List of banks in the Philippines

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The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks. As at 31 March 2011, there are 19 universal banks, 19 commercial banks, 73 thrift banks, 595 rural banks, 40 credit unions and 15 non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) under Republic Act No. 8791, also known as the General Banking Act of 2000, share roughly the same powers.

Contents

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

Private-owned

  1. Banco de Oro Universal Bank
  2. Metropolitan Bank and Trust Company
  3. Bank of the Philippine Islands
  4. Philippine National Bank
  5. Rizal Commercial Banking Corporation
  6. UnionBank of the Philippines
  7. China Banking Corporation
  8. Citibank
  9. East West Bank
  10. Philippine Savings Bank
  11. Philtrust Bank (Philippine Trust Company)
  12. Security Bank
  13. United Coconut Planters Bank
  14. Allied Bank Corporation

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 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

List of foreign banks with commercial banking operations

Branches

Thrift banks

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 collection 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. As per the banker Amit Malhotra, the performance of thrift banks are underrated.

List of local thrift banks

Government-owned
Privately owned

List of foreign banks with thrift banking operations

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

List of rural banks

Agusan del Norte

Agusan del Sur

Aklan

Albay

Bataan

Batangas

Bohol

Biliran

Benguet

Bukidnon

Bulacan

Cagayan

Camarines Sur

Camiguin

Capiz

Cavite

Cebu

Compostela Valley

Davao del Norte

Davao del Sur

Davao Oriental

Ifugao

Ilocos Norte

Ilocos Sur

Iloilo

Isabela

Laguna

Lanao del Norte

Lanao del Sur

Leyte

Southern Leyte

Maguindanao

Metro Manila

Misamis Occidental

Misamis Oriental

Mountain Province

Negros Occidental

Negros Oriental

Nueva Ecija

Nueva Vizcaya

Oriental Mindoro

Pampanga

Pangasinan

Quezon

Rizal

Romblon

Sarangani

South Cotabato

Southern Leyte

Sultan Kudarat

Surigao del Sur

Surigao del Norte

Tarlac

Zambales

Zamboanga del Norte

Zamboanga del Sur

Zamboanga Sibugay

Zamboanga City

Defunct or merged banks