Personal Loans
An unsecured loan is a loan that is not backed by collateral. Also known as a signature loan or personal loan. Unsecured loans are based solely upon the borrower's credit rating. As a result, they are often much more difficult to get than a secured loan, which also factors in the borrower's income. An unsecured loan is considered much cheaper and carries less risk to the borrower. However, when an unsecured loan is granted, it does not necessarily have to be based on a credit score. For example, if your friend lends you money without any collateral, meaning something of worth that can be repossessed if the loan isn't repaid, then your credit score has zero to do with it, but rather the value of your friendship is at stake. Therefore the real meaning of an unsecured loan is that it is not backed by any object of value and is lent to you based on your good name. For financial institutional purposes, they may want to look at your credit score because they are not your friend and it is strictly a business transaction, therefore your good name may be associated with your historical payment history on prior debt, reflecting in your credit score.
As of 2010, Chinatrust Philippines' president is Mark Chen. Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.As of 2010, Chinatrust Philippines' president is Mark Chen. Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.Chinatrust Philippines Commercial Bank Corp. is a subsidiary of Chinatrust Commercial Bank Corp. of Taiwan. It is listed on thePhilippine Stock Exchange, but the majority of shares are held by Chinatrust Taiwan. In November 2000, Chinatrust Taiwan agreed to 63,526,127 shares of Chinatrust Philippines at P19 per share from a group of shareholders led by then-President William Go, increasing its shareholding from 57.5% to 91%.However, there was some uncertainty surrounding this transaction, as with a public float of less than 10% of shares outstanding, Chinatrust Philippines would have to be delisted.In the end, Chinatrust Philippines was able to remain listed by declaring its intention to issue more shares through a secondary market offering, and paying fines to the exchange in the meantime.As of 2010, Chinatrust Philippines' president is Mark Chen. Its 23 branches give it one of the most extensive branch networks among foreign-owned banks in the Philippines.It was established in 1966 under the name China Securities and Investment Corporation. In 1971, its name was changed to Chinatrust Investment Company Limited. In 1992, it was transformed into Chinatrust Commercial Bank.Up until 2009, the chairman of the company was Luo Lian-fu. He was succeeded in July 2009 by Michael (Mike) Bernard DeNoma, the first foreigner to take up the role.The bank has subsidiaries in the Philippines, the United States, Canada, and Indonesia, foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.
EastWest Bank is a subsidiary of the Filinvest Development Corporation (FDC), the publicly listed holding company of the Filinvest Group that evolved from a consumer business founded by Andrew L. Gotianun, Sr. in 1955. FDC is of the country’s premier conglomerates, with business interests in actual estate development, financial & banking services & the sugar business. Through the years, EastWest Bank has successfully capitalized on the financial strength & synergy from the business organizations under the Filinvest Group.Since its official birth on July 6, 1994, EastWest Bank has emerged as of the country’s quickest growing banks.Soon after it formally opened its doors to the public, EastWest Bank had envisioned itself to become the preferred consumer bank of professionals, entrepreneurs, abroad Filipino workers, & homeowners. To this finish, the Bank embarked on an automation program, & began to upgrade its existing expertise.As the Bank entered the new millennium, it laid the groundwork for implementation of measures that would simplify procedures & customer transactions & ultimately, lead to better banking experience for clients. It expanded its ATM network & later introduced Web Banking Facility, its online banking facility, to provide clients with more efficient delivery channels for products & services.
The latter part of the last decade proved to be an challenging & yet rewarding period for the Bank. EastWest, which was perceived to be of the “small players” in the industry in the early 2000s, became the sixth largest credit card issuer & the sixth largest service provider of auto financing when it acquired AIG PhilAm Savings Bank (AIGPASB) in 2009. AIGPASB officially merged with & in to EastWest Bank on September four, 2009. The merger was completed a few months after EastWest rivaled & won against “giant banks” & multinational companies in its bid for the AIG-owned thrift bank.At present, EastWest Bank has a total of 117 branches: 73 in Metro Manila & 40 in key provincial areas. To address the evolving needs of its middle market clients, the Bank continues to create innovative products & services & alternative delivery channels.Through the years, EastWest has remained to be a lovely corporate citizen through various community assistance programs. In the aftermath of typhoon Ondoy in October 2009, it donated Php16 million worth of textile items to water victims through the Educational Research & Development Assistance (ERDA) Foundation, Caritas Manila, & ABS-CBN Sagip Foundation.As now of the country’s quickest growing banks, the Bank is poised to maintain its growth momentum. Over the next years, EastWest will take concrete steps that are geared towards the fulfillment of its final aim of becoming a “world class bank anchored on service excellence”.
