Top 10 Banks in the Philippines

Money is always indispensable for walking in the Jianghu, so today we will take stock of and get to know those banks in the Philippines ~ here we have summarized ten commonly used banks in the Philippines, let's have a look ~

01, Philippine Financial Bank (BDO)

The Philippine Finance Bank (BDO Unibank) is the largest bank in the Philippines by assets. It offers a variety of financial products and services, including deposits, loans, foreign exchange, trusts and investments, brokerage, credit cards, remittances and corporate cash management. Philippine Finance Bank was founded in 1968 as a savings bank, Acme Savings Bank. After being acquired by the Sy Group in 1976, it was renamed Banco de Oro Savings and Mortgage Bank, also known as BDO.

02, Capital Bank and Trust Company (Metro Bank)

The Metropolitan Bank and Trust Company is one of the leading financial institutions in the Philippines. It offers a wide range of banking products and services worldwide and its network includes more than 2300 ATMs, 950 local branches, 32 foreign branches and representative offices. The Capital Bank and Trust Company was founded in 1962 and opened its first branch a year later. In 1970, it opened its first international branch in Taipei. Three years later, it set up a representative office in Hong Kong. Capital Bank and Trust Company was the first Philippine bank to open a private bank in the United States and opened an office in Guam in 1975.

03, Bank of the Philippine Islands (BPI)

The Bank of the Philippine Islands, originally known as ElBancoEspa olFilipinode Isabel II, was founded in 1851 and is the oldest bank in the Philippines and Southeast Asia. It marked the beginning of the banking and finance industry in the Philippines. Bank of the Philippine Islands has more than 800 branches (local and Hong Kong and European),3000 ATMs and cash deposit machines, and provides a comprehensive range of banking products and services, including consumer banking and loans, insurance, foreign exchange, leasing, corporate and investment banking.

Land Bank of the Philippines

The Land Bank of the Philippines is considered to be the largest formal credit institution in rural areas of the Philippines. It is one of the largest commercial banks in the Philippines in terms of assets, loans and deposits. The Philippine Land Bank was established in 1963 to provide commercial banking for farmers and fishermen. It has a strong rural branch network consisting of 365 branches and more than 1600 ATMs.

National Bank of the Philippines (Philippine Bank)

The Philippine government established the Philippine National Bank in 1916, which was privatized in 2007. The National Bank of the Philippines is considered to be one of the largest private universal banks in the Philippines. It offers a full range of banking and financial products and works with the Philippine government, agencies, local government units, and government-owned holding companies.

Security Bank of the Philippines (Security Bank)

Security Bank was established in 1951 as the first private bank in the Philippines after World War II. It provides a full range of products and solutions for industries such as retail, commerce and finance. In 1995, the Philippine Security Bank was listed on the Philippine Stock Exchange and is one of the most stable banks in the Philippines today. This is what we usually say about Principal Bank.

07. Bank of China (China Bank)

Bank of China Corporation (China Banking Corporation) was established in 1920 as the first privately owned local commercial bank in the Philippines. Now, Bank of China companies provide products and services such as deposit, investment, trust, remittance and cash management. In 2012, Bank of China Corporation was named one of the best governed companies in the Philippines by the Philippine Stock Exchange.

Development Bank of the Philippines (Development Bank)

Development Bank of the Philippines is the second largest state-owned bank in the Philippines and one of the largest government-controlled companies. The Philippine Development Bank provides financing services in four main areas: infrastructure and logistics, small and medium enterprises, social services and the environment.

09 Union Bank of the Philippines

Union Bank of the Philippines is the first bank in the Philippines to launch online banking. It also launched the Philippines' first electronic savings account, the EON Web account, which also marked the beginning of e-checking. The Union Bank of the Philippines online service is transacted and accessed through a variety of channels, including a nationwide network of branches, on-site and off-site ATMs, online banking and call centers. It also provides corporate cash management and business-to-business banking services to local and multinational companies in the Philippines.

10. Rizal Bank of the Philippines

Founded in 1960, Rizal Commercial Banking Corporation is a Philippine development bank licensed by the Central Bank of the Philippines for commercial and investment banking. It provides various services to more than 650 million customers through 448 branches and more than 1100 ATMs nationwide. It also manages remittance offices and cooperation offices in 24 countries. From 2010 to 2014, the Bank of the Philippines received more than 70 awards from Asiamoney, including the best domestic private bank in the Philippines for three consecutive years.