Jump to navigation Jump to search For the merged PNB-Allied Bank, see Philippine National Bank. On February 9, 2013, the bank was merged with Philippine National Bank, creating the fourth largest private domestic bank in the Philippines. Allied Bank was incorporated under the laws of the Republic of rcbc forex corporation Philippines on April 11, 1977, and granted by the Central Bank of the Philippines the Certificate of Authority to operate as a commercial bank on May 20, 1977. It formally opened for business on June 2, 1977.
December 1981 granted to operate as expanded commercial bank or universal bank. In the Philippines, the universal banking group of Allied Bank included a wholly owned savings bank, the Allied Savings Bank, wholly owned Allied Forex Corp. On February 9, 2013, the PNB-Allied Bank merger was completed, adopting the name Philippine National Bank. Tarriela will be the chairman and Mier will be the chief executive of the merged bank. This page was last edited on 7 April 2018, at 14:14. This article contains content that is written like an advertisement.
It is one of the largest universal banks in the Philippines with total consolidated resources of Php 516. Merchants Savings and Loan Association, Inc. In 1964, RCBC marked a significant presence in the Filipino-Chinese business community with the opening of its first branch in Binondo. In 1967, this foothold was strengthened when Ambassador Alfonso T.
In 1973, Chairman Yuchengco deemed it crucial to invite two international banks to raise the level of banking expertise of RCBC in trade financing, international banking, credit control, and systems and procedure to global standards. These were the Continental Illinois National Bank and Trust Co. The period marked the rapid branch expansion for the Bank. While most of its peers were establishing branches within Metro Manila, RCBC pursued branch expansion in key growth areas like the export processing zones. This enabled the bank to tap and forge long-term relationships with the foreign locators especially those in the semiconductor industry.
Anticipating bigger things to come, RCBC successfully listed its shares in the Philippine Stock Exchange in 1986. The following year, RCBC diversified into the retail market with the introduction of private banking, home mortgage, car financing and the RCBC Credit Card. The establishment of the RCBC’s thrift bank arm – the RCBC Savings Bank in 1996 was an indication of RCBC’s strategic thrust of becoming a major player in the retail market. Bankard, a major player in the credit card business in mid-2000. 1995 and affiliations with offshore banks and money transfer agencies, stabilized the position of RCBC in the remittance business. On top of a banking business, the bank has equity holdings in companies engaged in power generation, automotive assembly, thrift banking, food manufacturing, etc.