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Land Bank Of The Philippines
Land Bank of the Philippines (LBP; often referred to simply as LandBank), is a government-owned bank in the Philippines with a special focus on serving the needs of farmers and fishermen. While it provides the services of a universal bank, it is officially classified as a "specialized government bank" with a universal banking license. LandBank is the second largest bank in the Philippines in terms of assets and is the largest government-owned bank. It is also one of the biggest government-owned and controlled corporations and banking institutions in the Philippines along with the Development Bank of the Philippines (DBP), Overseas Filipino Bank (OFW Bank), and Al-Amanah Islamic Investment Bank of the Philippines. Unlike most Philippine banks, LandBank has an extensive rural branch network with 409 Branches and Extension Offices, 46 Lending Centers and 2,188 ATMs (as of February 2020). It services many rural sector clients in areas where banking is either limited to rural bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Reform In The Philippines
Land reform in the Philippines has long been a contentious issue rooted in the Philippines's History of the Philippines (1521–1898), Spanish Colonial Period. Some efforts began during the American Colonial Period with renewed efforts during the Commonwealth, following independence, during Martial Law and especially following the People Power Revolution in 1986. The current law, the Comprehensive Agrarian Reform Program, was passed following the revolution and recently extended until 2014. History Much like Mexico and other Spanish colonization of the Americas, Spanish colonies in the Americas, the Spanish settlement in the Philippines revolved around the encomienda system of plantations, known as haciendas. As the 19th Century progressed, industrialization and liberalization of trade allowed these encomiendas to expand their cash crops, establishing a strong Sugar industry of the Philippines, sugar industry in the Philippines, especially in the Visayas, Visayan island of Negro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expressnet
Expressnet is an interbank network connecting the Automatic teller machine, ATM networks of seven major banks in the Philippines. It has the second-largest number of ATMs (largely due to the vast nationwide presence of Bank of the Philippine Islands Express Teller ATMs) and the smallest number of customers and member banks. However, its strength among the interbank networks and the ubiquity of BPI ATMs have given birth to the Expressnet motto: "The Powerful Connection". At present, Expressnet has 3.5 million customers and has 2,213 ATMs operating 24 hours a day. It has been reported that lock, stock and barrel of Expressnet has been purchased by rival interbank network BancNet. The Expressnet brand is slowly being retired as a result, and recent BPI promotional collateral no longer shows Expressnet info and membership, particularly in their new releases of BPI Express Teller cards (where BPI no longer lists itself as a member of Expressnet). Full integration of its current i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comprehensive Agrarian Reform Program
The Comprehensive Agrarian Reform Program, more commonly known as CARP, is an agrarian reform law of the Philippines whose legal basis is the Republic Act No. 6657, otherwise known as the Comprehensive Agrarian Reform Law (CARL). It is the redistribution of private and public agricultural lands to help the beneficiaries survive as small independent farmers, regardless of the “tenurial” arrangement. Its goals are to provide landowners equality in terms of income and opportunities, empower land owner beneficiaries to have equitable land ownership, enhance agricultural production and productivity, provide employment to more agricultural workers, and put an end to conflicts regarding land ownership. Background The agrarian reform is part of the long history of attempts of land reform in the Philippines. The law was outlined by former President Corazon C. Aquino through Presidential Proclamation 131 and Executive Order 229 on June 22, 1987, and it was enacted by the 8th Congress of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intermediary
An intermediary (or go-between) is a third party that offers intermediation services between two parties, which involves conveying messages between principals in a dispute, preventing direct contact and potential escalation of the issue. In law, intermediaries can facilitate communication between a vulnerable witness, defendant and court personnel to acquire valuable evidence, whilst in barter, the intermediary is a person or group who stores valuables in trade until they are needed, parties to the barter or others have space available to take delivery of them and store them, or until other conditions are met. In diplomacy and international relations, an intermediary may convey messages between principals in a dispute, allowing the avoidance of direct principal-to-principal contact. Where the two parties are geographically distant, the process may be termed shuttle diplomacy. Where parties do not want formal diplomatic relations, an intermediary state may serve as a protecting p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage in ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Union Bank Of The Philippines
The Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the universal banks in the Philippines and the ninth largest bank in the country by assets. UnionBank is a joint consortium among the Aboitiz Group, Insular Life and Social Security System. It started operations in 1981 and became a commercial bank on January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank. History Founding The bank was originally incorporated as “Union Savings and Mortgage Bank” on August 16, 1968. After the initial public offering the bank's shares were listed at the Philippine Stock Exchange (PSE) on June 29, 1992. Licensing as universal bank On July 15, 1992, the bank was granted the license to operate as a universal bank in the Philippines and the bank was changed its current name to Union Bank of the Philippines (UBP). Mergers and acquisitions In 1993, UnionBank merged with International Corporate Bank ("Interbank") ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit (finance)
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Peso
The Philippine peso, also referred to by its Tagalog name ''piso'' (Philippine English: , , plural pesos; tl, piso ; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 ''sentimo'', also called centavos. The Philippine peso sign is denoted by the symbol "₱", introduced under American rule in place of the original peso sign "$" used throughout Spanish America. Alternative symbols used are "PHP", "PhP", "Php", or just "P". The monetary policy of the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as its central bank. It produces the country's banknotes and coins at its Security Plant Complex, which is set to move to New Clark City in Capas, Tarlac."Overview of the BSP" Bangko Sentral ng Pilipinas (BSP) Official Website. Retrieved on October 1, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Capital
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, ''e.g.'', retail, corporate, investment banking, etc. In other words, financial capital is internal retained earnings generated by the entity or funds provided by lenders (and investors) to businesses in order to purchase real capital equipment or services for producing new goods and/or services. In contrast, real capital (or economic capital) comprises physical goods that assist in the production of other goods and services, e.g. shovels for gravediggers, sewing machines for tailors, or machinery and tooling for factories. IFRS concepts of capital maintenance ''Financial capital'' generally refers to saved-up financial wealth, especially that used in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperative
A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise".Statement on the Cooperative Identity. ''.'' Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include: * businesses owned and managed by the people who consume th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amortization (business)
In accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets in a systematic manner over their estimated "useful economic lives" so as to reflect their consumption, expiry, and obsolescence, or other decline in value as a result of use or the passage of time. The term amortization can also refer to the completion of that process, as in "the amortization of the tower was expected in 1734". Depreciation is a corresponding concept for tangible assets. Methodologies for allocating amortization to each accounting period are generally the same as these for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life and are therefore not subject to amortization (although goodwill is subjected to an impairment test every year). While theoretically amortization is used to account for the decreasing value of an intangible asset over its useful life, in practice many ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
