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Thrift Banks Report

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    Thrift BanksAntonino | Gagarino | Gonzales | Manalang | Raypan| Severino

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    Thrift Banks

    A thrift institution is a financial institution formedprimarily to accept consumer deposits and makehome mortgages.

    tend to be community-focused, and smaller than retail andcommercial banks.

    Thrift institutions often pay out more in dividends (interest) thando traditional financial institutions and have access to lower costfunds from organizations like Federal Home Loan Banks

    Since financial services have become increasingly deregulated,thrift institutions have been able to offer more services tobusinesses, however.

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    Commercial banks vs Thrifts andSavings Banks vs InsuranceCompanies

    Commercialbanks

    Thrifts andsavings banks

    Insurancecompanies

    - depository

    institutions

    whose major

    assets are

    loans and

    major

    liabilities are

    deposits

    - depositoryinstitutions inthe form ofsavings banks,savings andloans, creditunions, creditcooperatives

    - financial

    institutions

    that protect

    individuals and

    corporations

    from adverse

    events

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    Primary Types of Thrift Banks

    Mutual Banks

    Savings and Loan Associations

    Credit Unions

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    RANK BANK ASSETS RANK

    MARCHBILLION DECEMBER

    2013 PESOS 2012

    1. BPI Family 164.654 1

    2. PSBank 115.977 2

    3. RCBC Savings 63.689 3

    4. Planters Development 54.221 4

    5.

    Philippine Business

    36.534

    5

    6. Sterling Bank 29.195 6

    7. HSBC Savings 22.937 7

    8. City Savings 18.327 8

    9. China Bank Savings 11.955 11

    10. Citibank Savings 11.812 9

    11.

    BPI Direct Savings

    9.871

    12

    12. First Consolidated 9.606 10

    13. UCPB Savings 8.756 14

    14. PR Savings 8.263 13

    15. Philippine Postal 7.118 17

    16.

    Security Bank Savings

    6.571

    16

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    17.

    Malayan Bank Savings

    5.773

    18

    18. Producers Savings 5.758 15

    19. Equicom Savings 5.016 19

    20. Allied Savings 4.367 20

    21.

    BPI Globe Banko

    3.911

    21

    22. Wealth Development 3.692 22

    23. Luzon Development 2.963 24

    25. Citystate Savings 2.704 23

    26. Enterprise Bank 1.921 27

    27. Penbank 1.876 29

    28.

    ComSavings Bank

    1.866

    26

    29. Queen City Development 1.753 30

    30. United Overseas 1.707 28

    31. BDO Elite Savings 1.591 31

    32.

    Tong Yang Savings

    1.476

    33

    33.

    Optimum Development

    1.367

    32

    34. Hiyas Banking 1.239 34

    35. Bank One Savings 1.102 36

    36.Dumaguete CityDevelopment

    1.087 38

    37. Century SavingsA 1.082 37

    38.

    Isla Bank

    1.051

    39

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    Other Thrift Banks

    Area Development Bank Asiatrust Development Bank

    BankOne Savings and Trust Corporation

    Cordillera Savings and Loan Bank

    Equicom Savings Bank Express Savings Bank

    GSIS Family Bank(subsidiary ofthe Government Service Insurance System)

    Legazpi Savings Bank, Inc. Lemery Savings and Loan Bank

    Liberty Savings and Loan Association

    Metro Cebu Public Savings Bank

    http://en.wikipedia.org/w/index.php?title=Area_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Cordillera_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/w/index.php?title=Express_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=GSIS_Family_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Liberty_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Metro_Cebu_Public_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Metro_Cebu_Public_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Liberty_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Lemery_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Legazpi_Savings_Bank,_Inc.&action=edit&redlink=1http://en.wikipedia.org/wiki/Government_Service_Insurance_Systemhttp://en.wikipedia.org/w/index.php?title=GSIS_Family_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Express_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/wiki/Equicom_Savings_Bankhttp://en.wikipedia.org/w/index.php?title=Cordillera_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=BankOne_Savings_and_Trust_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Asiatrust_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Area_Development_Bank&action=edit&redlink=1
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    Micro Enterprise Bank

    Microfinance Maximum Savings Bank, Inc.

    (MAXBANK) Peafrancia Savings and Loan Association

    Philam Savings Bank(subsidiary of Philam Life)

    Philippine Resources Savings Banking

    Corporation(PR Savings Bank) Progress Savings and Loan Association

    The Real Bank

    Tower Development Bank

    UCPB Savings Bank(subsidiary of UnitedCoconut Planters Bank)

    University Savings and Loan Bank

    World Partners Bank

    http://en.wikipedia.org/w/index.php?title=Micro_Enterprise_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Progress_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/wiki/The_Real_Bankhttp://en.wikipedia.org/w/index.php?title=Tower_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=UCPB_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=University_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=World_Partners_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=World_Partners_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=University_Savings_and_Loan_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=UCPB_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Tower_Development_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/The_Real_Bankhttp://en.wikipedia.org/w/index.php?title=Progress_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philippine_Resources_Savings_Banking_Corporation&action=edit&redlink=1http://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/wiki/Philam_Lifehttp://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Philam_Savings_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Pe%C3%B1afrancia_Savings_and_Loan_Association&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Microfinance_Maximum_Savings_Bank,_Inc._(MAXBANK)&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Micro_Enterprise_Bank&action=edit&redlink=1
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    Monte de Piedad - it is consideredthe Philippines' first savings bank.

