DOCSLIB.ORG

Economic Structure

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Economic Structure ECONOMIC STRUCTURE Type of Business Number of Establishment Resorts 11 Banks 39 Restaurant & Eatery 111 Hotels/ Inns 46 Gasoline Station 22 Rice Mill 54 Medium & Small 2,605 Establishments Tourist Arrivals for 2015 73,821 Tourist Arrivals for 2016 81,874 List of Banks with ATM & Offsite ATM NO. NAME OF BANKS LOCATION With ATM ATM Offsi 1 Agri Business Rural Bank Camilmil 1 2 Asia United Bank San Vicente 1 3 Banco Alabang (A Rural Bank) San Vicente West 4 Banco de Mindoro ( A Rural Bank) Ibaba East 5 Banco de Oro Unibank Inc. San Vicente East 2 6 Banco de Oro Unibank Inc. Camilmil 2 7 Bank of Commerce San Vicente 1 8 Bank of Makati Lumangbayan 9 Bank of the Phil. Islands San Vicente East 2 10 Bank of the Phil. Islands Camilmil 3 11 Card Bank, Inc. Comunal 12 Card Bank, Inc. Sta. Isabel 13 Card Bank, Inc. Bucayao 14 Card Bank, Inc. Biga 15 Card Bank, Inc. Comunal 16 Card Rural Bank, Inc. Ilaya 1 17 China Banking Corp. San Vicente South 1 18 City Savings Bank, Inc. Camilmil 1 19 Country Bank San Vicente North 20 Development Bank of the Phils. Sto. Nino 1 1 21 East West Banking Corp San Vicente South 1 22 First Consolidated Bank San Vicente South 1 23 Land Bank of the Phils. Sto. Nino 3 4 24 Maybank Philippines, Inc San Vicente South 1 25 Metrobank San Vicente 2 2 26 Metrobank Lalud 1 27 Microfinance Savings Bank Ibaba East 28 Robinson's Bank Corp Lumangbayan 1 29 Philippine Business Bank San Vicente East 1 30 Philippine National Bank Camilmil 1 31 PNB Savings Bank San Vicente West 1 32 RCBC Savings Bank Camilmil 1 1 33 Rural Bank of Baco San Vicente 34 Rural Bank of Pinamalayan, Inc. Biga 35 Rural Bank of Pinamalayan San Vicente East 36 Rural Bank of Pola San Vicente North 37 Security Bank Camilmil 1 38 United Coconut Planters Bank San Vicente North 1 39 Max Bank Camilmil 1 40 Philippine Savings Bank Camilmil Total 33 8 Inventory of Tourist Spots/Attractions Tourist Location Area (sq.m) Facilities NATURAL Description/Place of Interest 1. Calapan Bulusan 26,457 sq. Zoo animals, recreational Recreational and m areas, picnic and camping Zoological Park grounds 2.Bulusan Caves Bulusan Home of Bats,various forms of Stalactites & Stalagmites 3. Caluangan Lake Baruyan 1,280,000 Home of the famous baruy sq.m (halaan) and various kinds of fishes 4. Bacochico I Ibaba East 406,606 sq White beaches,corals & m various rock formations 5.Bacochico II Ibaba East 142,101 sq White beaches,corals & m various rock formations 6.Bacochico III Ibaba East 33,672 sq White beaches and corals 7.Harka Piloto Islet Suqui 4m7,970 sq White beaches and corals 8.Silonay Islet Suqui 6m0,000 sq White beaches and corals 9. Masipit Creek Masipit Various type of mangroves, different species of birds and reptiles 10. Silonay, Silonay, Thick mangroves abound Navotas, Maidlang Navotas, along the shoreline 11. Pachoca-Balite Pachoca and 2-km length Semi-black sand shorelines, Beach Balite cottages and beach resorts are available to tourists 12. Lazareto-Suqui- Lazareto, 3- km Semi-black sand shorelines, Parang Beach Suqui,Parang length cottages and beach resorts are available to tourists HISTORICAL & Description/Place of RELIGIOUS SITES Interest 1. Casa Real Ruins Ibaba East Former seat of Prov’l Spanish Gov’t 2. Calapan Old Calero Site where the first captive Cemetery Insurrectos in Calapan were (Bishop Finneman executed by the Spaniards 3.San Vicente San Vicente Site of the first battle Bridge North between the Spaniards and 4. Calapan Sto. Ilaya Founded 300 years ago, it is Niño Cathedral the center of religious activities in Calapan City 5. Mindoro HS San Vicente 50,000 sq. Became the Headquarters of (OMHS) East m Japanese Army in Or.Mindoro during the 6.St. Augustine Suqui Seminary with museum Seminary 7.Bishop Palace San Rafael Residence