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The Bank of the Philippine Islands (Filipino: Bangko ng Kapuluang Pilipinas; Spanish: Banco de las Islas Filipinas, commonly known as BPI; PSE: BPI) is a universal bank in the Philippines. It is the oldest bank in both the Philippines and Southeast Asia.
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 of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
This list of the oldest banks includes financial institutions in continuous operation, operating with the same legal identity without interruption since their establishment until the present time. The world's oldest bank is Banca Monte dei Paschi di Siena , while the world's oldest merchant bank is Berenberg Bank .
China Banking Corporation (simplified Chinese: 中兴银行; traditional Chinese: 中興銀行; pinyin: Zhōngxīng Yínháng; Pe̍h-ōe-jī: Tiong-heng Gûn-hâng; PSE: CBC), commonly known as Chinabank, is a Filipino bank established in 1920. It was the first privately owned local commercial bank in the Philippines initially catering to the ...
The bank became the first universal bank in the Philippines in 1980 and was acquired by tycoon Lucio Tan after it was privatized by the government in 1989. After its merger with the Tan-owned Allied Bank on February 9, 2013, PNB became the fifth largest private domestic bank in the country.
Security Bank was established on June 18, 1951, as Security Bank and Trust Company (SBTC) in Manila, Philippines. At the time, SBTC was the first privately owned, Filipino-controlled bank of the post-World War II era. The bank's head office was first located in the Don Roman Santos Building on Plaza Goiti, moving to Escolta in 1954.
It is the third bank to be established in the Philippines, after Bank of the Philippine Islands and Philippine National Bank. The bank is one of the businesses that was owned by Chinese-Filipino businessman, Emilio Yap. [3] As of December 16, 2010, Philtrust Bank has a total market capitalization of P40.6 billion and share price of P70.00.
The El Banco Español Filipino de Isabel II (now Bank of the Philippine Islands) was the first bank opened in the Philippines in 1851. In 1873, additional ports were opened to foreign commerce, and by the late nineteenth century three crops—tobacco, abaca, and sugar—dominated Philippine exports.