Jump to content

List of banks in the Philippines

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 64.195.130.114 (talk) at 07:02, 13 January 2010 (Quezon). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks. At present, there are seventeen universal banks, 23 commercial banks, 84 thrift banks, 711 rural banks, 44 credit unions and twelve non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas.

Commercial and universal banks

Commercial and universal banks under Republic Act No. 8791, also known as the General Banking Act of 2000, share roughly the same powers.

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 deposits; receive other types of deposits and deposit substitutes; buy and sell foreign exchange and gold or silver bullion; acquire marketable bonds and other debt securities; and extend credit.

List of local commercial banks

List of foreign banks with commercial banking operations

Branches
Subsidiaries

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
Privately owned

Thrift banks

Powers of a thrift bank

A thrift bank has the power to accept savings and time deposits, act as a correspondent with other financial institutions and as a collecttion agent for government entities, issue mortgages, engage in real estate transactions and extend credit. In addition, thrift banks may also maintain checking accounts, act as a depository for government entities and local government units and engage in quasi-banking and money market operations subject to the approval of the Bangko Sentral.

List of local thrift banks

Government-owned
Privately owned

List of foreign banks with thrift banking operations

Cooperative and rural banks

Rural and cooperative banks are the more popular type of banks in the rural communities. Their role is to promote and expand the rural economy in an orderly and effective manner by providing the people in the rural communities with basic financial services. Rural and cooperative banks help farmers through the stages of production, from buying seedlings to marketing of their produce. Rural banks and cooperative banks are differentiated from each other by ownership. While rural banks are privately owned and managed, cooperative banks are organized/owned by cooperatives or federation of cooperatives.

A rural bank has the power to provide adequate credit facilities to farmers and merchants or to cooperatives of such farmers and merchants and, in general, to the people of the rural communities of which the rural bank operates in.

List of cooperative banks

List of rural banks


Defunct or merged banks