Assets in trust of top twelve banks hit record P707.5B

The country’s top 12 trust operations last year reached a record P707.5-billion assets under management (AUM), or nearly 30 percent better than the P544.3 billion in 2003.

End the year with the largest basket was the trust group of the Bank of the Philippine Islands (BPI) with P159.9-billion AUMs. At the end of 2003, the AUMs was lower by almost 20 percent at P134 billion which was good enough to top the 10 best.

As expected, the trust department of the Metropolitan Bank and Trust Co. (Metrobank) came in a close second with AUMs reached P146 billion last year, or roughly 37 percent better than the P106 billion the year before.

The third to seventh top performers last year was exactly the same as in 2003.

Equitable PCI Bank came in third in both period followed by Banco de Oro Universal Bank (BdO), the Rizal Commercial Banking Corp. (RCBC), China Banking Corp. (China Bank), and the United Coconut Planters Bank (UCPB).

Equitable managed assets worth P101.3 billion last year over the P82.7 billion the previous year while BdO maintained its fourth slot with P86.3-billion AUMs up from the P64.3 billion in 2003.

In fact, the top four banks accounted for more than half of the AUMs among the top 12, or P493.6 billion of the total P707.5 billion.

RCBC managed P58.9 billion last year from the 49.8 billion and China Bank accounted P38.1-billion AUMs from the P33.4 billion in 2003.

Taking the seventh slot for the past two years was UCPB managing assets of P29.6 billion in 2004, slightly better than the P28 billion the year before.

The eight to 10th positions saw changes last year from the previous year.

In 2004, foreign player Deutsche Bank bagged the eight spot with P19.8-billion AUMs followed by the Land Bank of the Philippines (LBP) managing P18.3-billion assets.

In 10th position is another foreign bank player ING Bank with P18.2-billion AUMs.

In 2003, the eight position was held by the Development Bank of the Philippines (DBP) followed by Deutche Bank and ING Bank.

Of the total P159.9-billion AUMs, the BPI managed P73.4 billion in trust and other fiduciary assets, P39.4 billion in common trust funds (CTFs), and P47 billion in investment funds management (IFMAs) such as pre-need trust funds.

In contrast, Metrobank was the leader in managing CTFs worth P88 billion, P56 billion in trust and fiduciary accounts, and P1.4 billion in IFMAs.

Equitable had the second largest CTF accounts of P54.9 billion, P44 billion in trust and fiduciary accounts, and a mere P1.1 billion in IFMAs.

BdO managed P52 billion in CTFs, P21.9 billion in trust and other fiduciary accounts, and P12-billion IFMAs.