Yep, so many Filipinos don't save their hard earned money in the bank, why because the dividend is too small that they'd rather just put it their safety locks at home. Also there are other ways to get a higher dividends thru saving accounts like the state owned PAGIBIG MP2 - this is what I did actually rather than putting it in a bank.
I agree. Also Cooperatives have higher dividends. So there are actually several competitors in the banking industry. Not just the bank entities themselves.
not only that if you died, heirs will have hard time getting their loved ones money in traditional bank, plus the 6% estate tax from it. so some people chose to save cash readily accessible than in banks.
BDO needs to fix their customer support service queue time it can take minimum an hour that you will memorize Pia's line because of it. BDO is overated
because there are so many banks in the Philippines compared to Malaysia or Singapore, the banking assets and revenues are distributed to hundreds of banks, thus it appears that BDO is quite small to DBS and Malayan Bank. but if you added all these assets and revenues of the Philippine Banking System against that of Malaysian and Singapore, I believe the gap is not that significant.
Also most of Philippines neighbors have a monarchy type system of ownership. Their bank systems are easier to centralize since its one group of people making the decision. Philippines has an oligarchy system where the participants have to engage each other in their limited competition without having to destroy each other which makes the assets and investments more spread out.
@@rl8571 nope... All PH banks combined is no match to other ASEAN big banks. Its not a matter of being spread out. PH economy is just so small and bad, that is not capable of generating a lot of wealth for most people.
Ang boss ko marami silang kumpanya dito sa philippines, pero ang pera nila di nila nilalagay sa banko lahat kundi nasa mga proprty. Lalo na sa lupa and buildings, naglalagay lang sila ng pera kapag bayaran na ng mga bills. May pera sila sa banko pero di gaano kalaki, kasi maliit lang ang kinikita. Di gaya ng sa proprty mo iallagay triple o mas mataas pa ang kinita sa pera nila.
WRONG!!! Don't just compare the top banks; talk about the size of the country's bank assets. FYI: In Malaysia, there are 22 commercial banks, while in the Philippines, there are 45 commercial banks. There are just 4 or 5 Big banks in MY but the rest are completely SMALL. The overall assets in Malaysia amount to 355 billion USD, while in the Philippines, it is 411 billion USD.
The Philippines has a stable banking system now. It has grown from the turmoil of its colonial past and turbulent history. With its strong work force and given a chance for a reliable and stable government, our banking could transcend other banks. It was not affected by the last western recession in 2008 -2016. We even lent money to some cash strapped European countries through The World Bank.
PH PRIDE AGAIN. WHAT U MEAN NOT AFFECTED ? U DUMB? we were affected, it was only saved because of additional taxes and vat imposed. also, because of BPO boomed during those period. without BPO workforce PH economy is doom.
As a Filipino, the main problem really is poverty. There's still a lot of Filipinos who are not given the opportunity to work because sometimes companies standardize very high qualifications. So as long as the poverty is high, people won't be able to put something in the bank. The other problem is that, most Filipinos think only about the short-term. It would be a "waste" if you put your money in the bank when you could just keep it and spend it whenever you want to. Another problem related to short-term, is that some Filipinos want low risk high rewards. They choose to put their money on something they think has low risk but has high returns. That is why there are tons of scams here in the Philippines. We can blame the government all we want, but in reality, we (Filipinos) are also part of the problem. The Philippines has a lot of potential, but because of greed, hunger for power, and that Pinoy crab mentality and pride, it will struggle to compete with other ASEAN Countries.
