Banks in Philippines

 

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 Sohel
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 exchang,;l;e, 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.

 Central bank

• Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was rechartered on July 3, 1993, pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP was established on January 3, 1949, as the country’s central monetary authority.

 

 Universal banks

Allied Bank
Banco de Oro Universal Bank
Bank of the Philippine Islands
Chinabank
Metropolitan Bank and Trust Company
Philippine National Bank
Rizal Commercial Banking Corporation
Security Bank
Union Bank of the Philippines
United Coconut Planters Bank
 

List of local commercial banks

Commercial banks

Asia United Bank
Bank of Commerce
East West Bank
Export and Industry Bank
International Exchange Bank
Philippine Bank of Communications
Philippine Veterans Bank
Philtrust Bank

 Thrift banks

Banco Filipino
Centennial Savings Bank
Citystate Savings Bank
Luzon Development Bank
Orion Bank
Philippine Savings Bank
Planters Development Bank
Premiere Development Bank
Real Bank

 Rural banks

Banco San Juan
Bank of Florida
One Network Bank
Rural Bank of Alaminos (Laguna)
Rural Bank of Dolores
Rural Bank of San Pablo

 Government banks

Bangko Sentral ng Pilipinas (Central bank)
Development Bank of the Philippines
Land Bank of the Philippines
Philippine Postal Savings Bank
Rural Bank of Tanay

 Islamic banks

• Al-Amanah Islamic Investment Bank of the Philippines

 Special banks

• Asian Development Bank

 Microfinance institutions

• Quedan and Rural Credit Guarantee Corporation

 Foreign banks

ABN AMRO
Bank of China
Chinatrust Bank
Citibank
DBS Bank
HSBC
Keppel Bank
Maybank
Standard Chartered Bank
United Overseas Bank

 Defunct or merged banks

Equitable PCI Bank (acquired by Banco de Oro Universal Bank)
Far East Bank (acquired by Bank of the Philippine Islands)
Insular Savings Bank (acquired by Citibank, renamed Citibank Savings)
International Exchange Bank (merged with Union Bank of the Philippines)
Monte de Piedad Savings Bank (acquired by Keppel Bank)
Philippine Commercial International Bank (merged with Equitable Bank, renamed Equitable PCI Bank)
Prudential Bank (acquired by Bank of the Philippine Islands)
Urban Bank (closed then merged with Export and Industry Bank)
Keppel Bank (acquired by GE Money, renamed GE Money Savings Bank)
Solidbank (acquired by Metropolitan Bank and Trust Company)
 

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
Philippine Postal Savings Bank
Privately owned
Accord Savings Bank
Allied Savings Bank (subsidiary of Allied Bank)
Anchor Savings Bank
Area Development Bank
Asiatrust Development Bank
Banco Filipino
Bank of Calape
Bank of Cebu
Bankwise
Bataan Development Bank
Bataan Savings and Loan Bank
BPI Direct Savings Bank (subsidiary of Bank of the Philippine Islands)
BPI Family Savings Bank (subsidiary of Bank of the Philippine Islands)
Business and Consumers Bank
Centennial Savings Bank
Century Savings Bank
Chinabank Savings (formerly Manila Bank; subsidiary of Chinabank)
City Savings Bank
Citystate Savings Bank
Cordillera Savings and Loan Bank
Dumaguete City Development Bank
Dungganon Bank
EIB Savings Bank (subsidiary of Export and Industry Bank)
Equicom Savings Bank
Express Savings Bank
Farmers Savings and Loan Bank
First Consolidated Bank
GSIS Family Bank (subsidiary of the Government Service Insurance System)
Hiyas Bank
Iloilo City Development Bank
Inter-Asia Development Bank
ISLA Bank
Kauswagan Bank
LBC Bank (subsidiary of LBC Express Corporation)
Legazpi Savings and Loan Bank
Lemery Savings and Loan Bank
Liberty Savings and Loan Association
Life Savings Bank
Luzon Development Bank
Malasiqui Progressive Savings and Loan Bank
Malayan Bank
Manilabank
Merchants Savings and Loan Association
Metro Cebu Public Savings Bank
Micro Enterprise Bank
Northpoint Development Bank
Opportunity Microfinance Bank
Optimum Development Bank
Orion Bank
Pacific Ace Savings Bank
Palawan Development Bank
Pampanga Development Bank
Peñafrancia Savings and Loan Association
Philam Savings Bank (subsidiary of Philam Life)
Philippine Business Bank
Philippine Savings Bank (Metrobank Group)
Pilipinas Savings Bank
Planters Development Bank
Premiere Development Bank
Progress Savings and Loan Association
Queen City Development Bank
Quezon Coconut Producers Savings and Loan Bank
RCBC Savings Bank (subsidiary of Rizal Commercial Banking Corporation)
Robinsons Savings Bank (subsidiary of JG Summit Holdings)
Sampaguita Savings and Loan Association
San Pablo City Development Bank
Sandigan Savings Bank
Silangan Savings and Loan Bank
Sterling Bank of Asia
The Real Bank
Tower Development Bank
UCPB Savings Bank (subsidiary of United Coconut Planters Bank)
University Savings and Loan Bank
Village Savings and Loan Association
Vizcaya Savings and Loan Association
Wealth Development Bank
Winbank
World Partners Bank
List of foreign banks with thrift banking operations
Citibank (through Citibank Savings)
GE Consumer Finance (through GE Money Bank)
HSBC (through HSBC Savings Bank)
JPMorgan Chase & Co.
United Overseas Bank
Metro bank

