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Types of Banks in The Philippines
Types of Banks in The Philippines
Types of Banks in The Philippines
Philippines
Universal Banks
offer the widest variety of services
among all financial institutions in the
Philippines today. In addition, only
banks under this category can
engage in the functions of an
investment house such as
underwriting. Universal banks can
also invest in equities of non-allied
undertakings.
Commercial Banks
offer the same variety of banking
services offered by a universal bank.
However, it cannot engage in
underwriting and other functions of
an investment house.
Thrift Banks
They also provide short-term working
capital and medium- and long-term
financing to businesses engaged in
agriculture, services, industry and
housing, and diversified financial and
allied services, and to their chosen
markets and constituencies,
especially small- and mediumenterprises and individuals.
Rural Bank
commonly found in far-flung areas that
cannot be reached by bigger banking
institutions. These privately-owned banks
provide basic financial services to the
small but growing economies in the
countryside. More often than not, the
rural banks are the ones helping farmers
through the stages of production--from
providing loans for inputs and irrigation
to harvest.