Name: John Ver Z.

Soliman
Section: FM-11
Subject: Banking and Financial institutions
Task: Enumerate 10 local banks with their complete names

10 Local Banks with their short background:

1. Metropolitan Bank and Trust Company

 Also known as Metrobank

 It was founded in 1962 and in the year of 1970 this bank opened its first
international branch in Taipei.
 It is one of the premier financial institutions of the country.
 This bank provides a variety of banking products and services all over the
world

2. Bank of the Philippine Islands

 This bank was founded in 1851 which makes it the oldest bank in the
Philippines and Southeast Asia.
 This was previously known as El Banco Espanol Filipino de Isabel II.
 It has more than 800 branches locally and in Hong Kong and Europe, 3000
ATMs and cash deposit machines. 

3. Land Bank of the Philippines

 This is government-owned and is the largest formal credit institution in rural

areas.
 This bank was formed in 1963 with the aim of helping farmers and fishermen
from the revenues earned from commercial banking operations.
 This is one of the leading commercial banks in terms of assets, deposits, and
loans.

4. Philippine National Bank

 This is one of the largest private banks in the country.

 It has a full range of banking and financial products and services.
 It works closely with the government, agencies, local government units, and
government-owned and controlled corporations.
5. Security Bank Corporation

 This was the first private and Filipino controlled bank founded in 1951.
 It offers a full range of products and services in retail, commercial, and
financial sectors.
 This is one of the most stable banks in the industry with an asset of
US$2.68 billion.

6. China Banking Corporation

 This was the first privately owned local commercial bank that provides
products and services like deposits, investments, remittances, and cash
management.
 This bank also monitors subsidiaries and affiliates providing insurance
brokerage and bank assurance.

7. Development Bank of the Philippines

 With assets of US$10.27 billion, this bank is the 2nd largest state-owned

bank and one of the country’s largest government-owned and controlled
banks.
 They specialize in four major sectors- infrastructure and logistics, SMEs,
social services, and the environment.

8. Union Bank of the Philippines

 This bank is the first one to start online banking in the country.
 They have an EON Cyber Account which is the first electronic savings
account in the country.
 It also provides cash management and B2B banking services to the local
and multinational companies in the country.

9. Rizal Commercial Banking and Corporation

 This is a development bank licensed by the Central Bank for commercial

and investment banking.
 It has nearly 448 branches and more than 1100 ATMs across the country.
The total assets of this bank are US$9.95 billion.

10. BDO Unibank.

 This is the top bank in terms of assets.

 This bank was founded in 1968 as a thrift bank then known as Acme
Savings Bank and was renamed Banco De Oro Savings and Mortgage
Bank after it was acquired by the SY Group in 1976.
  This is a full-service universal bank and also is leading the way in
consolidated resources, customer loans and deposits, branch, and ATM
network.

Reference:
https://www.wallstreetmojo.com/banks-in-philippines/#h-1-bdo-unibank-inc