Banco Filipino Corporation

INTRODUCTION
Subok Na Matibay, Subok Na Matatag (Tested Strong, Proven Stable), the
slogan of once well-known and once most popular bank in the Philippines, the Banco
Filipino, formerly known as Banco Filipino Savings and Mortgage Bank, but
surprisingly, it was closed twice in 1985 and in 2011 in the history of banks in the
Philippines.
Banco Filipino started its operation in 1964, founded by Tomas Aguirre and
was known as one of the thrift bank. The Aguirre family together with the founder
control and manage the aforementioned bank. And In 1965, Banco Filipino
innovated and became the first all-woman bank, making it number 1 among the
banks back then. Because of its continuous innovation of its services, in 1966 it
became the largest savings bank in the Philippines. It also became the first bank to
process online transactions in real time in 1969, giving customers the ability to
deposit in any online Banco Filipino branch. In 1970, Banco Filipino started
expanding into the countryside with its first provincial branch opening in Naga City.
By 1972, the bank's customer base grew to one million customers, even in the
midst of martial law. Banco Filipino continuous to grew and was voted the most
preferred bank in Metro Manila in 1975. By 1981, the Banco Filipino made a record
that no other bank could achieved at that time, it had 89 branches, four billion
pesos worth of assets, three million customers and three thousand shareholders.
A. Background of the Study