of Bishop & Botanical Gardens 8.St. Rafael St. Rafael Place for Retreat and 9M.oBneansetdeircytine St. Rafael PSelamceinfaorrsRetreat and 1N0u.nMs angyan Calero MSeamnignyaarns Heritage Center 1M1i.sCsaiolanpan City Guinobatan The Museum houses relics Musem from the American and Japanese period and even from the past leaders of the 12. New City Hall Guinobatan 5 has. The seat of the City Government of Calapan 13. Provincial Camilmil Artifacts from the Pre- Museum Spanish Era 14. Calapan Plaza Ibaba East Relatively modified structure adjacent the Old City Hall that serves as park AGRO-TOURISM Location Area Description/Place of SITES Interest 1. Parang Coconut Parang Various types of bananas and Banana and coconuts are planted. Plantations Activities: Lupakan, Coconut Harvesting,Picnics. Harvesting season is all year 2. Masipit Masipit Bangus, shrimps and crabs Fishponds are cultured at Masipit Fishponds. Harvesting season is all-year round 3. Sapul Orchard Sapul Main attractions are rambutan & lanzones. September and October are 4. Biga Ricefields Biga Famous varieties of palay are planted, activity for tourists, planting and harvesting, picnics and 5. Papaya Personas PlantCaUtiLoTnURAL Location Area Description/Place of ATTRACTIONS Interest 1. Calapan City Calapan City Held from Dec 16-Jan 1 of Fiesta every year. Celebrated in honor of the Patron Sto. Niño. Considered the 2. Mayuhan and Calapan City CloenlegbesrattceedleibnreavteedryFiesta in Santacruzan barangay of the city from May 1-31 of the year. Highlights the Flower offering and procession of 3. Calapan City Calapan City Celebrated every 21st of Foundation Day March. Highlights: KALAP FESTIVAL, Street Dancing Contest, Mardigras , Search for Miss Calapan & Employees Day for CGC 4. Oriental Calapan City Held every Nov 9-15 of the Mindoro year. Hosted by Or. Mindoro Foundation Day Prov’l Gov’t. Highlights: Street Dancing Contest, Miss Or. Mdo. Pageant,.
Load more

Recommended publications
  • Frequently Asked Questions on What Is Pesonet?
    Frequently Asked Questions on What is PESONet? PESONet is a new electronic fund transfer service that enables customers of participating banks, e- money issuers or mobile money operators to transfer funds in Philippine Peso currency to another customer of other participating banks, e-money issuers or mobile money operators in the Philippines. It is more inclusive platform for Electronic Fund Transfers which will make G2B(Government-to- Business) and G2C(Government-to-Consumer) payments more practical, convenient, fast, and secure. What is the purpose of PESONet? Through PESONet, businesses, government, and individuals will be able to conveniently pay or transfer funds from their account to one or multiple recipient accounts in other financial institutions. PESONet is the perfect alternative to the still widely used paper-based check system. What are the features of PESONet? What are the uses of PESONet? How does PESONet work? Customers instruct their financial institution to send credit instructions to other financial institutions via online banking, mobile banking or over-the-counter transaction. They need to provide the payees’ financial institution, account number, and amount. The credit instruction is transmitted by the financial institution to the clearing switch operator, which currently is the Philippine Clearing House Corporation (PCHC). The funds are settled in the respective financial institutions demand deposit accounts held in Bangko Sentral ng Pilipinas (BSP) through BSP’s Philippine Payments and Settlement System (PhilPaSS). Upon settlement, the beneficiary’s or payee’s financial institution will credit the payee's account. How long does it take to transfer funds via PESONet? The availability of funds to the receiving account shall depend on the facility used to carry out your transaction.
