One requested list was this: Example of Commercial Banks in the Philippines.
Maybe the one who wrote it meant Examples.
So here's an alphabetical list of the 25 Commercial Banks in the Philippines, as of August 2020:
- Bangkok Bank Public Co. Ltd.
- Bank of America, N.A.
- Bank of China Limited – Manila Branch
- Bank of Commerce
- The Bank of Tokyo-Mitsubishi UFJ, Ltd.
- BDO Private Bank, Inc.
- Cathay United Bank Co., Ltd. – Manila Branch
- Chang Hwa Commercial Bank, Ltd. – Manila Branch
- CIMB Bank Philippines Inc.
- Citibank, N.A.
- CTBC Bank (Philippines) Corp.
- First Commercial Bank, Ltd., Manila Branch
- Hua Nan Commercial Bank, Ltd. – Manila Branch
- Industrial Bank of Korea – Manila Branch
- JP Morgan Chase Bank, N.A.
- KEB Hana Bank — Manila Branch
- Maybank Philippines, Inc.
- Mega International Commercial Bank Co., Ltd.
- MUFG Bank, Ltd.
- Philippine Bank of Communications
- Philippine Veterans Bank
- Robinsons Bank Corp.
- Shinhan Bank – Manila Branch
- Sumitomo Mitsui Banking Corporation – Manila Branch
- United Overseas Bank Limited, Manila Branch
Of these 25 commercial banks, 5 are local or domestic banks and the other 20 are foreign-owned banks.
The 5 local banks are:
- Bank of Commerce
- BDO Private Bank
- Philippine Bank of Communications
- Philippine Veterans Bank
- Robinsons Bank Corp.
Of the 20 foreign banks, 10 were established under the foreign bank entry liberalization law which was passed under President Benigno Aquino Jr.'s administration in 2014.
- Sumitomo Mitsui Banking Corp. (from Japan, start in 2015)
- Cathay United Bank (from Taiwan, start in 2015)
- Shinhan Bank (from South Korea, start in 2015)
- Industrial Bank of Korea (from South Korea, start in 2015)
- United Overseas Bank (UOB) (from Singapore, start in 2015)
- First Commercial Bank (from Taiwan, start in 2016)
- Hua Nan Commercial Bank (from Taiwan, start in 2017)
- Chang Hwa Commercial Bank, Ltd. – Manila Branch (from Taiwan, start in 2018)
- CIMB Bank Philippines (from Malaysia, start in 2018)
- Industrial and Commercial Bank of China Ltd. (from China, start in 2019)
What business activities are commercial banks authorized to do?
- General powers incident to corporations and those provided in other laws
- Accept drafts and issue letters of credit
- Discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt
- Accept or create demand deposits
- Receive other types of deposits and deposit substitutes
- Buy and sell foreign exchange and gold or silver bullion
- Acquire marketable bonds and other debt securities
- Extend credit
- Invest in the equities of allied enterprises
- Purchase, hold and convey real estate
- Receive in custody funds, documents and valuable objects
- Act as financial agent and buy and sell, by order of and for the account of their customers, shares, evidences of indebtedness and all types of securities
- Make collections and payments for the account of others and perform such other services for their customers as are not incompatible with banking business
- Rent out safety deposit boxes
- Engage in quasi-banking functions
- Act as managing agent, adviser, consultant or administrator of investment management/advisory/consultancy accounts, with Monetary Board approval
What business activities are commercial banks Not authorized to do?
- They cannot invest in the equities of non-allied businesses
- They cannot function as an investment house
- They cannot own up to 100% of the equity in a thrift bank, rural bank, allied financial business or allied non-financial business.
Reference for the powers of commercial banks:
example of commercial banks in the Philippines