You talk too much with the lack of understanding, are you blaming the people for the corrupted's own mess? Is it because you are part of the corrupted government yourself? Are you one of the scamming BIR staffs that steals more money from the payers so you can have more extra in your pocket even thou it leads to making the payers bankrupt and poor that they can't even pay for their children's food and medication? Shame on you 😡
daming pinoy tinamaan sa comment mo hahhahaha pero that's quite true at some point especially with the low rate and interest that the banks here in Philippines provide. What I have in mind is that learning the stock market should have been a part of the curriculum in college as the public can freely scrape money and oppurtunity though quite high at risk yet trends had showed on multiple reports that countries with higher adult populations who participate in stock trading are also the countries with higher purchasing parity and general economic performance. Just my thoughts but you can read the research on Times Magazine report
What are you talking about? I literally opened a no-maintaining balance account in Unionbank using a single ID and a smartphone. Done in 10 minutes. The same was the case with GoTyme. I even got a debit card for free! If the entire nation has the ability to spend time watching Toni Fowler gyrate on TH-cam, they certainly have the ability to open a simple bank account. You're barking at the wrong tree. Filipinos just don't put enough emphasis in Financial Literacy. They'd rather spend time gossiping about celebrity breakups.
To open bank account now, need Payrol and employment contract in some banks,, the self employed individuals like street food seller cant open bank account but they earned money daily
As long as we still tolerate the so called " Toxic Filipino Utang Habit " we are just adding salt to the wounds. Must also include that there are still Filipinos are not educated well enough about Financial Management. 🤷
This is very educational indeed. But with all that in mind, doesn't matter if in what ASEAN country you belong. These banks are all the same - same level of hypocrisy. Those tycoons only cares about their wealth. No more, no less. It's all about capitalism leading to socialism.
The banks in the Philippines will not lend to anyone over 65 years old, no matter what their income level. Most senior citizens I know who are over 65 with incomes of over Php500K monthly or Php 6M a year have to borrow from international banks. Mostly Taiwan, the UK, and the USA. The banks here are losing out on a large sector of a huge market. Even many permanent residents with huge incomes must borrow money for large purchases from their home country. I for one had to take out a mortgage on my income properties in the US to build my house on my leased land because foreigners are not allowed to own Philippine property. This is why most of these large income Expats are buying in Japan, Thailand, Malaysia, and Singapore. I am planning to do the same in a year or two.
No matter how big BDO gets, their mobile app and website remains shit as hell. All that revenue growth and assets but can’t invest to improve and modernize their app and website.
The top 5% wealthy (who owns most of the country) of the Phils put their money in offshore accounts. So what you see in Phil banks is just the fraction of Filipino wealth
It's not actually fair for the Philippines to be compared to other countries because the Philippines is unique, in that the Philippines is RESTRICTIVE TO FDIs, too restrictive in fact that restrictions are HARDCODED IN ITS CONSTITUTION. That's precisely why the Philippines' economy is still smaller than its peers as it was pointed out in this video -- because other countries are simply not that restrictive to FDIs, if at all -- at least, restrictions to FDIs are NOT hardcoded in their respective constitutions. Now, what do FDIs have to do with economic growth then, you might ask? Simple -- the more multinational companies that enter the market -- the more employment they will generate, and the more people that are employed, then there are more people who will have income, and the more people that have income, the more they are financially empowered to have disposable income, and the more that they will have the money to invest in many things -- ONE OF WHICH IS IN BANKS. That's how FDIs help a country grow its economy. FDIs that the Philippines don't have much of, thanks to restrictions being hardcoded in its Constitution.
as a filo, we grew up not trusting banks at all. we cash out almost everything once the payday comes but i agree on gcash and paymaya, we use it more today for almost everything without realizing its also a bank 🤣
Gcash isn't technically a bank. They only partner with other digital banks like Uno, Cimb, Maybank and BPI. Nevertheless, I do get your point. They almost act like a bank.
The banks here suck. Getting a refund from a cancelled transaction takes ages to come. Meanwhile they charge you for just about any service, even for over the counter withdrawal! These days I just immediately cash in my pay check. The interest is useless anyway
Just redo this video in ten years and you’ll see a lot of reversals in economic and banking results. Today’s stagnating giants are tomorrow’s midgets while the Philippines will double by then and continue to grow beyond that.
@@42kallday90 as a nation who grew up watching telenovelas and dramas, they have grown to be EXTREMELY emotional. A typical Filipino can't differentiate between constructive criticism and an insult.. Everything negative taken as an insult. Hence, the whole country being one big butthurt nation.
