A commercial bank is a financial institution that provides
services like accepting savings and time deposits, issues bank drafts and bank
checks and lends money by overdrafts and installment loans like business loans,
auto loans and mortgage lending. It also offers basic investment products like
certificate of deposits.
Commercial banks are also engage in the processing of
payments by way of telegraphic transfers, internet banking or other similar
means.
As of 14 September 2012, there are total of 16 commercial banks
operating in the Philippines based on the list of Bangko Sentral ng Pilipinas.
Fig.1 below shows the list of commercial banks including each bank's number of branches and websites.
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| Fig. 1. List Of Commercial Banks |