The latter part of the last decade proved to be an challenging & yet rewarding period for the Bank. EastWest, which was perceived to be of the “small players” in the industry in the early 2000s, became the sixth largest credit card issuer & the sixth largest service provider of auto financing when it acquired AIG PhilAm Savings Bank (AIGPASB) in 2009. AIGPASB officially merged with & in to EastWest Bank on September four, 2009. The merger was completed a few months after EastWest rivaled & won against “giant banks” & multinational companies in its bid for the AIG-owned thrift bank.At present, EastWest Bank has a total of 117 branches: 73 in Metro Manila & 40 in key provincial areas. To address the evolving needs of its middle market clients, the Bank continues to create innovative products & services & alternative delivery channels.Through the years, EastWest has remained to be a lovely corporate citizen through various community assistance programs. In the aftermath of typhoon Ondoy in October 2009, it donated Php16 million worth of textile items to water victims through the Educational Research & Development Assistance (ERDA) Foundation, Caritas Manila, & ABS-CBN Sagip Foundation.As now of the country’s quickest growing banks, the Bank is poised to maintain its growth momentum. Over the next years, EastWest will take concrete steps that are geared towards the fulfillment of its final aim of becoming a “world class bank anchored on service excellence”.
Equicom Savings Bank, Inc. is a duly licensed thrift bank majority owned and controlled by Equicom Group and Mr. Antonio L. Go. Mr. Go has an extensive banking track record, having been the former Chairman of Equitable PCI Bank. Mr. Go was also Founder and President of Equitable Card Network, which was established in 1989. It was the Philippines’ leading credit card company and also had the distinction of being the only card issuer which carried the four major global credit card brands – VISA, MasterCard, American Express and JCB. Mr. Go was a member of the Executive Committee of VISA International Worldwide, Chairman of VISA International Asia-Pacific from 1998-2005 and was a director since 1980.Mr. Go is the Chairman of the Equicom Savings Bank Board, while Mr. Rene J. Buenaventura, the former President & CEO of Equitable PCI Bank, is the Vice Chairman.
Currently, Equicom Savings Bank (EqB) has its main office branch in Makati and thirteen (13) other branches in Luzon, Visayas, and Mindanao. Within one (1) year from acquisition by the Equicom Group, the bank has achieved phenomenal growth from three (3) to fourteen (14) branches and is still growing. It has deployed ATMs in all its branches and selected offsite locations and has deployed a total of twenty-eight (28) ATMs within two (2) years from its acquisition. EqB cardholders can access over 9,000 ATMs nationwide through its network affiliation with BancNet, Megalink and Expressnet, and over one (1) million VISAPlus ATMs worldwide. EqB is continuously upgrading its logistics and support systems as it continues to widen its multi-service delivery channels, which now include E-Banking Services (Mobile and Internet banking), Cash Management Services (Deposit Pick-up Service, Payroll Service, and Check-writing Facility), Remittance Services, and acceptance of Bills Payment. The Bank sees rapid growth in the next five years, eventually becoming the preferred bank of SMEs (small and medium-sized enterprises) and consumers.
Currently, Equicom Savings Bank (EqB) has its main office branch in Makati and thirteen (13) other branches in Luzon, Visayas, and Mindanao. Within one (1) year from acquisition by the Equicom Group, the bank has achieved phenomenal growth from three (3) to fourteen (14) branches and is still growing. It has deployed ATMs in all its branches and selected offsite locations and has deployed a total of twenty-eight (28) ATMs within two (2) years from its acquisition. EqB cardholders can access over 9,000 ATMs nationwide through its network affiliation with BancNet, Megalink and Expressnet, and over one (1) million VISAPlus ATMs worldwide. EqB is continuously upgrading its logistics and support systems as it continues to widen its multi-service delivery channels, which now include E-Banking Services (Mobile and Internet banking), Cash Management Services (Deposit Pick-up Service, Payroll Service, and Check-writing Facility), Remittance Services, and acceptance of Bills Payment. The Bank sees rapid growth in the next five years, eventually becoming the preferred bank of SMEs (small and medium-sized enterprises) and consumers.
Planters Development Bank (Plantersbank) is a privately-owned and managed bank with a complete range of commercial banking products and services especially geared towards promoting the interest of Small and Medium Enterprises (SMEs).
For the past four decades, Plantersbank has devoted its organization and resources to the service of the Filipino entrepreneur and will continue to champion the cause of SMEs by bringing to them the resources needed in this period of accelerated change and global competition.
For the past four decades, Plantersbank has devoted its organization and resources to the service of the Filipino entrepreneur and will continue to champion the cause of SMEs by bringing to them the resources needed in this period of accelerated change and global competition.
