Other banks in the philippines Flashcards
able to describe, understand and explain the products and services being offered by a commercial banks and thrift banks. able to describe, understand and explain the products and services being offered by a Rural Bank and operations of PDIC.
a term for banks that offer a variety of comprehensive financial services, including both commercial banking and investment banking services.
UNIVERSAL BANK
Serves a broader range of clients, including individuals, businesses, and large corporations
UNIVERSAL BANK
More complex due to the integration of multiple financial services under one roof.
UNIVERSAL BANK
Higher risk because of the diverse range of services and the potential for greater exposure to different financial markets.
UNIVERSAL BANK
universal bank proposed minimum capitalization?
head office:
3.00 billion
Give 3 example of philippine universal banks
BDO
LAND BANK OF THE PHILIPPINES
PHILIPPINE NATIONAL BANK
refers to a financial institution that accepts deposits and offers different banking and financial products.
COMMERCIAL BANK
make money by providing and earning interest from loans such as mortgages, auto loans, business loans, and personal loans.
COMMERCIAL BANK
Customer deposits provide banks with the capital to make these loans.
COMMERCIAL BANK
Give 3 example of philippine comercial banks
BDO
LAND BANK OF THE PHILIPPINES
PHILIPPINE NATIONAL BANK
focuses on traditional banking
COMMERCIAL BANK
Mainly serves individuals and businesses with their everyday banking needs.
COMMERCIAL BANK
Generally simpler and more focused on core banking activities.
COMMERCIAL BANK
Lower risk due to the limited scope of services.
COMMERCIAL BANK
type of financial institution that specializes in offering savings accounts and originating home mortgages for consumers.
THRIFT BANK
also called a Savings and Loan Association (S&L)
THRIFT BANK
is a type of financial institution that specializes in offering savings accounts and originating home mortgages for consumers.
THRIFT BANK
traditional savings accounts and home loan origination, these institutions also offer checking accounts, personal and car loans, and credit cards for consumers.
thrifts’
Are Some Types of Thrift Banks?
*savings banks,
*private development banks
*stock savings and loan associations.
operate similarly to traditional banks, but they are designed to serve consumers rather than businesses.
Thrift banks
primarily offer consumer accounts and loans,
Thrift banks
also offer financial services to businesses
commercial banks
generally smaller, local institutions and don’t have the reach and resources of large banks with branches nationwide.
Thrift banks
increasingly offering the same services as commercial banks, creating less of a distinction between the two
Thrift banks
three major types of depository institutions in the United States.
Commercial banks
thrift banks
credit unions
offer many of the same services as commercial banks, including debit and credit cards and savings and checking accounts.
Thrifts
Give 3 example of philippine thrift bank
BANK OF MAKATI
METROBANK
BANKO KABAYAN
AN ACT PROVIDING FOR THE REGULATION OF THE ORGANIZATION AND OPERATIONS OF THRIFT BANKS, AND FOR OTHER PURPOSES.
REPUBLIC ACT NO. 7906
is a private banking institution that serves rural areas that mobilizes financial resources and manages and provides loans to people who want to have a business but struggle in the capital, especially in the Rural Areas. from the highly-dense metropolitan cities in a country.
RURAL BANKS
traditional banks that serve farmers, fishermen, workers or communities away from the highly-dense metropolitan cities in a country.
RURAL BANKS
are physically well-positioned to respond to the existing financial gap given their geographic advantage and expansive network.
RURAL BANKS
enactment of Republic Act 720 happened to promote the development of Rural Banking because of World War II’s impact.
RURAL BANKS
PDIC
Philippine deposit insurance corporation
government instrumentality created in 1963 by Republic Act 3591, as amended, to insure the deposits of all banks
PHILIPPINE DEPOSIT INSURANCE CORPORATION
tasked to strengthen the mandatory deposit insurance coverage system to generate, preserve, maintain faith and confidence in the country’s banking system; and protect it from illegal schemes and machinations.
PDIC
exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability.
PDIC
government instrumentality created in 1963 by virtue of Republic Act 3591 to provide depositor protection and promote financial stability. It is an attached agency of the Bangko Sentral ng Pilipinas.
PDIC
core mandates are deposit insurance and liquidation of closed banks
PDIC
is a government instrumentality created in 1963 by Republic Act 3591, as amended, to insure the deposits of all banks.
PDIC
the Rural Bankers Association of the Philippines was established as a non-incorporated association of Rural Financial Institutions, and WHO LED IT?
Alfredo Montelibano Sr.
helped lay the groundwork for R.A. 7353, the Rural Banks Act of 1992, particularly on January 22, and the law protects the people in the rural area to regard the need for more fair distribution of opportunity, money, and wealth. Also, to make loans accessible in rural areas, farmers and small enterprises with little financial need prioritize loan approval.
Republic Act 720
aims to promote and expand the Rural Economy in the Rural Communities, especially the places that are hard to reach the Urban Area to do some financial services.
Rural Bank
The bank also helps to expand the agricultural sector in the Rural Areas to aid them in credit to start capital for their agriculture business. It also encourages the people from the rural areas to be entrepreneurs and create job opportunities in the rural areas.
Rural Bank
must be operated with a Certificate of Authority from the Monetary Board of the Central
Bank, and it is a for-profit organization that issues stock to shareholders to raise capital with no less than
five or more than fifteen incorporators.
Rural Bank
Qualification to apply as one of the stockholders in the Rural Bank:
- Filipino Citizenship
- Good Moral Character and Integrity
- Financial Capacity
- Good Credit Standing
- Not Convicted of any crime involving moral turpitude
FEATURES OF THE RURAL BANK
The bank’s president and at least a majority of key executive officers must be residents of the Rural.
- Key Executives Officers must not be related to one another.
- No individual or family group (those related within the 3rd degree of consanguinity or affinity)
shall own or control more than 35% of the voting shares upon the organization of the rural bank. - No officer or director of a rural bank can be an officer or director of another rural bank.
- A person connected in the government, whether by election or appointment, cannot serve as
officers of the rural bank
TOP 3 RURAL BANKS
- Bank of Makati
- One Network Bank, Inc.
- Card Bank Inc
a government instrumentality created in 1963 by Republic Act 3591, as amended, to insure the deposits of all banks.
PDIC
PHILIPPINE DEPOSIT INSURANCE CORPORATION
PDIC
exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability.
PDIC
is tasked to strengthen the mandatory deposit insurance coverage system to generate, preserve, maintain faith and confidence in the country’s banking system; and protect it from illegal schemes and machinations.
PDIC
exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability.
PDIC
a government instrumentality created in 1963 by virtue of Republic Act 3591 to provide depositor protection and promote financial stability. It is an attached agency of the Bangko Sentral ng Pilipinas.
PDIC
core mandates are deposit insurance and liquidation of closed banks
PDIC
prides itself as a professional, committed and responsive public service institution and a champion in governance. It is a socially responsible corporation which advocates to empower every Filipino through financial literacy.
PDIC
