MANILA -- Quezon City is still the Philippines' wealthiest city in terms of assets, a 2022 report from the Commission on Audit (COA) showed.

According to state auditors, Metro Manila's largest and most populous city has assets totaling P443.406 billion, down from the P451.007 billion it had in 2021.

Cebu, meanwhile, also retained its place as the country's richest province, with assets of up to P235.738 billion, up from the P215.27 billion it had last year.

The country's 10 richest cities are:

• Quezon City: P443.406 billion
• Makati: P239.478 billion
• Manila: P77.506 billion
• Pasig City: P52.152 billion
• Taguig: P40.840 billion
• Mandaue: P34.231 billion
• Cebu City: P30.545 billion
• Mandaluyong P32.550 billion
• Davao City: P29.701 billion
• Paranaque: P27.376 billion

Meanwhile, the 10 richest provinces of the Philippines are:

• Cebu: P235.738 billion
• Rizal: P35.594 billion
• Batangas: P31.999 billion
• Davao de Oro: P23.107 billion
• Ilocos Sur: P21.562 billion
• Bukidnon: P21.058 billion
• Iloilo: P19.977 billion
• Negros Occidental: P19.419 billion
• Cavite P19.342 billion
• Pampanga P19.127 billion

The town of Carmona in Cavite is also still the country's richest municipality, with P6.522 billion in assets.

Carmona had P6.211 billion in assets in 2021.

The wealthiest municipalities in the Philippines are as follows:

• Carmona, Cavite - P6.522 billion
• Limay, Bataan - P 5.791 billion
• Silang, Cavite - P4.454 billion
• Caluya, Antique -P3.822 billion
• Cabugao, Ilocos Sur - P3.805 billion
• Cainta, Rizal - P3.766 billion
• Taytay, Rizal - P3.670 billion
• Binangonan, Rizal - P3.489 billion
• Sta. Maria, Ilocos Sur - P3.267 billion
• Sta. Cruz, Ilocos Sur - P3.215 billion

The figures are included in the 2022 Annual Financial Report for Local Government prepared by COA, as mandated by the Constitution and the Government Auditing Code of the Philippines.

The report covers financial statements of 1,685 or 98.25 percent of the 1,715 local government units, consisting of 81 provinces, 147 cities, 1,487 municipalities and the Bangsamoro government composed of 27 ministries and offices.