    [Show full text]
  • Remittance Bank List of Philippines Bank Name
    Remittance Bank List of Philippines Bank Name AL AMANAH ISLAMIC INVESTMENT BANK ALLBANK ANZ BANK ASIA UNITED BANK BANK OF AMERICA BANK OF CHINA BOF, INC (A Rural Bank) - (BANK OF Florida) BANGKOK BANK PUBLIC CO LTD BDO - BANCO DE ORO BDO NETWORK BANK BDO PRIVATE BANK BOC - BANK OF COMMERCE BPI - BANK OF THE PHILIPPINE ISLANDS BPI FAMILY BANK BPI DIRECT BANKO CAMALIG BANK, INC (A Rural Bank) CEBUANA LHUILLIER RURAL BANK INC CHINA BANK CHINA BANK SAVINGS CTBC BANK ( FORMER CHINA TRUST) CIMB BANK PHILIPPINES, INC. CITIBANK DBP - DEVELOPMENT BANK OF THE PHILIPPINES DEUTSCHE BANK DUNGGANON BANK EAST WEST BANK EASTWEST RURAL BANK EQUICOM SAVINGS BANK INC FIRST CONSOLIDATED BANK HSBC - HONGKONG AND SHANGHAI BANKING CORPORATION HSBC SAVINGS BANK INDUSTRIAL BANK OF KOREA ING BANK N.V. ISLA BANK INC. KEB HANA (Korea Exchange Bank) JP MORGAN CHASE BANK LBP - LAND BANK OF THE PHILIPPINES MALAYAN BANK SAVINGS AND MORTGAGE BANK INC (MALAYAN SVGS) MAYBANK PHILIPPINES INC (PNB Republic) MEGA INTL COMML BANK CO LTD (ICBC) MIZUHO BANK LTD (FUJI BANK) MUFG BANK LTD (BANK OF TOKYO) PARTNER RURAL BANK (COTABATO) INC PBCOM - PHILIPPINE BANK OF COMMUNICATIONS PHIL BUSINESS BANK PHILIPPINE VETERANS BANK PHILTRUST CO (Philtrust Bank) PNB - PHILIPPINE NATIONAL BANK (Allied Bank) PRODUCERS SAVINGS BANK CORP PSBANK - PHILIPPINE SAVINGS BANK QUEZON CAPITAL RURAL BANK INC RCBC - RIZAL COMMERCIAL BANKING CORPORATION ROBINSONS BANK CORPORATION RURAL BANK OF GUINOBATAN INC (RBGI) SECURITY BANK CORPORATION SHINHAN BANK STERLING BANK OF ASIA SUMITOMO MITSUI BANKING CORP SUN SAVINGS BANK INC THE STANDARD CHARTERED BANK UCPB - UNITED COCONUT PLANTERS BANK UCPB SAVINGS BANK UNION BANK OF THE PHILIPPINES (City Savings Bank) UNITED OVERSEAS BANK PHILIPPINES WEALTH DEVELOPMENT BANK YUANTA SAVINGS BANK PHILS INC (Tongyang) .
