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  • Cornell Notes - FMGT 65

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    Seok Jin Kim
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    The document summarizes key events and institutions during the Spanish period in the Philippines from 1854 to 1893. It notes that the Obras Pias was the first organized institution in 1854. The Banco Español-Filipino de Isabel II, established in 1851, was the first bank in Southeast Asia and is now known as BPI. The opening of the Suez Canal in 1869 expanded trade between the Philippines and Europe. British and Hong Kong banks opened agencies and branches in Manila in the 1870s to engage in banking activities like money exchange. The Monte de Piedad y Caja de Ahorros de Manila was founded in 1882 as the first savings bank. Four banks were operating by the end of the Spanish period in 1893

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    Cornell Notes_FMGT 65

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    The document summarizes key events and institutions during the Spanish period in the Philippines from 1854 to 1893. It notes that the Obras Pias was the first organized institution in 1854. The Banco Español-Filipino de Isabel II, established in 1851, was the first bank in Southeast Asia and is now known as BPI. The opening of the Suez Canal in 1869 expanded trade between the Philippines and Europe. British and Hong Kong banks opened agencies and branches in Manila in the 1870s to engage in banking activities like money exchange. The Monte de Piedad y Caja de Ahorros de Manila was founded in 1882 as the first savings bank. Four banks were operating by the end of the Spanish period in 1893

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    4 views1 page

    Cornell Notes - FMGT 65

    Uploaded by

    Seok Jin Kim
    The document summarizes key events and institutions during the Spanish period in the Philippines from 1854 to 1893. It notes that the Obras Pias was the first organized institution in 1854. The Banco Español-Filipino de Isabel II, established in 1851, was the first bank in Southeast Asia and is now known as BPI. The opening of the Suez Canal in 1869 expanded trade between the Philippines and Europe. British and Hong Kong banks opened agencies and branches in Manila in the 1870s to engage in banking activities like money exchange. The Monte de Piedad y Caja de Ahorros de Manila was founded in 1882 as the first savings bank. Four banks were operating by the end of the Spanish period in 1893

    Copyright:

    © All Rights Reserved
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    of 1

    Spanish Period Obras Pias (1854) - “first organized

    institution”
    - Church directed
    Banco Español-Filipino de Isabel II - “first bank in South East
    (August 1, 1851) Asia”
    - General banking
    - BPI today
    Opening of Suez Canal (1869) - Expanded Phil-Europe
    trade
    British Capital (1873) - Chartered Bank of India,
    Australia, and China w/
    headquarters in London put
    up agency in PH.
    - Engaged in gen. banking
    but more of an exchange
    bank rather than
    commercial.
    - Buying and selling of drafts
    and bills of exchange
    Hong Kong and Shanghai Banking - Established a branch in PH.
    Corp. (1875) - Engaged in gen. banking
    but more of an exchange
    bank rather than
    commercial.
    - Buying and selling of drafts
    and bills of exchange
    Monte de Piedad y Caja de Ahorros - Founded by Father Felix
    de Manila (August 2, 1882) Huertas
    - “first savings bank in PH”
    Banco Peninsula Ultramarino of - Opened a branch but only
    Madrid (August 2, 1882) lasted for 4years
    End of Spanish Regime (1893) - 4 banks operate

    American Period

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