@@jaames Did I not tell you to stop posting your nonsensical comments! The trouble with you people is that you are incorrigible! And no, it does not hurt! Your ego is the one that’s hurting, because your ignorant comments have been exposed for what they are!
Yes Philippine bank is small compared to other countries. Philippines need to grow like what its doing now for a couple o decade and it will become a powerhouse too.
Philippine banks are horrible with huge high interest rates and no basis for credit except your monthly income. An auto loan will have you on 25-37% interest.
Thats why the car and housing foreclosure is very high in the Philippines, which is highly favourable to the bank as they will just claim this as bad debts and offset against their income, thus they pay lesser income tax or nothing at all. And they will loan again these foreclosed assets to poor consumers with higher interest with the expectation that borrowers will become delinquent again…..a very lucrative business where they only pay their depositors with peanut interests for their money. Thus BSP should look into this unfathomable interest rates being passed by the banks to borrowers. 😡😡😡
Credit basis - we already have the Credit Information Corporation since 2018 that has Transunion one of the many data sources. Arguably, it has been very easy to gain credit nowadays as almost, if not all local banks utilize those reports in their decision making. I will have to agree with the auto loans, though.
How come BPI didn't explain? Are you only promoting the BDO? BANKO PILIPINO or BPI is owned by Government which has a role to balance the Money flows and will not abuse by private Companies like BDO which can cover a large portion of ownership in the Government which is a Oligarch power. If those companies will run the Philippines then they can control the People and the price tag of stocks price. That's why there is BPI to secure the government and it's people's lives and safety. It's not all about how many banks or money you have. It's about the government public services and restrain corruption and abusive oligarch ownerships in the Government officials. How many banks you have if those banks owned by private companies then there is not protection for it's citizens security against price, services, public laws as so on. Wake up
One major problem: banks in the Philippines charge a negative interest rate. If there is no movement in your bank account for one year, then the banks charge you a "dormancy fee" which means they take away money from your account. This is a stupid idea because Filipinos think of banks as a way to save for a rainy day rather than as an investment. Putting your money in a bank and letting the banks use it productively by not touching it means you get penalized instead of being rewarded. That is why wise Filipinos would rather keep their money in cash under their bed, buy land with it, or open a small business rather than save it in a bank which penalizes you for letting them keep your money for long. Unless laws are changed to encourage Filipinos to save their cash in banks rather than under their bed where they are safer (for various definitions of "safe") the banking industry in the Philippines will remain smaller than those of their neighbors.
Philiippones have 43 major bank and theiir branch scatteeing in the ph with 43 trift bank also scatter in ph witg 300 plus rural bank with branches also and land bank and development are the government bank with so many branch also
Some people in the Philippines wasn't interested in Banks because of low P.A, they are interested in KAPA because it will double their investment within a month and they got scammed lol. The problem of the Philippines is not the government but it the people attitudes, they want instant money.
Ang 3 bangko kc na yan inakay ng mga aarte sangkaterbang id ang requirements may salita ka pang maririnig na wala ka naman pala trabaho bat ka mag babangko hindi pa naman nila nalalaman kung saan at paano magkaka pera un tao syempre napahiya na un tao at nasaktan un ang itsitsismis nya sa mga tao kaya d na rin magbabangko un mga tao na nakaalam sa dinanas nya
Malaysia is not small country, in fact thier land area are more bigger than philippines. The difference is thier population are 3x lower than philippines
In terms of total assets, Vietcombank is only ranked 4th in Vietnam after BIDV, Agribank and Vietinbank. Vietcombank is just the largest bank on the stock exchange.
What matters is with bank or no bank you pray to jesus cause wealth will not bring you to heaven, all material things on earth will still be left behind
Believe it or not, the Philippine banking system is very stable. The country's Central Bank is one of the best in the world, when recession hit, the Philippines managed to be fiscally stable and the Central Bank helped avoid the recession implications to deepen. Lastly it's a miracle how the said agency managed to keep inflation from going out of control due to fiscal mismanagement by the government. Lol.