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
Agusan del Norte Cooperative Bank
Bataan Cooperative Bank
Camiguin Cooperative Bank
Capiz Settlers Cooperative Bank
Cooperative Bank of Agusan del Sur
Cooperative Bank of Aklan
Cooperative Bank of Aurora
Cooperative Bank of Benguet
Cooperative Bank of Bohol
Cooperative Bank of Bukidnon
Cooperative Bank of Bulacan
Cooperative Bank of Cagayan
Cooperative Bank of Camarines Norte
Cooperative Bank of Camarines Sur
Cooperative Bank of Cavite
Cooperative Bank of Cebu
Cooperative Bank of Davao del Sur
Cooperative Bank of Ilocos Norte
Cooperative Bank of Iloilo
Cooperative Bank of La Union
Cooperative Bank of Lanao del Norte
Cooperative Bank of Misamis Oriental
Cooperative Bank of Mountain Province
Cooperative Bank of Negros Oriental
Cooperative Bank of Cotabato
Cooperative Bank of Nueva Ecija
Cooperative Bank of Palawan
Cooperative Bank of Pampanga
Cooperative Bank of Quezon Province
Cooperative Bank of Surigao del Sur
Cooperative Bank of Tarlac
Cooperative Bank of Zambales
Cooperative Bank of Zamboanga del Norte
Cooperative Bank of Zamboanga del Sur
Countryside Cooperative Bank of Batangas
First Isabela Cooperative Bank
Ilocos Sur Cooperative Bank
Leyte Cooperative Bank
Metro South Cooperative Bank
National Teachers and Employees Cooperative Bank
Occidental Mindoro Cooperative Bank
Samahang Nayon Cooperative Bank of Nueva Vizcaya
Sorsogon Provincial Cooperative Bank
Southern Leyte Cooperative Bank
List of rural banks
Agusan del Norte
Butuan City Rural Bank
Green Bank
Agusan del Sur
Peoples Bank of Caraga, Inc.
Enterprise Bank
Aklan
Rural Bank of Altavas
Rural Bank of Balete
Rural Bank of Banga
Rural Bank of Kalibo
Rural Bank of Makato
Rural Bank of New Washington
Rural Bank of Numancia
Albay
Cagsawa Rural Bank
Ibalon Rural Bank
{[Rural Bank of Guinobatan]}
Bataan
Balanga Rural Bank
Orani Rural Bank
Rural Bank of Abucay
Rural Bank of Bagac
Batangas
5 Speed Rural Bank
Balayan Bay Rural Bank
Banco Batangan
Banco ng Masa
Bangko Kabayan
Batangas Rural Bank for Cooperatives
Bolbok Rural Bank
Classic Rural Bank
Dynamic Bank
Empire Rural Bank
Excel Rural Bank
Farmers Rural Bank
First Coconut Rural Bank
Limcoma Rural Bank
Lipa Bank
Lipa Public Bank
Lobo Rural Bank
Malarayat Rural Bank
Mount Makiling Rural Bank
New Rural Bank of Agoncillo
President Jose P. Laurel Rural Bank
Progressive Rural Bank
Rural Bank of Alitagtag
Sto Rosario Rural BAnk
Benguet
Benguet Center Bank
Diamond Rural Bank
Highland Rural Bank
Rural Bank of Baguio
Bukidnon
Asian Hills Bank
Malaybalay Rural Bank
Bulacan
Agricom Rural Bank
Apex Rural Bank
Baliuag Rural Bank
Banco Rural de General Tinio
Bangko Luzon
Bangko Rural ng Kalumpit
Rural Bank of San Pascual inc.
Delmont Bank (Rural bank of San Jose del Monte City)
East Coast Rural Bank of Hagonoy
Emerald Rural Bank
Fil-Agro Rural Bank
Gateway Rural Bank
La Consolacion Rural Bank
Rural Bank of Angat
Rural Bank of Doña Remedios Trinidad
Silahis Bank
Camarines Sur
Bangko Rural ng Magarao
Bangko Rural ng Pasacao
First Naga Rural Bank
G-7 Bank
Municipal Rural Bank of Libmanan
Municipal Rural Bank of Nabua
Peñafrancia Rural Bank of Calabanga
Rural Bank of Sipocot, Inc.
Rural Bank of Pamplona, Inc. - Sipocot Branch
Rural Bank of Minalabac, Inc. - Sipocot Branch
Rural Bank of San Fernando
Rural Bank of Libmanan
