ORMOC City remains unchallenged as the wealthiest among the seven cities of Eastern Visayas in 2021, topping the list in both assets and income.
Based on separate financial statements submitted to the Commission on Audit, Ormoc ended the year with P6.833 billion in assets against liabilities amounting to P893.93 million for an equity of P5.94 billion.
During the year, it also posted an income of P1.789 billion — the highest of any cities in the region.
Running second is Calbayog City with total assets of P4.934 billion against P775.97 million in liabilities for P4.158 billion in equity. Its income kept pace with that of the leading city at P1.66 billion.
Third in the list is Baybay City, whose assets of P4.4 billion against P924.42 million liabilities gave it an equity of P3.444 billion. The city’s earnings in 2021 reached P1.167 billion.
Tacloban City came in fourth in assets with P4.259 billion but because of liabilities totaling P1.35 billion — highest among all the cities in Region 8 — it dropped to fifth place in terms of equity with P2.909 billion, just behind Maasin City (P3.908 billion assets, P338.33 million liabilities, P3.908 billion equity).
The seven cities ranked in assets: Ormoc City (P6.833 billion), Calbayog City (P4.934 billion), Baybay City (P4.402 billion), Tacloban City (P4.259 billion), Maasin City (P3.908 billion), Borongan City (P2.372 billion), and Catbalogan City (P1.685 billion).
Arranged according to 2021 income: Ormoc City (P1.789 billion), Calbayog City (P1.659 billion), Tacloban City (P1.441 billion), Baybay City (P1.167 billion), Borongan City (P952.2 million), Catbalogan City (P885.51 million), and Maasin City (P796.76 million).
The combined incomes of the seven cities showed a modest increase year on year from P8.495 billion in 2020 to P8.691 billion in 2021.
