No worries: Fitch unit vouches for BDO, BPI, Metrobank, RCBC amid global banking turmoil

A unit of credit rater Fitch Ratings has expressed confidence in the stability of four major Philippine banks amid the turmoil in global financial markets due to the collapse of Silicon Valley Bank and woes hounding Credit Suisse.

Fitch’s CreditSights said depositors and clients of the Sy-owned BDO, Ayala-owned Bank of the Philippine Islands, Ty-owned Metrobank and the Yuchengco Group’s Rizal Commercial Banking Corp. (RCBC) can rest easy that their money is secure.

“Overall, we remain comfortable with the first-tier banks due to their bigger size, ability to withstand funding cost pressure, larger corporate books, good capital and loan loss buffers and relative stability in operating performance,” CreditSights said in a report.

“The first tier banks with their larger and more established franchises have been able to keep funding cost pressure relatively well-controlled (thanks to higher CASA (current account and savings account) ratios) as system liquidity tightened in 2022,” it added.

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