Rural Bank of Cabusao
Rural Bank of San Jose
Rural Bank of Pili
Rural Bank of Milaor
Rural Bank of Ragay
Rural Bank of Iriga
Camiguin
Mambajao Community Rural Bank
Philippine Intercity Rural Bank
Capiz
Farmer's Bank of Capiz
President Roxas Rural Bank
Rural Bank of Mambusao, Inc.
Cavite
Advance Rural Bank
Bangko Mabuhay
Capitol City Rural Bank of Trece Martires
Cavite Rural Banking Corporation
Cebuana Lhuillier Rural Bank
Central Equity Rural Bank
Community Bank
First Reliance Bank
GMA Rural Bank of Cavite
Imus Rural Bank
Masuerte Rural Bank of Bacoor
Rural Bank of Amadeo
Rural Bank of Magallanes
Rural Bank of Maragondon
Cebu
Aspac Rural Bank
Banco Maximo
Banco of East Asia
Banco Rural de Isla Cordova
Cardinal Rural Bank
Coastal Bank
Community Rural Bank of Catmon
Community Rural Bank of Medellin
First Agro Industrial Rural Bank
Frontier Rural Bank
Lapu Lapu Rural Bank
Mactan Rural Bank
Philippine Countryside Rural Bank
Pilipino Rural Bank
Plaza Rural Bank
Compostela Valley
Money Mall Rural Bank
Rural Bank of Montevista(Davao), Inc
Rural Bank of Compostela(Davao), Inc
Davao del Norte
Century Rural Bank
Davao del Sur
Community Rural Bank of Magsaysay
One Network Bank
Davao Oriental
Rural Bank of Baganga
Ifugao
Lagawe Highlands Rural Bank
Ilocos Norte
Banco Dingras
Ilocandia Community Bank
Cooperative Bank of Ilocos Norte San Nicolas
Cooperative Bank of Ilocos Norte-Laoag City
Cooperative Bank of Ilocos Norte-Batac City
Ilocos Sur
Cordillera Bank
Vigan Banco Rural Incorporada
Rural Bank of Tagudin, Inc
Rural Bank of Cabugao, Inc.
Rural Bank of Sta. Maria, Inc
Sadiri Rural Bank, Inc.
Rural Bank of Magsingal, Inc.
Ilocos Sur Cooperative Bank
Iloilo
Community Rural Bank of San Joaquin
Rural Bank of Marayo Banate Branch
Farmers Trader Rural Bank
First Midland Rural Bank
Janiuay Rural Bank
LifeBank
Progressive Rural Bank
Rural Bank of Alimodian
Rural Bank of Anilao
Rural Bank of Badiangan
Rural Bank of Oton
Isabela
Banco Agricola
Golden Rural Bank of the Philippines
Mallig Plains Rural Bank
Philippine Rural Banking Corporation
Rural Bank of Alicia
Rural Bank of Angadanan
Rural Bank of Benito Soliven
Providence Rural Bank
Laguna
Rural Bank of Bay,Inc.
Biñan Rural Bank
Card Rural Bank
De La O Rural Bank
Entrepreneur Rural Bank
First United Farmers Bank
Key Rural Bank
Ormon Bank
PlanBank Rural Bank of Canlubang Planters
Provident Rural Bank of Santa Cruz
Rural Bank of Alaminos
Rural Bank of Cabuyao, Inc.
Rural Bank of Lumban
Rural Bank of Mabitac, Inc.
Rural Bank of Nagcarlan
Rural Bank of Paete
Rural Bank of Pagsanjan
Rural Bank of Calauan
Rural Bank of Calamba
Malarayat Bank
Planbank A Rural Bank for Canlubang Planters
Lanao del Norte
1st Valley Bank
Lanao del Sur
Bagong Bangko Rural ng Malabang
Maranao Rural Bank
La Union
Bannawag Rural Bank
Community Rural Bank of San Gabriel
Cooperative Rural Bank of La Union
LUDB Bank
Networth Bank
Rang-ay Bank
Rural Bank of Agoo
Rural Bank of Bacnotan
Rural Bank of Bangar
Rural Bank of Bauang
Rural Bank of Caba
Rural Bank of Luna
Rural Bank of Naguilian
Rural Bank of Rosario
Rural Bank of San Juan
Rural Bank of Santol
Rural Bank of Sudipen
Summit Bank
Leyte
First Interstate Bank
Rural Bank of Dulag
Rural Bank of Kananga
Rural Bank of Hindang
Rural Bank of Hilongos
Rural Bank of Bato
Maguindanao
New Settlers Bank