BDO is the shittiest bank in the PH, their ATMs are very slow and unintuitive and OLD. their Customer service will have you 2-3 hours on queue, then disconnects you. BDO is SHITTY GREEDY BANK.
Very true, that a lot of the Pilipino have no bank accounts yet. Philippines had over three decades of set backs since PFEM was betrayed. So here’s our chance again, this time God willing na protectahan ang mahal na PBBM, sa mga kung anoman na mga plano ng mga oposisyon etc . 🙏🙏🙏❤️❤️❤️
Can the Philippines become a financial powerhouse in the future? Let us know down below!
No
No it cannot
ayo what's that background music y'all are using at 1:20 mark? I thought it was from persona but maybe not. Anyone know?
Are you dreaming?
@@user-sq2no7gr8b why not?
Yep, so many Filipinos don't save their hard earned money in the bank, why because the dividend is too small that they'd rather just put it their safety locks at home. Also there are other ways to get a higher dividends thru saving accounts like the state owned PAGIBIG MP2 - this is what I did actually rather than putting it in a bank.
I agree. Also Cooperatives have higher dividends. So there are actually several competitors in the banking industry. Not just the bank entities themselves.
❤
not only that if you died, heirs will have hard time getting their loved ones money in traditional bank, plus the 6% estate tax from it. so some people chose to save cash readily accessible than in banks.
BDO is expanding at a faster rate compared to other, BPI and Metrobank. In fact, these 2 banks are older than BDO.
Id still trust BPI and PNB
BDO has a reputation that your money will vanished in sudden way. Their system can be hacked by someone in the inside.
Yet, their mobile app is still shit
BDO needs to fix their customer support service queue time it can take minimum an hour that you will memorize Pia's line because of it.
BDO is overated
@@Reaper06229 not fix but to add more employees under customer support service
because there are so many banks in the Philippines compared to Malaysia or Singapore, the banking assets and revenues are distributed to hundreds of banks, thus it appears that BDO is quite small to DBS and Malayan Bank. but if you added all these assets and revenues of the Philippine Banking System against that of Malaysian and Singapore, I believe the gap is not that significant.
Nope. Total combined assets of all Philippine banks only total to Php 25 trillion as of 2023.
@@cairoplaysgames did you even watch the video?
Also most of Philippines neighbors have a monarchy type system of ownership. Their bank systems are easier to centralize since its one group of people making the decision. Philippines has an oligarchy system where the participants have to engage each other in their limited competition without having to destroy each other which makes the assets and investments more spread out.
@@rl8571 nope... All PH banks combined is no match to other ASEAN big banks.
Its not a matter of being spread out. PH economy is just so small and bad, that is not capable of generating a lot of wealth for most people.
@@SheelByTorn Did you?
Banking is booming in Philipines. most of the financials that exited from Shanghai are now based in Philipines.🤷
The Philippines buddy The Philippines
Data please😢😢😢
Ang boss ko marami silang kumpanya dito sa philippines, pero ang pera nila di nila nilalagay sa banko lahat kundi nasa mga proprty. Lalo na sa lupa and buildings, naglalagay lang sila ng pera kapag bayaran na ng mga bills. May pera sila sa banko pero di gaano kalaki, kasi maliit lang ang kinikita. Di gaya ng sa proprty mo iallagay triple o mas mataas pa ang kinita sa pera nila.
WRONG!!!
Don't just compare the top banks; talk about the size of the country's bank assets. FYI: In Malaysia, there are 22 commercial banks, while in the Philippines, there are 45 commercial banks. There are just 4 or 5 Big banks in MY but the rest are completely SMALL. The overall assets in Malaysia amount to 355 billion USD, while in the Philippines, it is 411 billion USD.
correct
The Philippines has a population of more than 100 million, Malaysia has less than 30 million.
We are talking about Bank assets not population 😂
@@therealreview47 Population also contribute to the bank asset.
@@therealreview47 oke...so try compare with indonesia.,
The Philippines has a stable banking system now. It has grown from the turmoil of its colonial past and turbulent history. With its strong work force and given a chance for a reliable and stable government, our banking could transcend other banks. It was not affected by the last western recession in 2008 -2016. We even lent money to some cash strapped European countries through The World Bank.
