the philippine banking system.pptx
TRANSCRIPT
THE
PHILIP
PINE
BANKING
SYSTEM
SPAN
ISH
ERA
SUBMITTED BY: Mary Ann Licon
Tricia Mae Camota
SPANISH ERA
1594- (“Obras Pias”) the first organized institution in the Philippines
and began to operate this year.
• The operation of these institutions were largely financed by pious Catholics mainly to finance the
commercial activities of traders or merchants in their trade with
ACAPULCO, MEXICO
1851- First Important bank in the country the"Banco Espanol-Filipino de Isabel
II".
1854- Banco Espanol-Filipino granted the favor of note issue by royale decree
on October 17, 1854.
1869-The greatly expanded Filipino-European trade.
1873- Chartered banks of India, Australia and China
1876-Another British owned a bank this the Hong-Kong Shanghai banking Corp.
1882- MONTE DE PIEDAD, the first savings bank in the
Philippines
1883- THE BANCO PENINSULA ULTRAMARINO DE MADRID but
closed four years later.
• Supervision and regulation were negligible and lax, with only the general provisions of the Spanish Civil Code and the code of Commerce of Spain regulating banking business.
• The government at that time did not have any definite commitment as to responsibility to either banks or their clients.