Foreign Banks in the Philippines

[sweet_7326]

aside from the following:

HSBC
Standard Chartered
Deutsche Bank
ADB


what other banks are currently having a commercial/full banking rights in the phils?

[Hulk]

Di naman commercial bank ang ADB. Aside from those that you mentioned:

Citibank
Maybank
ING
Korea Exchange Bank
Bank of China
International Commetcial Bank of China
Chinatrust
Bank of Tokyo-Mitsubishi
Mizuho Corporate Bank
JP Morgan Chase Bank
ANZ Bank
Bangkok Bank


Plus marami pang may OBU license lang like Calyon, Bank of New York, etc.


:frank:

[trizfores]

there's a jp morgan chase bank here? where ba?

another bank, or 2 to add to the list is
bank of america
standard chartered
HSBC
united overseas bank
american express

[golfer_guy]

JP Morgan has an office in Philamlife Tower, Makati

[Hulk]

Wala ng Bank of America. I think they or their license got purchased by one of the abovementioned.


:frank:

[mac_bolan00]

what do they all have in common? they're afraid to lend to businesses.

[vandarkala]

That's not true, the bigger Banks like Standard Chartered, Citi and HSBC live on corporate banking with as much as 80% of their income derived from this sector. Well, yes, they do shy away from rather small businesses which offer little returns for significant exposure. Besides, I think small businesses should go for smaller banks which can offer them more customized products at lower prices.

[chip-L2]

Related question: Which of these foreign banks have Special Purpose Vehicle subsidiaries operating in the Philippines?

- AFAIK, Lehman Brothers has one operating as First Philippine (fill in the blank)

I believe other investment banks such as Morgan Stanley have also come in the country through a purchase of a local bank's bad debts. I'm working in the real estate industry right now and I believe that I have a fair chance of getting into one of these banking giants' real estate departments.

[gumacanian]

what do they all have in common? they're afraid to lend to businesses.

Thats why they are still in business :lol:

[golfer_guy]

do they have job openings? =)

[babyny]

Wala ng Bank of America. I think they or their license got purchased by one of the abovementioned.


:frank:

I wonder which one? HSBC maybe?

[dogan]

i'm not sure of the entire story, but I used to have an account at Bank of America Savings.. then my bank became ABN-AMRO.. which eventually became Robinsons Savings..

[SUX2BÜ]

That's not true, the bigger Banks like Standard Chartered, Citi and HSBC live on corporate banking with as much as 80% of their income derived from this sector. Well, yes, they do shy away from rather small businesses which offer little returns for significant exposure. Besides, I think small businesses should go for smaller banks which can offer them more customized products at lower prices.

HSBC alone has "customized products and services" (small-scale loans, lines of credit, nonrecourse commercial mortgage loans, merchant and trade services) catering to SoHos and even mom and pop biz.

:)

[mac_bolan00]

not quite.
gumacanian

Thats why they are still in business

now-you-see-them-now-you-don't.

that's what most foreign banks are. their so-called corporate banking involves lending clean to top-100 local companies and multi-nats in the phils and in neighboring countries. they wouldn't know how to lend to small, informal businesses, especially those in binondo and divisoria.

not at all impressive.