PH PRIDE AGAIN. WHAT U MEAN NOT AFFECTED ? U DUMB? we were affected, it was only saved because of additional taxes and vat imposed. also, because of BPO boomed during those period. without BPO workforce PH economy is doom.
As a Filipino, the main problem really is poverty. There's still a lot of Filipinos who are not given the opportunity to work because sometimes companies standardize very high qualifications. So as long as the poverty is high, people won't be able to put something in the bank.
The other problem is that, most Filipinos think only about the short-term. It would be a "waste" if you put your money in the bank when you could just keep it and spend it whenever you want to.
Another problem related to short-term, is that some Filipinos want low risk high rewards. They choose to put their money on something they think has low risk but has high returns. That is why there are tons of scams here in the Philippines.
We can blame the government all we want, but in reality, we (Filipinos) are also part of the problem.
The Philippines has a lot of potential, but because of greed, hunger for power, and that Pinoy crab mentality and pride, it will struggle to compete with other ASEAN Countries.
not quite correct
Not quite correct
Not quite correct
You talk too much with the lack of understanding, are you blaming the people for the corrupted's own mess?
Is it because you are part of the corrupted government yourself?
Are you one of the scamming BIR staffs that steals more money from the payers so you can have more extra in your pocket even thou it leads to making the payers bankrupt and poor that they can't even pay for their children's food and medication? Shame on you 😡
daming pinoy tinamaan sa comment mo hahhahaha pero that's quite true at some point especially with the low rate and interest that the banks here in Philippines provide.
What I have in mind is that learning the stock market should have been a part of the curriculum in college as the public can freely scrape money and oppurtunity though quite high at risk yet trends had showed on multiple reports that countries with higher adult populations who participate in stock trading are also the countries with higher purchasing parity and general economic performance. Just my thoughts but you can read the research on Times Magazine report
Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊
How can all people in philippines access the bank with stupid many requirement and high minimum deposits
What are you talking about? I literally opened a no-maintaining balance account in Unionbank using a single ID and a smartphone. Done in 10 minutes. The same was the case with GoTyme. I even got a debit card for free! If the entire nation has the ability to spend time watching Toni Fowler gyrate on TH-cam, they certainly have the ability to open a simple bank account. You're barking at the wrong tree. Filipinos just don't put enough emphasis in Financial Literacy. They'd rather spend time gossiping about celebrity breakups.
Its very easy for the middle class and up, which is also where 90% of philippines wealth is.
To open bank account now, need Payrol and employment contract in some banks,, the self employed individuals like street food seller cant open bank account but they earned money daily
My 100 pesos and 1 id lang po if mag open ng account. No maintaining balance. Basic Deposit for low income earners
Why is most pinoy wealthiest trusted bpi the most for their savings?😅
BDO seems to be the most prone to hacks and stealing in any way. Not sure though
But in reality the Philippine bank has the more safe and trusted bank in Asia..
Insured lang ng 500k kya much better mdami kng bank account pg mdami kng pera.
@@bluewolf4789ganyan rin nman sa ibang Bansa. Hindi Pinoy Ang nauna nyan
@@bluewolf4789 iba talaga pinas may w.bank may asian development bank.kahit ilang trillions iloan barya lang yan haha
cool! :)
tell that to our slumping credit rating🥴
The major banks keep reporting record profits every year. Even while some businesses are down.
Your ranking is not updated , as of December 2023, LandBank of the Philippines is the second largest bank in the Philippines
Nice content and infromation....from Thailand 😉👍
As long as we still tolerate the so called " Toxic Filipino Utang Habit " we are just adding salt to the wounds. Must also include that there are still Filipinos are not educated well enough about Financial Management. 🤷
This is very educational indeed. But with all that in mind, doesn't matter if in what ASEAN country you belong. These banks are all the same - same level of hypocrisy. Those tycoons only cares about their wealth. No more, no less. It's all about capitalism leading to socialism.