Metro Manila
AMA Bank
Baclaran Rural Bank
Banco de Jesus Rural Bank
Banco San Juan
Bangko Pasig
BMS Rural Bank
Builders Rural Bank
Country Rural Bank of Taguig
Enterprise Capital Rural Bank
Filipino Savers Bank
Finman Rural Bank
First Country Rural Bank
First Macro Bank
Insular Rural Bank
Marikina Valley Rural Bank
Rodriguez Rural Bank
Rural Bank of Alabang
Rural Bank of Makati
Misamis Occidental
Community Rural Bank of Clarin
First Community Cooperative Bank of Misamis Occidental
Panguil Bay Rural Bank of Ozamiz
Rural Bank of Bonifacio
Misamis Oriental
Bangko Rural ng Tagoloan
Community Rural Bank of Naawan
Philippine Farmers Bank
Rural Bank of Talisayan
Negros Occidental
Rural Bank of Marayo
Community Rural Bank of Magallon
First Community Bank
First State Rural Bank
Nation Bank
New Rural Bank of Binalbagan
New Rural Bank of Victorias
Rural Bank of Bacolod City
Negros Oriental
Central Visayas Rural Bank
Dumaguete Rural Bank
Rural Bank of Amlan
Rural Bank of Ayungon
Rural Bank of Bacong
Rural Bank of Guihulngan
Rural Bank of Valencia
Rural Bank of Manjuyod
Rural Bank of Larena
Cooperative Rural Bank
Rural Bank of Basay
Rural Bank of Pamplona
Nueva Ecija
Aliaga Farmers Rural Bank
Banco Rural de General Tinio
Bangko Luzon Inc.
Cabanatuan City Rural Bank
Citizen's Rural Bank
Cooperative Bank of Nueva Ecija
Cuyapo Rural Bank
FARM Bank
GM Bank Inc.
Kabalikat Rural Bank
Masagana Rural Bank
Merchant Rural Bank of Talavera
Millennium Bank
New Rural Bank of Guimba
New Rural Bank of San Leonardo
Producers Rural Bank of San Jose City
Rural Bank of Laur
Rural Bank of Lupao
Rural Bank of Quezon
Rural Bank of Makati
Rural Bank of Sto. Domingo
Small & Medium Enterprise Bank
Towncall Rural Bank
Nueva Vizcaya
Agri Business Rural Bank
Rural Bank of Aritao
Cooperative Bank of Nueva Vizcaya
Oriental Mindoro
Oriental Tamaraw Rural Bank of Naujan
Rural Bank of Baco
Pampanga
Banco Nuestra Señora del Pilar
Bank of Florida
Crown Bank
Delta Civic Bank
Guagua Rural Bank
Guagua Savers Bank
Rural Bank of Angeles
Rural Bank of Apalit
Rural Bank of Bacolor
Unity Bank
Pangasinan
Banco Rural de San Antonio
Bangko Pangasinan
Bani Rural Bank
BHF Rural Bank
Corfarm Rural Bank of Umingan
CSF Rural Bank of Bayambang
Gulf Bank
Kaluyagan Rural Bank
Kaunlaran Rural Bank
Pangasinan Bank
People's Rural Bank of Binmaley
Rural Bank of Agno
Rural Bank of Alaminos
Rural Bank of Anda
Rural Bank of Dasol
Rural Bank of Bautista
Quezon
Grand-Agri Rural Bank
Mega Rural Bank
Polillo Island Rural Bank
Quezon Capital Rural Bank
Quezon Traders Rural Bank of Candelaria
Rural Bank of Alabat
Rural Bank of Atimonan
Rural Bank of Candelaria
Rural Bank of Dolores
Rural Bank of Sariaya
Rural Bank of Tagkawayan
Tiaong Rural Bank
Rural Bank of Lucban
Rural Bank of Mauban
Rizal
Binangonan Rural Bank
Eastern Rizal Rural Bank
Filidian Rural Bank
Growers Rural Bank
Rizal Rural Bank
Rural Bank of Angono
Rural Bank of Antipolo
Rural Bank of Cainta
Rural Bank of Montalban
Rural Bank of Pilillia
Rural Bank of San Mateo
Romblon
Community Rural Bank of Romblon
Sarangani
Rural Bank of DAR Beneficiaries Cooperative
Rural Bank of Alabel
South Cotabato
Peninsula Rural Bank
People's Rural Bank
Partner Rural Bank, Surallah, So. Cot.
Southern Leyte
Community Rural Bank of Maasin
Sultan Kudarat
Partner Rural Bank, Tacurong City