Security Bank Savings Corporation (SBS), formerly Premiere Development Bank is a subsidiary of Security Bank Corporation (SBC), one of the Philippines’ top universal banks. The savings bank was formally acquired on 01 February 2012, and is an integral part of Security Bank’s strategic move to increase its customer base and expand its market reach. Obtaining the savings bank allows Security Bank to continuously build its growing network of branches nationwide and offer a wider range of banking products and services to serve the needs of the consumer finance, middle, and small and mid-sized market segments.Established in July 16, 1960 as a development bank, Security Bank Savings, now operates as a thrift bank and has 38 branches located in Metro Manila and the CALABARZON area. With its core values strongly grounded on superior customer service, the bank shall continue to anchor its business on building customers' trust as a catalyst for growth.As it assumes a new corporate identity, Security Bank Savings has become a part of the stronger bank franchise that lends its financial strength, management efficiency and professional expertise for the benefit of its valued customers.Security Bank Corporation is recognized as a leader in the banking industry with a history of banking excellence that spans over 60 years. The bank was recently ranked by Asian Banker 500 as the top bank with the highest return on assets in the Asia Pacific region, as well as third strongest in the Philippines.
Sterling Bank of Asia is a new savings bank established in February, 2007 in response to the government's mandate to create specialized financial institutions that would support the development and growth of the small and medium enterprise sector.Sterling Bank of Asia is principally owned by the JTKC Group of Companies, Surewell Equities, and Star Equities. JTKC Group of Companies and Star Equities are involved in a wide range of industries, ranging from logistics to finance, real estate, manufacturing, hotel and resort properties. Some of these companies include I-Remit Inc., TKC Steel Corp., Discovery Leisure Company (Discovery Suites, Discovery Country Suites-Tagaytay and Discovery Shores-Boracay), The Mansion Group (Amorsolo Mansion, Gilarmi Apartments, Mabini Mansion, Boulevard Mansion), JTKC Land, Discovery Primea, and Kent Vinyl Tiles. Surewell Equities, on the other hand, is a holding company engaged in various interests, among which are, Confed Properties, Inc., I-Remit Inc., Flexi-Woods, Inc., Banwood Construction Center and Six Alps Corp.Sterling Bank's value proposition is to offer world-class and professional level of service by creating a strong sales culture and customer orientation. In all its business lines, Sterling Bank aims to customize solutions and execute these with the highest service levels.Given the intense competition in the industry and the growing demands of customers, Sterling Bank envisions itself to be the preferred bank of professionals, entrepreneurs, OFWs, and corporations for ultimate banking experience, by providing them with integrated and innovative products at the best value and efficient service.Sterling Bank offers a unique brand of service to its customers - "professional banking with a heart" - as depicted by the Bank's heart-shaped logo. It is thus a financial institution that one can trust with genuine concern for its customers.As Sterling Bank ventures on an extensive expansion program in Metro Manila and key provincial cities, it will embark on developing innovative products that offer optimum yield and convenience for its market.
Bank of Commerce has announced the entry of its new strategic shareholders, the CIMB Group, subject to approval from both Malaysian and Philippine regulators. The sale Purchase Agreement for the acquisition of 58% of Bank of Commerce was signed last 08 May 2012, by the CIMB Bank and San Miguel Properties Inc., the San Miguel Retirement Plan, Q Tech Alliance Holdings, Inc. and various minority shareholders. San Miguel Corporation Retirement Plan will remain the largest minority shareholder at 27%. The CIMB Group's entry is expected to lead the Bank to a higher level of competence, elevating the Bank to world class status with access to new and innovative technology. It will likewise create synergies that will usher in a different and better brand of quality service to its customers.Bank of Commerce is the country's 16th largest bank in terms of assets, with a reported net income of P579 Million for the year 2011. Bank of Commerce serves individual consumers, small- and middle-market businesses and large corporations with a wide range of banking and other financial products and services including traditional deposit products, payroll services, corporate banking, consumer banking, treasury, asset management, trust services, trade and credit card services. The bank provides service through its 122 branches and 300 ATMs nationwide.CIMB Group is Malaysia's second largest financial services provider and one of ASEAN's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in eight out of 10 ASEAN nations (Malaysia, Indonesia, Thailand, Singapore, Cambodia, Brunei, Vietnam and Myanmar). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, the US and UK. With the largest branch network in ASEAN of 1,117 branches as of 31 December 2011, the bank is helmed by people from the region. The Group has over 40,000 employees located in 14 countries. Their entry into Bank of Commerce will expand its presence in the ASEAN.