THRIFT BANKS

Definition of Thrift Bank

A financial institution focusing on taking

deposits and originating home mortgages.
Thrift banks often have access to low-cost
funding from Federal Home Loan
Banks, which allows for higher savings
account yields to customers and increased
liquidity for mortgage loans.
 Definition of Thrift Bank
Also known as "savings and loan
associations".
Smaller than retail and commercial banks.
Aims to provide low-cost mortgages and
high interest rate savings and checking
accounts.
 Who can use a Thrift Bank?

Thrift banks can be used by anyone who

wants no-frills banking services within their
local community
For the average bank user they can be very
beneficial.
They often offer high interest rates and
great deals on mortgages.
Are thrift banks government banks?

Are not usually owned by the government.

Deposits made into a thrift bank are
normally protected by a government.
 Function
The main function of a thrift bank is to
provide their customers and users with
mortgages, and to take deposits for banking
conventions such as savings accounts.
 Republic Act No. 7906
Thrift Banks Act of 1995

AN ACT PROVIDING FOR THE

REGULATION OF THE
ORGANIZATION AND OPERATIONS
OF THRIFT BANKS, AND FOR
OTHER PURPOSES.
DECLARATION OF POLICY AND
DEFINITIONS

Section 1. Title. — This Act shall be known

and cited as the "Thrift Banks Act of 1995."
Sec. 2. Declaration of Policy. — It is hereby
declared the policy of the State to:
(a) Recognize the indispensable role of the private sector,
to encourage private enterprise, and to provide incentives
to needed investments;
(b) Promote economic development pursuant to the
socioeconomic program of the government, to expand
industrial and agricultural growth, to encourage the
establishment of more private thrift banks in order to meet
the needs for capital, personal and investment credit or
medium- and long-term loans for Filipino entrepreneurs;
(c) Encourage and assist the establishment of thrift bank
system which will promote agriculture and industry and at
the same time place within easy reach of the people the
medium-and long-term credit facilities at reasonable cost;
(d) Encourage industry, frugality and the accumulation of
savings among the public, and the members and
stockholders of thrift banks; and
(e) Regulate and supervise the activities of thrift
banks in order to place their operations on a
sound, stable and efficient basis and to curtail or
prevent acts or practices which are prejudicial to
the public interest.
Top 27 Savings Banks or Thrift Banks in the
Philippines
1. Philippine Savings Bank (PSBank)
2. BPI Family Savings Bank
3. RCBC Savings Bank, Inc.
4. Planters Development Bank
5. Banco Filipino Savings and Mortgage Bank
Note: Banco Filipino closed on March 15, 2011 because of lack of
cash to fund withdrawals. This bank also closed from 1985 to 1992.
6. Producers Savings Bank Corporation
7. Philippine Business Bank, Inc., A Savings
Bank
8. Robinsons Savings Bank Corporation
9. First Consolidated Bank, Inc. (A Private Dev’t.
Bank)
10. Citibank Savings, Inc.
11. Premiere Development Bank
12. Luzon Development Bank
13. UCPB Savings Bank
14. Asiatrust Development Bank
15. Philippine Postal Savings Bank
16. Citystate Savings Bank, Inc.
17. The Real Bank (A Thrift Bank), Inc.
18. Opportunity Kauswagan Bank, Inc. (A
Microfinance TB)
19. Sterling Bank of Asia, Inc. (A Savings Bank)
20. Allied Savings Bank
21. GSIS Family Bank, A Thrift Bank
22. Equicom Savings Bank, Inc.
23. HSBC Savings Bank (Phils), Inc.
24. Malayan Bank Savings and Mortgage Bank
25. Queen City Development Bank
26. Legazpi Savings Bank, Inc.
27. Wealth Bank – A Development Bank
 Top Four Savings Banks or Thrift Banks

Based on total assets as of June 2010, the top four

savings banks or thrift banks are:
1. BPI Family Savings Bank
124.1 billion pesos in total assets and 10.73 billion
pesos in total stockholders’ equity
2. Philippine Savings Bank
89.15 billion pesos in total assets and 9.56 billion
pesos in stockholders’ equity
3. Planters Development Bank
48.72 billion pesos in total assets and 3.6 billion pesos in
stockholders’ equity
4. RCBC Savings Bank, Inc.
47.22 billion in total assets and 6.24 billion in
stockholders’ equity
Asset data for 5th-placer and 6th-placer in number of
offices were not provided:
5th – Banco Filipino Savings and Mortgage Bank
6th – Producers Savings Bank Corporation