    [Show full text]
  • Annual Report 2017
    ANNUAL REPORT 2017 METRO CEBU PUBLIC SAVINGS BANK Email: [email protected] Address: Sia Bldg., N. Bacalso Ave., Brgy. Duljo Fatima, Cebu City Tel No.: 231-4043 / 231-3923 2 CONTENTS CORPORATE POLICY______________________________________________________ 3 Vision __________________________________________________________________ 3 Mission _________________________________________________________________ 3 Company Profile __________________________________________________________ 4 A MESSAGE FROM THE PRESIDENT _________________________________________ 5 Financial Highlights 2017 ___________________________________________________ 7 Financial Summary ______________________________________________________ 10 RISK MANAGEMENT FRAMEWORK __________________________________________11 Overall Risk Management Culture and Philosophy ______________________________ 11 AML Governance and Culture ______________________________________________ 12 CORPORATE GOVERNANCE _______________________________________________ 13 Governance Structure ____________________________________________________ 13 Chairman of the Board of Directors __________________________________________ 14 Board Composition_______________________________________________________ 15 THE BOARD OF DIRECTORS _______________________________________________ 16 Board Committees, Membership and Functions __________________________________ 21 Directors’ Attendance at Board and Committee Meetings __________________________ 27 List of Executive Officers ____________________________________________________
    [Show full text]
  • 2020 Annual Report
    Chairman’s Message While 2020 will be remembered as the year of COVID-19, it was also year that allowed us at FCB to reflect. The year 2020 showed us PURPOSE. The importance of our role as bankers to ensure the functionality and strength of our communities was made exceedingly clear to us. Our depositors need continued access to their deposits, and our borrowers need access to liquidity for their needs, especially during times of calamity. We at FCB are proud to have provided steadfast service in all our areas. The year 2020 proved our RESILIENCE. We have had to be mentally and emotionally strong to face the unexpected challenges this year, as individuals, and as an organization. Our company was committed to taking care of our people, and our people remained committed to our mission to provide affordable banking services to our clients. The year 2020 is also a year that showed us the importance of ADAPTABILITY. COVID-19 has reminded us that we operate in a Darwinian landscape. It is not the biggest or largest that will survive, but the fastest to adapt. We have adjusted as restrictions and rules kept changing. We have maintained a proactive mindset, while providing tools to support this mindset and to adjust to the New Normal. Offering the online application process for qualified borrowers, offering various outlets for releases, introducing new products, and identifying new markets have all been part of adapting. Maintaining support staff in regional clusters in order to ensure operational continuity has also been essential. We are also proud to announce that our mobile banking app, FCBPay, which is not only responsive to the needs of this time but also an important step towards the future, was officially launched in February 2021.
    [Show full text]
  • Annual Report 2008
    ANNUAL STOCKHOLDERS’ MEETING Message from the Chairman April 21, 2018 The outlook for the global economy is cautiously optimistic. The largest economies are doing well; however, the interest rate is too low in many countries, leaving central banks without much leeway to cut interest rates in case of a need to stimulate their economies. Central banks have stopped their quantitative easing programs and are now biased towards increasing rates or utilizing tighter economic policies. The most serious threat to the global economy is a trade war. The US economy remains strong, with the dollar increasing in value and unemployment returning to pre-crisis levels. The Federal Reserve raised interest rates by 1/4 % in March 2018, and is expected to increase rates two more times this year. The increase in US rates places pressure on emerging markets, as hot money flows back towards developed economies. In line with increasing rates and rising inflation, there is the possibility of a steeper market correction some time in the next few years, as valuations appear too high compared to the underlying company fundamentals. We can expect that international trade will also evolve, as President Trump applies his brute force tactics to advance his America First policy. China continues with its shift from a manufacturing-driven economy to consumption-led, in order to boost growth. Debt levels in China, as well as non- performing loan levels, remain a concern—but President Xi is aggressively managing his deleveraging campaign, having imposed over 2.9 billion yuan in penalties and confiscations of funds on over 1,000 financial institutions.
