Banco Filipino Case Analysis
• CASE OVERVIEW
1964- Banco Filipino was established.
1969- Banco Filipino starts giving customers the ability to deposit in any online BF branch, making it the first bank to process online transactions in real-time.
1970- Banco Filipino started expanding into the countryside with its first provincial branch opening in Naga City.
1972- The bank's customer base grew to one million customers, even in the midst of martial law.
1975- It was voted as the most preferred bank in Metro Manila.
1981- The bank already had 89 branches, four billion pesos worth of assets, three million customers and three thousand shareholders.
July 17, 1984- Banco Filipino was forced to declare a Bank Holiday.
July 23, 1984- Banco Filipino declared a self-imposed bank holiday due to its illiquidity
January 25, 1985- Bangko Sentral ng Pilipinas ordered its closure over alleged insolvency.
1991- The Supreme Court declared that the Bank’s closure is illegal.
1994- The bank reopened fifteen out of its 92 original branches.
1995- Banco Filipino became a member of BancNet. After that, it launched the BF cash card.
1996- It issued its first Visa credit card.
1998- The Savings Bank was re-listed on the Philippine Stock Exchange.
1999- The Supreme Court declared that Banco Filipino is entitled to damages payments caused by its illegal closure.
2009- The Supreme Court allowed the Makati RTC to proceed with hearing the P18.8-billion damage suit filed by the Banco Filipino.
March 2010- The Makati RTC required the BSP to provide Banco Filipino with rehabilitation assistance and pay the latter costs in all amounting to atleast P30 billion pesos.
March 10, 2011- The Philippine Stocks Exchange (PSE) has delisted Banco Filipino from its official registry, rendering the bank unable to buy or sell shares of stocks.
March 15, 2011- Start of Bank Holiday
March 17, 2011- The BSP’s Monetary Board ordered the closure of Banco Filipino and placed it under
1964- Banco Filipino was established.
1969- Banco Filipino starts giving customers the ability to deposit in any online BF branch, making it the first bank to process online transactions in real-time.
1970- Banco Filipino started expanding into the countryside with its first provincial branch opening in Naga City.
1972- The bank's customer base grew to one million customers, even in the midst of martial law.
1975- It was voted as the most preferred bank in Metro Manila.
1981- The bank already had 89 branches, four billion pesos worth of assets, three million customers and three thousand shareholders.
July 17, 1984- Banco Filipino was forced to declare a Bank Holiday.
July 23, 1984- Banco Filipino declared a self-imposed bank holiday due to its illiquidity
January 25, 1985- Bangko Sentral ng Pilipinas ordered its closure over alleged insolvency.
1991- The Supreme Court declared that the Bank’s closure is illegal.
1994- The bank reopened fifteen out of its 92 original branches.
1995- Banco Filipino became a member of BancNet. After that, it launched the BF cash card.
1996- It issued its first Visa credit card.
1998- The Savings Bank was re-listed on the Philippine Stock Exchange.
1999- The Supreme Court declared that Banco Filipino is entitled to damages payments caused by its illegal closure.
2009- The Supreme Court allowed the Makati RTC to proceed with hearing the P18.8-billion damage suit filed by the Banco Filipino.
March 2010- The Makati RTC required the BSP to provide Banco Filipino with rehabilitation assistance and pay the latter costs in all amounting to atleast P30 billion pesos.
March 10, 2011- The Philippine Stocks Exchange (PSE) has delisted Banco Filipino from its official registry, rendering the bank unable to buy or sell shares of stocks.
March 15, 2011- Start of Bank Holiday
March 17, 2011- The BSP’s Monetary Board ordered the closure of Banco Filipino and placed it under