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Thrift BanksAntonino | Gagarino | Gonzales | Manalang | Raypan| Severino
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Thrift Banks
A thrift institution is a financial institution formedprimarily to accept consumer deposits and makehome mortgages.
tend to be community-focused, and smaller than retail andcommercial banks.
Thrift institutions often pay out more in dividends (interest) thando traditional financial institutions and have access to lower costfunds from organizations like Federal Home Loan Banks
Since financial services have become increasingly deregulated,thrift institutions have been able to offer more services tobusinesses, however.
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Commercial banks vs Thrifts andSavings Banks vs InsuranceCompanies
Commercialbanks
Thrifts andsavings banks
Insurancecompanies
- depository
institutions
whose major
assets are
loans and
major
liabilities are
deposits
- depositoryinstitutions inthe form ofsavings banks,savings andloans, creditunions, creditcooperatives
- financial
institutions
that protect
individuals and
corporations
from adverse
events
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Primary Types of Thrift Banks
Mutual Banks
Savings and Loan Associations
Credit Unions
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RANK BANK ASSETS RANK
MARCHBILLION DECEMBER
2013 PESOS 2012
1. BPI Family 164.654 1
2. PSBank 115.977 2
3. RCBC Savings 63.689 3
4. Planters Development 54.221 4
5.
Philippine Business
36.534
5
6. Sterling Bank 29.195 6
7. HSBC Savings 22.937 7
8. City Savings 18.327 8
9. China Bank Savings 11.955 11
10. Citibank Savings 11.812 9
11.
BPI Direct Savings
9.871
12
12. First Consolidated 9.606 10
13. UCPB Savings 8.756 14
14. PR Savings 8.263 13
15. Philippine Postal 7.118 17
16.
Security Bank Savings
6.571
16
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17.
Malayan Bank Savings
5.773
18
18. Producers Savings 5.758 15
19. Equicom Savings 5.016 19
20. Allied Savings 4.367 20
21.
BPI Globe Banko
3.911
21
22. Wealth Development 3.692 22
23. Luzon Development 2.963 24
25. Citystate Savings 2.704 23
26. Enterprise Bank 1.921 27
27. Penbank 1.876 29
28.
ComSavings Bank
1.866
26
29. Queen City Development 1.753 30
30. United Overseas 1.707 28
31. BDO Elite Savings 1.591 31
32.
Tong Yang Savings
1.476
33
33.
Optimum Development
1.367
32
34. Hiyas Banking 1.239 34
35. Bank One Savings 1.102 36
36.Dumaguete CityDevelopment
1.087 38
37. Century SavingsA 1.082 37
38.
Isla Bank
1.051
39
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Other Thrift Banks
Area Development Bank Asiatrust Development Bank
BankOne Savings and Trust Corporation
Cordillera Savings and Loan Bank
Equicom Savings Bank Express Savings Bank
GSIS Family Bank(subsidiary ofthe Government Service Insurance System)
Legazpi Savings Bank, Inc. Lemery Savings and Loan Bank
Liberty Savings and Loan Association
Metro Cebu Public Savings Bank
http://en.wikipedia.org/w/index.php?title=Area_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Cordillera_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/w/index.php?title=Express_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=GSIS_Family_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Liberty_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Metro_Cebu_Public_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Metro_Cebu_Public_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Liberty_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/w/index.php?title=GSIS_Family_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Express_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/w/index.php?title=Cordillera_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Area_Development_Bank&action=edit&redlink=18/11/2019 Thrift Banks Report
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Micro Enterprise Bank
Microfinance Maximum Savings Bank, Inc.
(MAXBANK) Peafrancia Savings and Loan Association
Philam Savings Bank(subsidiary of Philam Life)
Philippine Resources Savings Banking
Corporation(PR Savings Bank) Progress Savings and Loan Association
The Real Bank
Tower Development Bank
UCPB Savings Bank(subsidiary of UnitedCoconut Planters Bank)
University Savings and Loan Bank
World Partners Bank
http://en.wikipedia.org/w/index.php?title=Micro_Enterprise_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Progress_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/wiki/The_Real_Bankhttp://en.wikipedia.org/w/index.php?title=Tower_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=UCPB_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=University_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=World_Partners_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=World_Partners_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=University_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=UCPB_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Tower_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/The_Real_Bankhttp://en.wikipedia.org/w/index.php?title=Progress_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Micro_Enterprise_Bank&action=edit&redlink=18/11/2019 Thrift Banks Report
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Monte de Piedad - it is consideredthe Philippines' first savings bank.
