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SUBMITTED BY:
Mary Ann Licon
Tricia Mae Camota

SPANISH ERA
1594- (Obras Pias)

the first
organized institution in the Philippines
and began to operate this year.
The operation of these institutions
were largely financed by pious
Catholics mainly to finance the
commercial activities of traders or
merchants in their trade with
ACAPULCO, MEXICO

1851- First Important bank

in the country the"Banco
Espanol-Filipino de Isabel
II".
1854- Banco EspanolFilipino granted the favor of
note issue by royale decree
on October 17, 1854.

1869-The greatly expanded

Filipino-European trade.
1873- Chartered banks of India,
Australia and China
1876-Another British owned a
bank this the Hong-Kong
Shanghai banking Corp.

1882- MONTE DE PIEDAD, the

first savings bank in the
Philippines

1883- THE BANCO PENINSULA

ULTRAMARINO DE MADRID but
closed four years later.

 Supervision and regulation were

negligible and lax, with only the
general provisions of the Spanish
Civil Code and the code of
Commerce of Spain regulating
banking business.
The government at that time did not
have any definite commitment as to
responsibility to either banks or their
clients.