B.8 NUMBER OF FINANCIAL INSTITUTIONS 1 by Type of Bank, Year and Quarter

Footnotes

Number of financial institutions refer to the number of financial establishments which includes the head offices and branches; excludes the Bangko Sentral ng Pilipinas

Head offices Includes Offshore Banking Units (OBUs)

Non banks Include Investment Houses, Finance Companies, Investment Companies, Securities Dealers/Brokers,
Pawnshops, Lending Investors, Non-Stock Savings and Loan Associations, Electronic Money Issuer, Remittance Agent, Credit Granting Entities, and Credit Card Companies (under BSP supervision).
Companies cover only the head office and their foreign branches.

Other institutions include government Insurance Companies (i.e., SSS and GSIS). Private Insurance Companies only cover the head offices and their foreign branches.

Starting December 2009, data include other banking offices per Circular Nos. 505 and 624 dated
22 December 2005 and 13 October 2008, respectively. Other banking offices refer to any office or place
of business in the Philippines other than the head office, branch or extension office, which primarily
engages in banking activities other than the acceptance of deposits and/or servicing of withdrawals thru
tellers or other authorized personnel. In 2017, per Circular 987 dated 28 December 2017, the term 'Other
banking units' was replaced by branch/ branch-lite units. A branch shall refer to any permanent office
or place of business in the Philippines other than the head office where a bank may perform activities and
provide products and services that are within the scope of its authority and relevant licenses. In this respect,
a complete set of books and records shall be maintained in each branch. A branch-lite unit shall refer to any
permanent office or place of business of a bank, other than its head office or a branch. A branch-lite unit
performs limited banking activities and records its transactions in the books of the head office or the branch
to which it is annexed.

Source: Bangko Sentral ng Pilipinas, Insurance Commission