Surigao del Sur
Bangko Carrascal
Enterprise Bank
Cantilan Bank, Inc.
Tarlac
Bangko Santo Niño
Camiling Rural Bank
First Provincial Bank
Rural Bank of Tarlac
Rural Bank of Victoria
Rural Bank of Pura
Rural Bank of La Paz
Zambales
Community Rural Bank of San Felipe
Countryside Rural Bank of Palauig
Maharlika Rural Bank
Rural Bank of Cabangan
Zambales Rural Bank
Zambales Unity Bank of San Narciso
Zamboanga del Norte
Rural Bank of Pagadian City
Rural Bank of Salug Valley



Zamboanga del Norte
Community Rural Bank of Dapitan City
Rural Bank of Roxas
Katipunan Rural Bank
Rizal Rural Bank
Rural Bank of Dipolog City
Rural Bank of Siocon
Rural Bank of Liloy
Zamboanga Sibugay
Rural Bank of Kabasalan Inc.
Zamboanga City
Rural Bank of Siocon Inc.
Rural Bank of Zamboanga
Defunct or merged banks
Citytrust (acquired by Bank of the Philippine Island)
Far East Bank and Trust Company (acquired by Bank of the Philippine Islands)
Solid Bank and Trust Company (acquired by Metropolitan Bank and Trust Co)
G7 Bank
Insular Savings Bank (acquired by Citibank)
International Exchange Bank (merged with Union Bank of the Philippines)
Monte de Piedad Savings Bank (acquired by Keppel Bank)
Keppel Bank (acquired by GE Capital Finance)
Philippine Commercial International Bank (merged with Equitable Bank)
Prudential Bank (acquired by Bank of the Philippine Islands)
Urban Bank (forced to close then merged with Export and Industry Bank)
Equitable PCI Bank (merged with Banco de Oro)
American Express Bank (merged with Banco de Oro)
Equitable Savings Bank (merged with Banco de Oro)
Dao Heng Bank (acquired by Banco de Oro)
1st E Bank (acquired by Banco de Oro)

 

Currency: The peso (Filipino: piso) (sign: ₱; code: PHP) is the currency of the Philippines. It is subdivided into 100 centavos (Spanish) or sentimo (Filipino). Before 1967, the language used on the banknotes and coins was English and so "peso" was the name used. The language was then changed to Pilipino (the name of the Filipino language then) and so the currency as written on the banknotes and coins is piso.

The peso is usually denoted by the symbol "". This symbol was added to the Unicode standard in version 3.2 and is assigned U+20B1 (₱). The symbol can be accessed through some word processors by typing in "20b1" and then pressing the Alt and X buttons simultaneously. Other ways of writing the Philippine Peso sign are "PHP", "PhP", "P", or "P" (strike-through uppercase P), which is still the most common method as the Unicode Peso sign is not yet known to be supported by major and/or cross-platform fonts.

The coins are minted at the Security Plant Complex. Banknotes, passports, seaman's identification record books, land titles, checks, sweepstakes tickets, official ballots, official election returns, passbooks, postal money orders, revenue stamps, government bonds and other government documents are printed in the Security Plant Complex or the National Printing Office.