Its original name in Spanish was Montede Piedad y Caja de Ahorros.
Had its first building on Plaza Goiti inSanta Cruz, Manila. Its businesses wereconcentrated in banking andpawnshops.
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GE Money, in an effort to expand its presence in
Southeast Asia, acquired a majority stake in thenow-defunct Keppel Bank Philippines whichacquired what was formerly the Monte De PiedadBank, the Philippines' first savings bank. The
acquisition was finalized on December 20, 2005after the Monetary Board of the Bangko Sentralng Pilipinas. approved the purchase on December8, 2005. The bank was renamed GE Money BankPhilippines. At present, GE Money BankPhilippines has 31 branches all over the Philippinearchipelago.
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Law on Thrift Banks
REPUBLIC ACT NO. 7906
An act providing for the regulation of the
organization and operations of thrift banks, andfor other purposes.
Section 1. Title. This Act shall be known andcited as the "Thrift Banks Act of 1995.
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REPUBLIC ACT NO. 7906
Sec. 2. Declaration of Policy. It is hereby declared thepolicy of the State to:
(a) Recognize the indispensable role of the private sector, toencourage private enterprise, and to provide incentives toneeded investments;
(b) Promote economic development pursuant to thesocioeconomic program of the government, to expandindustrial and agricultural growth, to encourage the
establishment of more private thrift banks in order to meetthe needs for capital, personal and investment credit ormedium- and long-term loans for Filipino entrepreneurs;
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REPUBLIC ACT NO. 7906
(c) Encourage and assist the establishment of thrift banksystem which will promote agriculture and industry andat the same time place within easy reach of the peoplethe medium-and long-term credit facilities at reasonable
cost;
(d) Encourage industry, frugality and the accumulationof savings among the public, and the members andstockholders of thrift banks; and
(e) Regulate and supervise the activities of thrift banksin order to place their operations on a sound, stable andefficient basis and to curtail or prevent acts or practiceswhich are prejudicial to the public interest.
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Role of Rural Banks
to promote and expand the rural economy in an orderlyand effective manner by providing the people in therural communities with basic financial services.
help farmers through the stages of production, frombuying seedlings to marketing of their produce.
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Rural Bank vs Cooperative Banks
Rural banks are privately owned and managed,cooperative banks are organized/owned by cooperativesor federation of cooperatives.
As at 17 February 2014, there were 36 universal andcommercial banks, 71 thrift banks, 533 rural banks, 40credit unions and 6,267 non-banks with quasi-bankingfunctions, all licensed with the Bangko Sentral ngPilipinas (Central Bank of the Philippines) under RepublicAct No. 8791.
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Savings
Income not spent, or deferred consumption. Alsoincludes reducing expenditures, such as recurring costs.
Saving is closely related toinvestment. By not usingincome to buy consumer goods and services, it ispossible for resources to instead be invested by beingused to produce fixed capital, such as factories andmachinery.
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Savings and Loan Association
Also known as thrift, Savings and Loan Association (S&L)
It is a financial institution that specializes in savings deposits andmortgage loans
has become one of the primary sources of mortgage loans forhomebuyers today.
It offers mortgage services to people from the savings and deposits
received from private investors.
Depositors and borrowers are members with voting rights and havethe ability to direct the financial and managerial goals of theorganization.
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Characteristics
Privately or locally managed financial institutions
Uses individuals deposits to make long-term amortizedloans to home buyers.
Disperses loans for home repairs, construction, andrefinancing
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Reference
http://bizfinance.about.com/od/glossaryt/g/thrift-institution.htm
http://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippines#List_of_rural_banks
http://www.bsp.gov.ph/downloads/laws/RA7906.pdf
http://en.wikipedia.org/wiki/Fixed_capital
http://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://www.bsp.gov.ph/downloads/laws/RA7906.pdfhttp://en.wikipedia.org/wiki/Fixed_capitalhttp://en.wikipedia.org/wiki/Fixed_capitalhttp://www.bsp.gov.ph/downloads/laws/RA7906.pdfhttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmTop Related