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List of Banks in the 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 cooperative banks and twelve non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas.
Powers of a Commercial 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
Asia United Bank
Bank of Commerce
BDO Private Bank (subsidiary of Banco de Oro)
East West Bank
Export and Industry Bank
International Exchange Bank
Philippine Bank of Communications
Philippine Veterans Bank
Philtrust Bank
List of foreign banks with commercial banking operations
Branches:
ANZ Bank
Bangkok Bank
Bank of America
Bank of China
Bank of Tokyo-Mitsubishi
Citibank
Deutsche Bank
Industrial and Commercial Bank of China
JPMorgan Chase Co.
Korea Exchange Bank
Mizuho Corporate Bank
Subsidiaries
ABN AMRO
Chinatrust Bank
Maybank
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
Privately-owned
Allied Bank
Banco de Oro Universal Bank
Bank of the Philippine Islands
Chinabank
Equitable PCI Bank
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 foreign banks with universal banking operations
HSBC
ING Bank
Standard Chartered Bank
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