The banks in the Philippines will not lend to anyone over 65 years old, no matter what their income level. Most senior citizens I know who are over 65 with incomes of over Php500K monthly or Php 6M a year have to borrow from international banks. Mostly Taiwan, the UK, and the USA. The banks here are losing out on a large sector of a huge market. Even many permanent residents with huge incomes must borrow money for large purchases from their home country. I for one had to take out a mortgage on my income properties in the US to build my house on my leased land because foreigners are not allowed to own Philippine property. This is why most of these large income Expats are buying in Japan, Thailand, Malaysia, and Singapore. I am planning to do the same in a year or two.
In my fictional world, this bank is one of the largest banks in the world
it probably has alot less debt than the largest ones in the world, and it is "one of them"
We are the light of the world and hope of all nation.😊
No matter how big BDO gets, their mobile app and website remains shit as hell. All that revenue growth and assets but can’t invest to improve and modernize their app and website.
Presentation for purposes of comparison should have been in column. Side hy side.
Very informative and thank you. ☺
The top 5% wealthy (who owns most of the country) of the Phils put their money in offshore accounts. So what you see in Phil banks is just the fraction of Filipino wealth
It's not actually fair for the Philippines to be compared to other countries because the Philippines is unique, in that the Philippines is RESTRICTIVE TO FDIs, too restrictive in fact that restrictions are HARDCODED IN ITS CONSTITUTION.
That's precisely why the Philippines' economy is still smaller than its peers as it was pointed out in this video -- because other countries are simply not that restrictive to FDIs, if at all -- at least, restrictions to FDIs are NOT hardcoded in their respective constitutions.
Now, what do FDIs have to do with economic growth then, you might ask?
Simple -- the more multinational companies that enter the market -- the more employment they will generate, and the more people that are employed, then there are more people who will have income, and the more people that have income, the more they are financially empowered to have disposable income, and the more that they will have the money to invest in many things -- ONE OF WHICH IS IN BANKS.
That's how FDIs help a country grow its economy.
FDIs that the Philippines don't have much of, thanks to restrictions being hardcoded in its Constitution.
🎯
as a filo, we grew up not trusting banks at all. we cash out almost everything once the payday comes
but i agree on gcash and paymaya, we use it more today for almost everything without realizing its also a bank 🤣
More like Pinoys lack financial education.
Because most filipinos have a lack of financial education compared to southeast asian neighbors like Singapore and Malaysia.
Gcash isn't technically a bank. They only partner with other digital banks like Uno, Cimb, Maybank and BPI. Nevertheless, I do get your point. They almost act like a bank.
The banks here suck. Getting a refund from a cancelled transaction takes ages to come. Meanwhile they charge you for just about any service, even for over the counter withdrawal! These days I just immediately cash in my pay check. The interest is useless anyway
Just redo this video in ten years and you’ll see a lot of reversals in economic and banking results. Today’s stagnating giants are tomorrow’s midgets while the Philippines will double by then and continue to grow beyond that.
Why Filipinos are so defensive and always wants Pinoy bait videos?
@@42kallday90 as a nation who grew up watching telenovelas and dramas, they have grown to be EXTREMELY emotional. A typical Filipino can't differentiate between constructive criticism and an insult.. Everything negative taken as an insult. Hence, the whole country being one big butthurt nation.
@@jaamesYou talk pure nonsense! Stop wasting our time with your asinine comments.
@@LantangKaturay why? Does it hurt? :)
@@jaames Did I not tell you to stop posting your nonsensical comments! The trouble with you people is that you are incorrigible! And no, it does not hurt! Your ego is the one that’s hurting, because your ignorant comments have been exposed for what they are!
filopino citizen doesnt like many people know abput their money thats why most of them dony have a bank account
Its called poverty. Esp in squatters area
Not necessarily, its mostly because most Filipinos don't really trust banks and they prefer Coldplay hard Cash that they can physically touch.
@bluewolf only idiot like use bank.
Bank is not your friend unless that bank is like Russian or Chinese Bank and Indian Bank.
Lack of financial education meaning to say walang alam sa pera puro gastos ang nasa utak lalo na sa sahod
being big doesnt mean healthy banking..
