Historical Development of the Banking System in the Philippines

Obras Pias was a charitable foundation during the Spanish period. The word itself means works of piety in Spanish. The
Church directed a share of personal fortunes to its charities such as the obras pias. Donors had specified that the funds
are to be used for charitable, religious and educational purposes.

1. BANCO RODRIGUEZ – first rural bank in the Philippines since 1952

2. ORIENT BANK

3. HSBC – the world’s local bank

4. Monte de Piedad
○ First mutual savings bank in 1882

○ Spanish Franciscan friar was the prime mover

○ Original name: Monte de Piedad y Caja de Ahorros

○ A bank and a pawnshop

○ Closed in 1994

5. KEPPEL BANK

6. Banco Español-Filipinas de Isabel II

 Country’s first bank branch
 BPI Iloilo Branch Office
 BPI established and inaugurated the very first bank branch in 1897
 BPI issued first paper notes

7. PHILPPINE NATIONAL BANK (PNB)

 First agricultural bank (1916)
 First universal bank (1980)
 De facto Central Bank

8. BANGKO SENTRAL NG PILIPINAS (1949)

Philppines Central Monetary Authority (January 3, 1949)

Bangko Sentral ng Pilipinas (July 3, 1993)

BANKS TODAY…

 BDO  LANDBANK  UNIONBANK

 Unibank  PHILIPPINE  RCBC
 METROBANK NATIONAL BANK  DEVELOPMENT
 BANK OF THE  SECURITY BANK BANK OF THE
PHILIPPINE ISLANDS  CHINABANK PHILIPPINES