At least 16 people were confirmed dead when a passenger banca capsized in the waters off Ormoc City in central Philippines' Leyte province on Thursday afternoon, local media reported.

The Inquirer.net cited initial reports from coast guards stationed in Ormoc city, reporting that the motor banca was heading to Pilar town in Camotes island with 173 passengers on board.

The report said the boat sank just a few minutes after leaving the port.

Rescue operations are under way.