Banks in the Philippines

Flashcards about Banks in the Philippines

PNB

Philippine National Bank

CIMB

CIMB Bank

BDO

BDO Unibank

Maya

Maya Bank

BPI

Bank of the Philippine Islands

RBank

Robinsons Bank

UBP

Union Bank of the Philippines

RCBC

Rizal Commercial Banking Corporation

GCash

Transforms the mobile phone into a virtual wallet for secure, fast, and convenient money transfer

Lyka Gems

In-app currency of Lyka that could be redeemed in real life.

Financial System

Channels funds from net savers to net spenders

Financial Claims

Money and rights to receive money under specific circumstances, evidenced by financial instruments

Debts

Financial obligations to be paid

Equities

Claims of ownership like shares of stock

Financial Institutions

Private or government organizations dealing with claims or incomes derived from dealing in/or performing services regarding claims

Financial Intermediaries

Institutions that deal with the creation and issuance of claims against themselves and use the proceeds to acquire and hold claims against others, acting as middlemen between suppliers and users of credit

Bangko Sentral ng Pilipinas (BSP)

Promotes financial stability and works with the National Government

Financial Supervision Sector

Responsible for the regulation of banks, supervision of financial technology, and payment systems

Financial Stability Coordination Council (FSCC)

Improves the stability of the country’s financial system by mitigating systemic risks through timely macroprudential policy interventions

Financial Institutions

Banks, NBFIs, Universal Banks, Commercial Banks, Thrift Banks, Rural Banks, Cooperative Banks, Islamic Banks, Digital Banks

Legal Mandate of BSP

Provides policy directions in the areas of money, banking, and credit and has supervision over the operations of banks

Universal Banks

Combines wholesale banking, retail banking, and investment banking services

Wholesale banking

Borrowing and lending money on a very large scale.

Retail Banking

Services members of the public and small- and medium-sized businesses

Investment Banking

Main activities are asset management, M&A, raising capital, securities trading, and securities underwriting

Bank of Commerce, Bank of the Philippine Islands, BDO Unibank, China Banking Corporation, Development Bank of the Philippines, East West Banking Corporation, Land Bank of the Philippines, Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine National Bank, Philippine Trust Company, Rizal Commercial Banking Corporation, Security Bank Corporation, Standard Chartered Bank, Union Bank of the Philippines

Universal Banks of the Philippines

Commercial Banks

Financial institution that accepts deposits, offers checking account services, makes loans, and offers financial products to individuals and small businesses

Thrift Banks

Provides credit by granting loans to Small-and-Medium Enterprises and accepts savings and time deposits from the public

Original Classification of Thrift Banks

Savings and Mortgage Banks, Private Development banks, Stock Savings and Loan Association

Rural Banks

Aimed to provide credit facilities and financial services to the countryside. Originally conceived as a unit bank.

Cooperative Banks

Organized, owned, and controlled by cooperative organizations to provide financial and credit services to cooperatives and their members

Digital Banks

Offers financial products and services that are processed end-to-end through a digital platform and/or electronic channels with no physical branch

Union Digital Bank (UDB), GoTyme (GTYME), Tonik Digital Bank Inc. (TONDB), Maya Bank Inc. (Maya), Overseas Filipino Bank Inc. (OFBank), UNObank Inc. (UBI)

Digital Banks in the Philippines