Classification of
Thrift Bank
according to its
Forms of
Organization
Thrift Banks are now classified
in four organizations
 Savings
and Mortgage Banks
 Private Development Banks
 Stock Saving and loan
associations
 Cooperative Rural Banks
Thrift Banks in the Philippines
Saving and Mortgage Bank

It is a any corporation organized for the
purpose of accumulating the savings of
depositors and investing them, together with
its capital, in readily marketable bonds and
debt securities; commercial papers and
account receivables; drafts, bill of exchange,
acceptances, or notes arising out of
commercial transactions. It is allowed to make
investment, grant loans, issue domestic Letter
of Credit dominated in the Philippine currency.
Private Development Bank
 It
is organized under the provision of R.A a
No. 4093. Batasang Pambansa Blg. 63
Section No. 1, amending Section No. 3,
states that a private development bank
shall exercise all the power and shall
assume all the obligations of Savings and
Mortgage bank as provided in the
General Banking Act.
The savings and loan
association

They are corporation engaged in the business of
accumulating the saving of its member
stockholders, and using such accumulations
together with its capital in the case of stock
corporation, for loans and/or investment in the
securities of productive enterprises or securities of
the Government or its political subdivision
instrumentalities or corporation.
Cooperative Rural Banks
 Banks
that are more popular in the rural
communities. Their role is to promote and
expand the rural economy in an orderly
and effective manner by providing the
people in the rural communities basic
financial services.
 REFERRENCE:
“Money, Credit and Banking in Philippines
Financial System” by Zacarias M. Ronquillo
Prepared By:


Group 3 ( Thrift Bank Group)
FINMGT1 MWF 12:00-1:OO
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Rafael, Crysta Del R.
Bartolome, Kimberly S.
Carranza, Christine Joy
Cordero, Catherine Ann
Caw-as, Kirsteen Jail
Cuyo, Kathleen
Dabu, Mylene
Porwelos, Irene
Del Rosario, Sheila
Dela Cruz, Ma. Isabel
Gamayon, Kenneth Joy
Andaya, Gene
Bilog, Juvilyn
Diaz, Kirt Michael