Ha ha ha before watching the video, I read comments first, sometimes comments made me not to continue to watch. ✌️
Philippines will be strong economy in future
Can't be controlled by central bank...through digitalisation
ayo what's that background music they are using at 1:20 mark? I thought it was from persona but maybe not. Anyone know?
Tutulungan kita - Roel Cortez
@@spongibong4352 bobo
Yes Philippine bank is small compared to other countries. Philippines need to grow like what its doing now for a couple o decade and it will become a powerhouse too.
Most banks in Philippines are sharks and have this ridiculous policies 😢
I have heard this 1 rule from a comment. If you haven't deposited your money for a year, all of your savings will get taken away.
I want to edit my videos just like yours but it's hard😵💫
They have a team. It is not only one person.
Most people don't give a shit how large banks is, they care about how secure and good it is
The top 3 of the ph banks that dominate savings loans and deposits are bdo bpi and metro bank.
Does the list includes online bank only?
Philippine banks are horrible with huge high interest rates and no basis for credit except your monthly income. An auto loan will have you on 25-37% interest.
Thats why the car and housing foreclosure is very high in the Philippines, which is highly favourable to the bank as they will just claim this as bad debts and offset against their income, thus they pay lesser income tax or nothing at all. And they will loan again these foreclosed assets to poor consumers with higher interest with the expectation that borrowers will become delinquent again…..a very lucrative business where they only pay their depositors with peanut interests for their money. Thus BSP should look into this unfathomable interest rates being passed by the banks to borrowers. 😡😡😡
@@andoxcv it's so easy for people to loan but the interest rates are so high.
@@andoxcvkasi nga po may nanalaytay ba dugong intsik sa mga yan😂😂😂😂😂
Credit basis - we already have the Credit Information Corporation since 2018 that has Transunion one of the many data sources. Arguably, it has been very easy to gain credit nowadays as almost, if not all local banks utilize those reports in their decision making. I will have to agree with the auto loans, though.
not correct
How come BPI didn't explain? Are you only promoting the BDO? BANKO PILIPINO or BPI is owned by Government which has a role to balance the Money flows and will not abuse by private Companies like BDO which can cover a large portion of ownership in the Government which is a Oligarch power. If those companies will run the Philippines then they can control the People and the price tag of stocks price. That's why there is BPI to secure the government and it's people's lives and safety. It's not all about how many banks or money you have. It's about the government public services and restrain corruption and abusive oligarch ownerships in the Government officials. How many banks you have if those banks owned by private companies then there is not protection for it's citizens security against price, services, public laws as so on. Wake up
One major problem: banks in the Philippines charge a negative interest rate. If there is no movement in your bank account for one year, then the banks charge you a "dormancy fee" which means they take away money from your account. This is a stupid idea because Filipinos think of banks as a way to save for a rainy day rather than as an investment. Putting your money in a bank and letting the banks use it productively by not touching it means you get penalized instead of being rewarded. That is why wise Filipinos would rather keep their money in cash under their bed, buy land with it, or open a small business rather than save it in a bank which penalizes you for letting them keep your money for long.
Unless laws are changed to encourage Filipinos to save their cash in banks rather than under their bed where they are safer (for various definitions of "safe") the banking industry in the Philippines will remain smaller than those of their neighbors.
Sarado maybank dito sa tacloban...😅😅😅😅
The owner of BDO is not Filipino blood, but chinese. Oh shit!!!!!!
why this is so negative? Ph is now the highest growing country in asean.
We are not ready for digital banks , we keep getting cyber hacked a lot and its really annoying 😓
BDO
LandBank-Govt owned
BPI
Metrobank
These are the top 4 banks
Considering all of the untapped sh1t there, they will be one without question.
Biggest bank ??? In ph ?? On paper
This report in incomplete and confusing.
Philiippones have 43 major bank and theiir branch scatteeing in the ph with 43 trift bank also scatter in ph witg 300 plus rural bank with branches also and land bank and development are the government bank with so many branch also
So many twigs😂😂😂😂😂😂
@@bluewolf4789 Crackhead
Better encourage Small Businesses by Finance.
