IF BUSINESSES were judged on adaptability and resilience, Philippine banks would take the cake. As one of the oldest industries in the country, these financial institutions have had their share of challenges. The list is long, from the 2008 Global Financial Crisis to the COVID-19 pandemic. This time, it’s no different. As rampant government corruption continues to unravel, tensions in the Strait of Hormuz have sent local pump prices to alarming levels. But as before, Philippine banks have remained strong, ushering in a new reality built on financial inclusion, digitalization, and cybersecurity.
BANKING ON A NEW REALITY Participants to the Manila Times Banking Roundtable. From left to right representing The Manila Times: Raymond Tribdino, Science and Technology Editor; Chin Wong, Consulting Editor; Arnold Belleza, Executive Editor, Ben Kritz, Editor and Columnist; John Patrick Malolos, Consulting Editor; Blanca Calilung-Mercado, President and COO, Anna Marie Ang-Thompson, CEO. Roundtable respondents (from left to right) Eduardo Francisco, President, BDO Capital & Investment Corp.; Alvin Arogo, Chief Economist and Head of Research Division, Philippine National Bank; Emilio ‘Jun’ Neri Jr., SVP and Lead Economist, Bank of the Philippine Islands; Carlo Lazatin, President, Financial Executives Institute of the Philippines (FINEX); Rio Mayuga, Head of Clients, Visa Philippines; Mel Migrino, PH Country Head and General Manager, Gogolook; Sheila Vasquez, BOD and VP for Finance, PICSPro National Chapter. PHOTOS BY J. GERARD SEGUIA
Industry overview
The Philippine banking system is dominated by big players comprising universal and commercial banks (UKBs). While the 44 banks belonging to this group account for only 9.5 percent of all 462 institutions in the whole banking system as of 1H2026, they have the biggest share in assets, according to data from the Bangko Sentral ng Pilipinas (BSP). At P29.04 trillion in total resources, big banks account for 93.3 percent of the overall assets of the banking industry
(See Table 1: The Philippine Banking System at a Glance).
The other groups cover less…
Read More: Thriving amid challenging times | The Manila Times
