Banks in the Philippines
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List of banks in the Philippines
From Wikipedia, the free encyclopedia
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks. As at 31 March 2011, there are 19 universal banks, 19 commercial banks, 73 thrift banks, 595 rural banks, 40 credit unions and 15 non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas(Central Bank of the Philippines) under Republic Act No. 8791, also known as the General Banking Act of 2000, share roughly the same powers.
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Powers of a universal bank
A universal bank has the same powers as a commercial bank with the following additional powers: the powers of an investment house as provided in existing laws and the power to invest in non-allied enterprises.
List of local universal banks
Government-owned
* Al-Amanah Islamic Investment Bank of the Philippines * Development Bank of the Philippines * Land Bank of the Philippines
[edit]Private-owned
1. Banco de Oro Universal Bank 2. Metropolitan Bank and Trust Company 3. Bank of the Philippine Islands 4. Philippine National Bank 5. Rizal Commercial Banking Corporation 6. UnionBank of the Philippines 7. China Banking Corporation 8. Citibank 9. East West Bank 10. Philippine Savings Bank 11. Philtrust Bank (Philippine Trust Company) 12. Security Bank 13. United Coconut Planters Bank 14. Allied Bank Corporation
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[edit]Powers of a commercial bank
In addition to having the powers of a thrift bank, a commercial bank has the power to accept drafts and issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; accept or create demand
List of banks in the Philippines
From Wikipedia, the free encyclopedia
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks. As at 31 March 2011, there are 19 universal banks, 19 commercial banks, 73 thrift banks, 595 rural banks, 40 credit unions and 15 non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas(Central Bank of the Philippines) under Republic Act No. 8791, also known as the General Banking Act of 2000, share roughly the same powers.
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Powers of a universal bank
A universal bank has the same powers as a commercial bank with the following additional powers: the powers of an investment house as provided in existing laws and the power to invest in non-allied enterprises.
List of local universal banks
Government-owned
* Al-Amanah Islamic Investment Bank of the Philippines * Development Bank of the Philippines * Land Bank of the Philippines
[edit]Private-owned
1. Banco de Oro Universal Bank 2. Metropolitan Bank and Trust Company 3. Bank of the Philippine Islands 4. Philippine National Bank 5. Rizal Commercial Banking Corporation 6. UnionBank of the Philippines 7. China Banking Corporation 8. Citibank 9. East West Bank 10. Philippine Savings Bank 11. Philtrust Bank (Philippine Trust Company) 12. Security Bank 13. United Coconut Planters Bank 14. Allied Bank Corporation
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[edit]Powers of a commercial bank
In addition to having the powers of a thrift bank, a commercial bank has the power to accept drafts and issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; accept or create demand