hugely available

    4. No queuing system. You have to line up manually, hence, if you leave your line to go to the loo or something, you’d have to line up all over again (unless of course you ask the person near you to save your spot).

    5. Writing on forms. Seriously? BPI does this electronically.

    6. Mobile app is not that great as compared to BPI’s.

    That’s all. I’m trying to check out Metrobank next. 🙂

    Reply
    • If you choose Metrobank:

      1-2 . I can’t answer these ones
      3. Walang masyadong deposit machine
      4. No queing din. Priority number, just like BPI.
      5. Metrobank is still writing on forms. like deposit slip, withdrawal slip, payment slip
      6. Never mind their mobile app.

      I have Metrobank account, BTW. TBH, I like Metrobank coz I can pay my credit card, utilities, insurance, telecommuncations, etc. through online banking nila. Tamad ako magpila sa bank just to pay the bills. When depositing, magpapasuyo ako sa messenger/ driver sa office namin. palagi naman siyang pumunta sa Metrobank.

      Reply
    • MANGANGAWIT ka sa kakatayo sa pagpila ng mahaba sa BDO.. Gayahin na lang sana nila ang BPI na nakaupo ka lang habang naghihintay na tawagin ang number mo.

      Reply
    • For Metrobank there is No interbranch transaction charge on the same region. For example if your account is within NCR and you deposit at another branch which is also in NCR there will be no charge. Internet banking with metrobank is great. You can pay bills online.

      Reply
  20. Hi,

    I am doing a research on second-hand car loans market in the Philippines. To verify the figures above, may I request where the figures came from?

    Thanks.

    Reply

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