    [Show full text]
  • FIRST BATCH – 19 June ‐ 15 July 2017
    FIRST BATCH – 19 June ‐ 15 July 2017 1 ROBINSONS BANK CORPORATION 97 BDO LEASING & FINANCE INC 2 CTBC BANK (PHILIPPINES) CORP 98 LBP LEASING CORPORATION 3 JP MORGAN CHASE BANK NATIONAL ASSN. 99 ALLIED LEASING & FINANCE CORP 4 KEB HANA BANK ‐ MANILA BRANCH 100 UCPB LEASING AND FINANCE CORP 5 MAYBANK PHILIPPINES INCORPORATED 101 BPI CENTURY TOKYO LEASE & FIN CORP 6 MEGA INT'L COMM'L BANK CO LTD 102 DBP LEASING CORPORATION 7 UNITED OVERSEAS BANK LIMITED MANILA 103 CITIFINANCIAL CORPORATION 8 EQUICOM SAVINGS BANK INC 104 CITICORP FINL SERV & INS BROKE PHIL 9 WORLD PARTNERS BANK (A THRIFT BANK) 105 EAST WEST LEASING AND FINANCE CORP 10 BANK ONE SAVINGS AND TRUST CORP. 106 PNB HOLDINGS CORPORATION 11 CENTURY SAVINGS BANK CORPORATION 107 DBP DAIWA SECURITIES CAPITAL MARKET 12 SUN SAVINGS BANK INC 108 FIRST METRO SEC BROKERAGE CORP 13 STERLING BANK OF ASIA INC (A SB) 109 BDO NOMURA SECURITIES INC 14 PNB SAVINGS BANK 110 RCBC SECURITIES INC 15 PACIFIC ACE SAVINGS BANK INC 111 AB CAPITAL SECURITIES INC 16 ISLA BANK(A THRIFT BANK) INC 112 BDO SECURITIES CORP. 17 MALAYAN BANK SAVINGS AND MORT BANK 113 S B EQUITIES 18 HSBC SAVINGS BANK(PHILS) INC 114 BPI SECURITIES CORP 19 YUANTA SAVINGS BANK PHILIPPINES INC 115 UNICAPITAL SECURITIES INC 20 PHIL POSTAL SAVINGS BANK INC 116 UCPB SECURITIES INC 21 PHIL SAVINGS BANK 117 PNB SECURITIES INC 22 RCBC SAVINGS BANK INC 118 BANCASIA CAPITAL CORPORATION 23 UCPB SAVINGS BANK 119 CHINA BANK CAPITAL CORPORATION 24 PRODUCERS SAVINGS BANK CORPORATION 120 ARMED FORCES AND POLICE SLAI 25 CARD SME BANK INC A THRIFT BANK 121 AIR MATERIEL WING SLA INC 26 PHIL RESOURCES SB CORP (PR SB) 122 ARSENAL SLA, INC.
    [Show full text]
  • PNB Mobile Banking App Faqs for Interbank Funds Transfer Via Pesonet
    PNB Mobile Banking App FAQs for Interbank Funds Transfer via PESONet 1. What is PESONet? PESONet is an electronic fund transfer service (via batch processing) that allows depositors to perform non-time sensitive fund transfers to any participating bank (“interbank”) within the Philippines. It is available to retail customers with Peso- denominated savings and current accounts who are enrolled in the PNB Mobile Banking App. PESONet provides a secure, faster and more convenient way to send funds or to settle payments in lieu of cash or checks. TRANSFER RECEIVING FUNDS FUNDS USING BANK CREDITED TO THE PNB MOBILE BENEFICIARY BANKING APP ACCOUNT 2. How do I perform a PESONet transaction using the PNB Mobile Banking App? You will receive notifications in your registered email and mobile numbers when PNB has successfully received your transaction for transmittal to the receiving bank. 3. Is there a cut-off for PESONet Transactions? PESONet is available during banking days, subject to a prescribed cut-off of 2PM for same day transmittal to the receiving bank. Transactions received after cut-off, on holidays or weekends will be processed for transmission to the receiving bank on the next banking day. 4. How much can I transact for PESONet via the PNB Mobile Banking App? You may transfer up to P100,000 per transaction. You can make multiple transactions up to the daily transfer limit of Php600,000 per account. 5. Are there any applicable fees for using PESONet via the PNB Mobile Banking App? A nominal fee of P30 will be charged per transaction. The fee shall be automatically debited from your nominated source account after successful OTP confirmation.
