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.

Showing 1 Banks in Philippines


News related with Philippines Banks

Hanjin mess unlikely to shake Philippine banks — Fitch unit - Philippine Star

... StarBanks downplay Hanjin crisis impact  RapplerBanks paint 'manageable' Hanjin risk  BusinessWorld OnlineHanjin's woes to have little impact on banking sector's creditor banks play down size of loan exposures  ABS-CBN NewsView full c...


Philippine banks seek to collect millions from downturn-hit Hanjin - ABS-CBN News

... to collect millions from downturn-hit Hanjin  ABS-CBN NewsLocal banks grapple with biggest default in PH corporate hist...


Philippines seeks Islamic funding to develop halal industry in Mindanao - Gulf Times

... funding to develop halal industry in Mindanao  Gulf TimesPassengers take a ferry to Samal Island as container ships sit m...


World Bank doubles Philippines disaster insurance coverage to $390 million - Philippine Star

... $390 million  Philippine StarThe World Bank has doubled the coverage of its disaster risk insurance program for the Philippines to enable the country to better cope with losses arising from ......


Biggest bankruptcy -

... P21.42 Billion, Hanjin's is the biggest loan default in the history of Philippine banking. And yet the central bank and the five local creditor banks ......


Philippine court orders jail for former bank manager over Bangladesh central bank heist - Channel NewsAsia

... central bank heist  Channel NewsAsiaMaia Deguito, then-manager of the Rizal Commercial Banking Corp (RCBC) branch in Manila's financial district, gestures as she answers a question during a ......


Some of the Philippines’ Biggest Managers Return to Buying Bank Stocks - Bloomberg

... Biggest Managers Return to Buying Bank Stocks  BloombergSome of the largest money managers in the Philippines are putti...



Add a New Bank in Philippines

Bank's name:


Bank's Webpage (URL):


Select a Country: