 Banks in the Philippines are classified into the following:

1) Universal Banks
Universal banks have the same powers and functions as with commercial banks. In addition,
universal banks may perform the following:
a. Powers of an investment house
b. Power to invest in non-allied enterprises
c. Power to own up to 100% of the equity in a thrift bank, rural bank, a financial allied
enterprise or a non-financial allied enterprise.
d. In case of listed universal banks, the power to own up to 100% of voting stock of ONLY one
universal bank or commercial bank.

2) Commercial Banks
Have the powers to exercise all such powers to carry out commercial banking such as
accepting drafts and issuing letters of credit, discounting and negotiating promissory notes,
drafts, bills of exchange and other evidences of debt, accepting or creating demand deposits,
receiving other types of deposit substitutes, buying and selling foreign exchange and gold or
silver bullion, acquiring marketable bonds and other debt securities, and extending credit.
Commercial banks may also invest in allied enterprises; purchase, hold or convey real estate;
receive custody funds, documents and valuable objects; act as financial agent and buy and
sell by order of and for the account of their customers, evidences of indebtedness and all
types of securities; make collections and payments for the account of others; upon prior
approval of the Monetary Board act as managing agent, adviser, consultant or administrator of
investment accounts; rent out safety deposit box; and, engage in quasi-banking functions.

3) Thrift Banks
Composed of (a) savings and mortgage banks, (b) stock savings and loan associations and (c)
private development banks.  Thirft banks may perform the following: grant secured or
unsecured loans; invest in readily marketable bonds and other debt securities, commercial
papers and accounts receivable, drafts, bills of exchange, acceptances or commercial notes;
issue domestic letters of credit; extend credit facilities to private and government employees;
extend credit against the security of jewelry and similar items; accept savings and time
deposits; rediscount paper with Land Bank of the Phils, Devt Bank of the Phils, and other
GOCCs; accept foreign currency deposits; act as correspondent for other financial
institutions; purchase, hold or convey real estate; and, offer other banking services provided
in Sec 53 of RA no. 8791.  With prior approval of the Monetary Board, thrift banks may also:
open current/checking accounts; engage in trust, quasi-banking functions and money market
operations; act as collection agent for government entities; act as official depository or
national agencies and local government funds in the local government unit the bank is
located; issue mortgage and chattel mortgage certificates; invest in equity of allied
undertakings; issue foreign letters of credit; and, pay/accept/negotiate import/export draft bills
of exchange.

4) Rural Banks
Rural banks may perform the following: extend loans and advances to farmers, fishermen,
farm families, cooperatives, merchants, private and public employees; accept savings and
time deposits; act as correspondent for other financial institutions; rediscount paper with
Land Bank of the Phils, Devt Bank of the Phils or any other bank; act as collection agent; offer
other banking services provided in Sec 53 of RA 8791.  With prior approval of the Monetary
Board, an RB may perform: accept current or checking account provided rural bank has a net
asset of at least PHP5 million; accept negotiable order of withdrawal accounts; act as trustee
over estates/properties of farmers and merchants; act as official depository of local
government unit in the local government unit where bank is locates; sell domestic drafts; and
invest in allied undertakings.

5) Cooperative Banks
A Coop Bank shall primarily provide financial, banking and credit services cooperatives and
their members, and to general public. It may also perform any or all of the banking services
offered by other types of banks subject to prior approval of the BSP.

6) Islamic Banks
An islamic bank, insofar as not inconsistent or incompatible with RA 6848, may perform: open
savings accounts for safekeeping with no participation in profit or loss unless authorized by
the holder; accept investment account placements and invest the same for a term with the
bank's funds in Islamically permissible transactions on participation basis; accept foreign
 currency deposits; buy and sell foreign exchange; handle remittances and fund transfers;
accept drafts and issue letters of credit, negotiate notes and bills of exchange and other
evidence of indebtedness; act as collection agent; provide financing; handle storage
operations for goods or commodity financing; issue shares for the account of institutions and
companies assisted by the bank; undertake various investments in all transactions allowed by
Islamic Shari'a; and other services allowed by Monetary Board.

 CORPORATION

Sole Proprietorship
Sole Proprietorship is a business structure owned by an individual who has full control/authority of its business and owns all the
assets, personally owes answers to all liabilities or suffers all losses but enjoys all the profits to the exclusion of others. A sole
proprietorship must apply for a business name and be registered with the Department of Trade and Industry (DTI) - National Capital
Region (NCR). In the provinces, application may be filed with the DTI regional/provincial offices.
 
Partnership
Under the Civil Code of the Philippines, a partnership is treated as juridical person, having a separate legal personality from that of its
members. Partnerships may either be general partnerships, where the partners have unlimited liability for the debts and obligation of
the partnership, or limited partnerships, where one or more general partners have unlimited liability and the limited partners have
liability only up to the amount of their capital contributions. It consists of two or more partners. A partnership with more than Peso
3,000 capital must register with the Securities and Exchange Commission (SEC).
 
Corporation
Corporation is composed of juridical persons established under the Corporation Code and regulated by the SEC with a personality
separate and distinct from that of its stockholders. The liability of the shareholders of a corporation is limited to the amount of their
share capital. It consists of at least five to 15 incorporators, each of whom must hold at least one share and must be registered with
the SEC. Minimum paid up capital is Peso 5,000. A corporation can either be stock or non-stock company regardless of nationality.
Such company, if 60% Filipino - 40% foreign-owned is considered a Filipino corporation; if more than 40% foreign-owned, it is
considered a domestic foreign-owned corporation.
 
Stock Corporation
Stock Corporation is a corporation with capital stock divided into shares and authorized to distribute to the holders of such shares
dividends or allotments of the surplus profits on the basis of the shares held.
 
Non-Stock Corporation
Non Stock Corporation is a corporation organized principally for public purposes such as charitable, educational, cultural, or similar
purposes and does not issue shares of stock to its members.

1. San Miguel Corporation. ...

2. Nestle Philippines. ...
3. Accenture. ...
4. Shell Philippines. ...
5. Procter & Gamble Philippines. ...
6. SM Investments Corporation. ...
7. ABS-CBN Corporation. ...
8. BDO Unibank.

 COOPERATION

Top 10 Rural and Cooperative Banks

Assets in Millions in Philippine Peso (data
Rural and Cooperative
provided by Bangko Sentral as of
Banks
September 2017)
1. One Network Bank 28,147.16
2. EastWest Rural Bank 22,608.07
3. CARD Bank, Inc. 11,219.51
4. Guagua Rural Bank 4,498.17
5. First Isabela
Cooperative Bank (FICO 3,900.87
Bank)
 6. GM Bank of Luzon 3,445.57
7. Quezon Capital Rural
3,419.21
Bank
8. Metro South
3,021.85
Cooperative Bank
9. Bank of Florida (BOF
2,908.36
Inc.)
10. AMA Rural Bank 2,719.40

 TRADE UNIONS

Unions in the Philippines are classified into two (2) types or sectors; PUBLIC and
PRIVATE. 

PUBLIC SECTOR UNION or PUBLIC EMPLOYEES ORGANIZATION refers

to any organization, union or association of employees in the agencies of government
which exist in whole or in part for the purpose of collective negotiations or mutual
aid, interest, cooperation and protection. 

PRIVATE SECTOR UNION or LABOR ORGANIZATION refers to any

union or association of employees in the private sector which exist in whole or in
part for the purpose of collective bargaining or mutual aid, interest, cooperation,
protection or other lawful purposes.

Labor organizations are classified into two FORMAL and INFORMAL

SECTOR.

Formal sector refers to organization with employee-employer relationship,

also known as Enterprise-Based Unions it is composed of Chartered Local,
Affiliate and Independent Unions.
Informal sector refers to organization with no definite employer.

 INTERNATIONAL ORGANIZATION IN PHILIPPINES

 International Labour Organization (ILO)
 United Nations Children's Fund (UNICEF)
 United Nations Development Programme (UNDP)
 United Nations Human Settlements Programme (UN-HABITAT)