    [Show full text]
  • List of Supervised Financial Institutions with FCDU/EFCDU
    BANKS WITH FCDU/EFCDU AUTHORITY as of 31 May 2021 I. UNIVERSAL AND COMMERCIAL BANKS A. EFCDU 1 Al-Amanah Islamic Investment Bank of the Philippines 2 Asia United Bank Corporation 3 Australia and New Zealand Banking Group Limited 4 Bangkok Bank Public Co. Ltd. 5 Bank of America, N.A. 6 Bank of China Limited-Manila Branch 7 Bank of Commerce 8 Bank of the Philippine Islands 9 BDO Unibank, Inc. 10 Cathay United Bank Co., LTD. - Manila Branch 11 Chang Hwa Commercial Bank, Ltd. - Manila Branch 12 China Banking Corporation 13 CIMB Bank Philippines Inc. 14 Citibank, N.A. 15 CTBC Bank (Philippines) Corporation 16 Deutsche Bank AG 17 Development Bank of the Philippines 18 East West Banking Corporation 19 First Commercial Bank, Ltd., Manila Branch 20 Hua Nan Commercial Bank, Ltd. - Manila Branch 21 Industrial and Commercial Bank of China Limited - Manila Branch 22 Industrial Bank of Korea Manila Branch 23 ING Bank N.V. 24 JP Morgan Chase Bank, N.A. 25 KEB Hana Bank - Manila Branch 26 Land Bank of the Philippines 27 Maybank Philippines, Incorporated 28 Mega International Commercial Bank Co., Ltd. 29 Metropolitan Bank and Trust Company 30 Mizuho Bank, Ltd. - Manila Branch 31 MUFG Bank, Ltd. 32 Philippine Bank of Communications 33 Philippine National Bank 34 Philippine Veterans Bank 35 Rizal Commercial Banking Corporation 36 Security Bank Corporation 37 Shinhan Bank - Manila Branch 38 Standard Chartered Bank 39 Sumitomo Mitsui Banking Corporation-Manila Branch 40 The Hongkong & Shanghai Banking Corporation 41 Union Bank of the Philippines 42 United Coconut Planters Bank 43 United Overseas Bank Limited, Manila Branch B.
    [Show full text]
  • 28118-01-Landbank-Harvest-Of
    HARVEST OF HEROES All rights reserved. No part of this publication may be reproduced or used in any form - graphic, electronic or mechanical - including photocopying, recording, taping or by information storage and retrieval system, without written permission from the publisher. Published by: Land Bank of the Philippines 1598 M.H. Del Pilar cor. Dr. Quintos Sts. Malate, Manila Philippines Design by: OP Communications, Inc. Authored by: Jose Dalisay Contributing writers: Daniel Pineda Glenn Diaz Homer Novicio Om Narayan Velasco Photographs by: Edwin Tuyay Doroteo Palines Michael Mariano HARVEST of HEROES by Jose Dalisay CONTENTS 6 Message from the President of the Philippines 8 Foreword From Countryside to Countrywide: The LANDBANK Story 12 Some Called It Hope A Creation Fable 14 The Bounty of Earth and Water Farmers and Fishers 52 Small Steps to Big Dreams Micro, Small and Medium Enterprises 98 Coming Home to New Hopes Overseas Filipinos 112 All Together Now Cooperatives 174 Fertilizing the Grassroots Rural Banks 196 Partners in Wealth Creation Corporations 214 Hands Across Borders Multilateral/Bilateral Partners 220 LANDBANK Vision/Mission MESSAGE A nation’s progress is borne of interwoven tales of industry, determination, and solidarity. It relates to a broader platform the triumphs of a people whose individual successes created tides of empowerment, cleared the path for development, and collectively attained milestones of greater magnitude. The Harvest of Heroes introduces us to some of these personages and provides us with narratives to emulate as we propel the growth of our regions. May this compilation be a source of inspiration for our citizens, as we maximize the opportunities afforded to us by our resurgence.