😮😮😮 Congrats..
Some people in the Philippines wasn't interested in Banks because of low P.A, they are interested in KAPA because it will double their investment within a month and they got scammed lol. The problem of the Philippines is not the government but it the people attitudes, they want instant money.
How about ADB of the Philippines?
Ang 3 bangko kc na yan inakay ng mga aarte sangkaterbang id ang requirements may salita ka pang maririnig na wala ka naman pala trabaho bat ka mag babangko hindi pa naman nila nalalaman kung saan at paano magkaka pera un tao syempre napahiya na un tao at nasaktan un ang itsitsismis nya sa mga tao kaya d na rin magbabangko un mga tao na nakaalam sa dinanas nya
The Philippines ATM machine charges for a foreign debit card is the highest in the world! Monopoly is a game in the country!!
I save n the bank half and half is cash to invest...
BDO needs to upgrade!
Why does this video look like ASEAN Bank commercials?
Landbank is the second biggest bro.
Landbank is the 2nd largest bank in the Philippines
When it comes to mobile banking, I prefer BPI than BDO. BDO sucks.
How bout bank central asia?
7:34 36Million
You forget the landbank of the phillipines..
We have the best Central Bank Governor in the world, Sec. DIOKNO.
Malaysia, smaller country? 🤔
Malaysia is not small country, in fact thier land area are more bigger than philippines. The difference is thier population are 3x lower than philippines
that's right
Lol
In terms of total assets, Vietcombank is only ranked 4th in Vietnam after BIDV, Agribank and Vietinbank. Vietcombank is just the largest bank on the stock exchange.
What matters is with bank or no bank you pray to jesus cause wealth will not bring you to heaven, all material things on earth will still be left behind
I hate BDO. App is too slow and old and fees are expensive compared to other banks
Is just some filipinos doesnt trust their money in banks
Estou pressionando de um depósito em minha conta ok Alessandro Henrique
Believe it or not, the Philippine banking system is very stable. The country's Central Bank is one of the best in the world, when recession hit, the Philippines managed to be fiscally stable and the Central Bank helped avoid the recession implications to deepen. Lastly it's a miracle how the said agency managed to keep inflation from going out of control due to fiscal mismanagement by the government. Lol.
Mas maganda negosyo mo pera mo kesa lagay mo lang sa banko. Tagal pera ko sa metrobank halos walang tinubo.
BDO is Chinese owned bank. China Bank is also from China.
Tatang was born in China but their children are born and raised in the Philippines, and they all bear legal Filipino citizenship.
Chinabank is not even from China but founded by a Chinese that more loyal to Philippines.
BDO is the shittiest bank in the PH, their ATMs are very slow and unintuitive and OLD. their Customer service will have you 2-3 hours on queue, then disconnects you. BDO is SHITTY GREEDY BANK.
BDO bad service
fuck misinformation
Hedge fund stock manipulation
MAKE THE PHILIPPINES GREAT AGAIN 💖💖
The banks here are only so big because they are used to launder money by the major corporations such as SM, Ayala, San Miguel etc.
Puro intsik nmn may ari nyan
better than being owned by brownies skins
Fake news😂🤣😅
That country itself is a loser
Very true, that a lot of the Pilipino have no bank accounts yet. Philippines had over three decades of set backs since PFEM was betrayed. So here’s our chance again, this time God willing na protectahan ang mahal na PBBM, sa mga kung anoman na mga plano ng mga oposisyon etc . 🙏🙏🙏❤️❤️❤️
Lmao you mean the family that plundered our government coffers? Delulu much
Why you should not include the ADB it is base in the philipines as well
3 TRILLION PESOS ... ASSETS OF BDO ... IS NOT THEIRS ... THATS PEOPLE'S MONEY !
Philippine is not worried we have plenty of gold.
rich or beggars pilipinos who cares as long us we eat 3 times a day thats fine no need to compare to others we love the philippines
This channel is for entertainment purposes only.
Owned by Ayalas.... They're like a mafia