Bank Classification Flashcards
(19 cards)
CLASSIFICATION OF BANKS:
- Government Banks
- Universal Banks
- Commercial Banks
- Thrift Banks
- Rural Banks
- Cooperative Banks
PHILIPPINE BANKING SYSTEM is composed of:
Universal and Commercial banks,
Thrift banks
Rural and Cooperative banks
Its main purpose is to help implement the land reform in the
Philippines known as the COMPREHENSIVE AGRARIAN
REFORM PROGRAM (CARP).
Land Bank of the Philippines
It is established as a corporate and government instrumentality.
Land Bank of the Philippines
It is the government counter-part of the private development banks. It aims to develop, expand, construct, and rehabilitate our agricultural industry.
Development Bank of the Philippines
Primarily established to promote and accelerate the socio-economic development of the autonomous region of Mindanao.
Amanah Islamic Investment Bank of the Philippines
In addition to the function of an ordinary commercial bank, they are also authorized to engage in underwriting and other functions of investment houses, and to invest in equities of non-allied undertakings.
Universal banks
They offer the widest variety of banking services among financial
institutions.
Commercial banks
Represent the largest single group, resource-wise, of financial institutions in the country.
Commercial banks
Thrift Banks is composed of the following:
- savings and mortgage banks,
- private development banks,
- stock savings and loan associations,
- microfinance thrift banks.
They also provide short-term working capital and medium- and long-term financing to businesses engaged in agriculture, services, industry and housing, and diversified financial and allied services, and to their chosen markets and constituencies, especially small- and medium-enterprises and individuals.
Thrift banks
are engaged in accumulating savings of depositors and investing them.
Thrift banks
are differentiated from each other by ownership.
Rural banks and cooperative banks
help farmers through the stages of
production, from buying seedlings to marketing of their produce.
Rural banks and cooperative banks
are usually a family owned business.
Rural Banks
are organized to promote and expand the rural economy in an orderly and effective manner by providing farmers and small businessmen with means of
facilitating and improving their productive facilities.
Rural Banks
Land bank main purpose is to help implement the land reform in the
Philippines known as the
COMPREHENSIVE AGRARIAN
REFORM PROGRAM (CARP)
are privately owned and
managed,
rural banks
are organized/owned by cooperatives or federation of cooperatives.
cooperative banks