    [Show full text]
  • Annual Report 2008
    Annual Stockholders’ Meeting Chairman’s Message April 18, 2015 The world economy continues to grow at 3 % for 2015 but remains fragile with Europe, China, Japan and South America needing government stimulus programs to boost their economies. The US is having a strong growth, after years of heavy government support, and is expected to increase interest rates by the 2nd half of 2015. Russia is being isolated due to the Ukraine conflict and the weakening of commodity prices is making the situation even worse. The good news is that Asia continues to perform well. The Philippines remains one of the best performing economies in the world. Economic growth for 2015 is expected at 6%. The reduction of fuel costs further improves the Philippine economy, minimizes the impact of inflation, and provides flexibility for the BSP on monetary policies. The Philippines does have problems which are well known and will take years, if not a decade, to solve. The most important issue is poverty and implementing “inclusive” growth. Another major challenge is the impact of natural disasters, such as typhoons, floods, and earthquakes, and the mitigating measures. The Philippines has the opportunity to be a developed country in 20 years if the proper infrastructure and legislation are implemented thereby resulting in a sustainable and inclusive growth. ASEAN economic integration will have a positive impact on the overall economy of the Philippines. However, there are sectors which will be adversely affected, such as manufacturing and agriculture, and we hope the Philippine government will provide assistance to these sectors. Philippine banking is expected to continue to perform well but needs to face the challenges of competing with international banks and local competitors, both formal and informal.
    [Show full text]
  • Annual Report 2008
    ANNUAL STOCKHOLDERS’ MEETING Chairman’s Message April 15, 2017 Globally, the year 2016 was quite a rollercoaster. We saw disruptions to the international political status quo—starting with the Brexit vote and ending with Donald Trump’s victory as US president. These were the results of protest votes, with people blaming problems on immigration and globalization. The new order is slanted towards economic nationalism: re-focusing policies domestically. The global landscape is a complicated one because of such divergent interests. Japan and Europe remain fragile, with negative policy rates. The US, despite its high debt level, continues to improve slowly, with the strengthening dollar, rising interest rates, and low unemployment levels. China is also struggling with burgeoning debt levels, as well as maintaining its growth as it gradually attempts to shift as an export-dependent manufacturer to a consumption-driven economy. As rates increase, funds from emerging markets will continue to flow back to the developed countries. Locally, Filipinos also clamored for change, as the country voted for a non- traditional politician as the new president. President Duterte has begun acting on many campaign promises, among them to cleanse the Philippines of illegal drugs, to reduce government corruption, and to spread the economic wealth beyond Manila. The Philippines continues to be one of the fastest growing economies, but we will need to be wary of the potential impacts of other countries enacting protectionist trade policies. Competition in Philippine banking remains very stiff. Our major competitors persist, and are heavily marketing rates and services against our own. They, along with the universal and commercial banks, also continue to open branches in our service areas.
    [Show full text]
  • General List of Banks of the Philippines
    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 Al-Amanah Islamic Investment Bank of the Philippines Development Bank of the Philippines Land Bank of the Philippines 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 Asia United Bank Bank of Commerce BDO Private Bank (subsidiary of Banco de Oro) Philippine Bank of Communications Philippine Veterans Bank Robinsons Bank Corporation List of foreign banks with commercial banking operations Branches Australia and New Zealand Banking Group Bangkok Bank Bank of America, N.A. Bank of China Chinatrust Commercial Bank Citibank, N.A.
    [Show full text]