Tell Me About Banking In Offshore Philippine Unit
The Philippines have many offshore banks. One such offshore Philippine
unit is Maybank (Malayan Banking Berhad). Maybank is the largest bank in
Malaysia with over 300 domestic branches and over 30 international
branches. Maybank gained its license in the Philippines and has offshore
banks in Southeast Asian markets, including Brunei, New Guinea, Vietnam,
and Indonesia. You will also find Maybank in New York and London.
Maybank was the first Malaysian bank to open a branch office in China.
Maybank operates quite a few specialized subsidiaries in finance sectors.
These subsidiaries include Mayban Life Assurance, Mayban General
Assurance, and Mayban Takaful, which is involved in developing insurance
products in tune with Muslim law, Mayban Discount, Mayban Investment
Management, Aseam Credit, Aseam Unit Trust, Mayban International Trust,
Aseam Group, and Aseambankers Malaysia Bhd. As of December 2006 Maybank
had total assets worth over $66 billion. This placed them in the top 120
banks in the world.
The Deutsche Bank appointed Enrico Cruz as Chief Country Officer in the
Philippines in July 2003. Mr Cruz is also Senior Vice President at
CityTrust Banking Corpotation in the Philippines. Mr. Cruz has a strong
market understanding and an approach that puts the client first. He will
lead the expansion of the Deutsche Bank in the Philippines.
The Deutsche Bank has over 758 billion in assets (Euros), has 13 million
clients, serves 76 countries throughout the world generating exceptional
value for its shareholders. The Deutsche Bank is among global leaders in
banking, transaction banking, private wealth management, asset
management, and private and business banking franchise in Germany and
other countries in Continental Europe. The Deutsche Bank has more than 30
offices in 15 countries, and has a full commercial banking license in the
Philippines. This bank operates as an offshore banking unit in Manila.
Lancaster Condotels is another banking in offshore Philippine unit. PLC
International Marketing Networks based in Manilla, recently employed the
internet based E-Quity.com with offices in London as their marketing
partner in the UK for Philippine Condotel Investments. Several private
investors and investment trusts in Europe and the UK, have turned to
Condotel developments in Metro Manila and Cebu.
The Philippines offers World Class Investment Opportunities in Real
Estate for offshore investors from the UK and Europe who want to buy
investment real estate properties. Pacific Concord Properties has
introduced a new easy payment plan for the Lancaster Artium Manila
Condotel Suites. A studio unit can be bought with no down payment, and
67% of the price is payable over a 60 month span, interest free, and the
remaining 33% balance is payable when the unit is turned over or extended
for another 60 months.
These offshore banks, Philippine units are seeing a huge growth in
investment banking. They offer quite a few options for those who want to
invest in offshore banks.