The Philippine balete tree is a type of banyan tree, as “balete” refers to certain species in the Ficus genus (family Moraceae), which includes banyans. In the Philippines, “balete” commonly refers to species like Ficus balete or Ficus microcarpa, which share the banyan’s characteristic aerial prop roots and strangling growth habit.
Ficus benghalensis (the true banyan) is also present but less commonly called balete locally. So, while a balete is a banyan-like tree, the term “balete” in the Philippines often applies to native Ficus species with similar traits.