    Its original name in Spanish was Montede Piedad y Caja de Ahorros.

    Had its first building on Plaza Goiti inSanta Cruz, Manila. Its businesses wereconcentrated in banking andpawnshops.

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    GE Money, in an effort to expand its presence in

    Southeast Asia, acquired a majority stake in thenow-defunct Keppel Bank Philippines whichacquired what was formerly the Monte De PiedadBank, the Philippines' first savings bank. The

    acquisition was finalized on December 20, 2005after the Monetary Board of the Bangko Sentralng Pilipinas. approved the purchase on December8, 2005. The bank was renamed GE Money BankPhilippines. At present, GE Money BankPhilippines has 31 branches all over the Philippinearchipelago.

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    Law on Thrift Banks

    REPUBLIC ACT NO. 7906

    An act providing for the regulation of the

    organization and operations of thrift banks, andfor other purposes.

    Section 1. Title. This Act shall be known andcited as the "Thrift Banks Act of 1995.

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    REPUBLIC ACT NO. 7906

    Sec. 2. Declaration of Policy. It is hereby declared thepolicy of the State to:

    (a) Recognize the indispensable role of the private sector, toencourage private enterprise, and to provide incentives toneeded investments;

    (b) Promote economic development pursuant to thesocioeconomic program of the government, to expandindustrial and agricultural growth, to encourage the

    establishment of more private thrift banks in order to meetthe needs for capital, personal and investment credit ormedium- and long-term loans for Filipino entrepreneurs;

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    REPUBLIC ACT NO. 7906

    (c) Encourage and assist the establishment of thrift banksystem which will promote agriculture and industry andat the same time place within easy reach of the peoplethe medium-and long-term credit facilities at reasonable

    cost;

    (d) Encourage industry, frugality and the accumulationof savings among the public, and the members andstockholders of thrift banks; and

    (e) Regulate and supervise the activities of thrift banksin order to place their operations on a sound, stable andefficient basis and to curtail or prevent acts or practiceswhich are prejudicial to the public interest.

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    Role of Rural Banks

    to promote and expand the rural economy in an orderlyand effective manner by providing the people in therural communities with basic financial services.

    help farmers through the stages of production, frombuying seedlings to marketing of their produce.

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    Rural Bank vs Cooperative Banks

    Rural banks are privately owned and managed,cooperative banks are organized/owned by cooperativesor federation of cooperatives.

    As at 17 February 2014, there were 36 universal andcommercial banks, 71 thrift banks, 533 rural banks, 40credit unions and 6,267 non-banks with quasi-bankingfunctions, all licensed with the Bangko Sentral ngPilipinas (Central Bank of the Philippines) under RepublicAct No. 8791.

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    Savings

    Income not spent, or deferred consumption. Alsoincludes reducing expenditures, such as recurring costs.

    Saving is closely related toinvestment. By not usingincome to buy consumer goods and services, it ispossible for resources to instead be invested by beingused to produce fixed capital, such as factories andmachinery.

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    Savings and Loan Association

    Also known as thrift, Savings and Loan Association (S&L)

    It is a financial institution that specializes in savings deposits andmortgage loans

    has become one of the primary sources of mortgage loans forhomebuyers today.

    It offers mortgage services to people from the savings and deposits

    received from private investors.

    Depositors and borrowers are members with voting rights and havethe ability to direct the financial and managerial goals of theorganization.

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    Characteristics

    Privately or locally managed financial institutions

    Uses individuals deposits to make long-term amortizedloans to home buyers.

    Disperses loans for home repairs, construction, andrefinancing

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    Reference

    http://bizfinance.about.com/od/glossaryt/g/thrift-institution.htm

    http://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippines#List_of_rural_banks

    http://www.bsp.gov.ph/downloads/laws/RA7906.pdf

    http://en.wikipedia.org/wiki/Fixed_capital

    http://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://www.bsp.gov.ph/downloads/laws/RA7906.pdfhttp://en.wikipedia.org/wiki/Fixed_capitalhttp://en.wikipedia.org/wiki/Fixed_capitalhttp://www.bsp.gov.ph/downloads/laws/RA7906.pdfhttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://en.m.wikipedia.org/wiki/List_of_banks_in_the_Philippineshttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htmhttp://bizfinance.about.com/od/glossaryt/g/thrift-institution.htm

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