Banks in Philippines

Banks and Saving banks in Philippines



The Philipines' banking system comprehends several types of banks, and one can find universal banks (19), commercial banks (19), thrift banks (73), rural banks (595) credit unions (40) and non-banks which are almost banks if one checks its functions (15). Central Bank of Philipines gives license to all of them.

 

Commercial banks can accept savings and deposits, issue mortages, be an agent for government entities, and they can work with other finantial companies. They can also acquire market bonds, issue letters of credit or bills of exchange (Asia United Bank or Philipine Bank of Communications are two examples). Universal banks have the same duties and powers as commercial ones, but they can also invest in non-allied enterprises (Land Bank of the Philipines is one of them).

 

A thrift bank can do the same transactions as a commertial bank, but they are not allowed to acquire market bonds (Central Bank of Philipines have to approve it), for example, and they are depository bank for government and local government units. Rural and cooperative banks are located in rural communities and they promote and boost their economy. While rural banks are privately owned, cooperative banks are owned by cooperatives or a federation of them.

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Philippines Banks to Use Visa's Blockchain Payments Platform - CoinDesk

... PlatformCoinDeskFive banks in the Philippines are reportedly grouping up to use Visa's blockchain-based payment platform. As part of a new arrangement, the Union Bank of the Philippines (UnionBank) will assist four unnamed rural banks that are seeking to boost the ......

 

Philippines Banks Ink Deals to Adopt Visa Blockchain Payments Platforms - Strategic Coin

... regional effort is being spearheaded by the publicly-listed Union Bank, which is headquartered in Manila, and the firm has already signed on four rural banks, according to a report in the Philippine News Agency. Visa first announced the blockchain ...and more »...

 

Philippine CB Cuts Banks' Reserve Ratio | Financial Tribune - Financial Tribune

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BSP cuts banks' reserve requirement - Rappler

... Bangko Sentral ng Pilipinas (BSP) cut the percentage of deposits a bank is required to keep on hand in a bid to free up more capital for lending in what is a growing economy. The BSP announced on Thursday, February 15, that ...BSP cutting banks' reserve requirementThe NationSurprise cut in bank reserve seen to trigger peso weaknessInquirer.netEconomist eyes fur...

 

Philippine central bank holds rate steady, says inflation spike will moderate - Reuters

... bank remains watchful against signs of second-round effects and inflation becoming broader-based, Espenilla said, adding that policymakers “stand ready to take appropriate measures” as needed to keep prices stable. Gareth Leather, senior ...Philippine Central Bank Running Out of Time as It Holds RateBloombergUPDATE 1-Philippine c.bank holds rate steady, says inflation spike will moderateKitco NewsPhilippines central bank on hol...

 

San Miguel Taps Banks for Biggest Philippine Share Sale - Bloomberg

... Philippine Share SaleBloombergSan Miguel Corp., the biggest Philippine company by revenue, has asked investment banks to pitch for a role in a planned sale of shares in its listed food business this year, pe...

 

 

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