NAME: LILIBETH L.

ORONG

TIMELINE ON THE BANKING HISTORY OF THE PHILIPPINES

Obras Plas was the first organized credit institutions that were established in the Philippines.
It is a charitable foundation during the spanish period.
16th
Century

The opening of the Suez Canal facilitated trade between the Philippines and Europe.
1869

The Philippine National Bank (PNB) was established with the philippine Government as the majority
1916 stakeholder.

The Manila branch of the YOkohama Specie Bank was given license to do business in the Philippines.
1918

More foreign bank branches were established in the Philippines.

1935- These include the bank of Taiwan and the Nederlandsche Indische Handellsbanks.
1946

The government created the Agricultural and Industrial Bank to absorb the functions of the National Loan and
1939 Investment Board and to harness government resources.

The Nampo kaihatsu Kinko (southern Development Bank) opened a manila branch and acted as the japanese
1942 government's fiscal agent in the philippines.

A branch of the Bank of America was allowed to establish a branch in Manila and in the following year, it
1947 absorbed the assets and liabilities of the local branch of the Nederlandsche Indische Handelsbanks.

The Rural Bank Act was enacted and two years later, the Agricultural and Industrial Bank merged with the
1952 Reconstruction and Rehabilitation Fund to form the Development Bank of the Philippines.

The American established the Guaranty Trust Corporation (GTC) and International Banking Corporation.
The existence of GTC was short-lived, while IBC was eventually taken over by the National City Bank of
20th New York (known as Citibank).
Century