International Exchange Bank

International Exchange Bank

Infobox_Company
company_name = International Exchange Bank
company_
company_type = Defunct; now part of Union Bank of the Philippines
company_slogan = Taking relationships to heart
foundation = Manila, Philippines (1995)
location = Makati City, Philippines
key_people = Edwin R. Bautista, President and CEO
num_employees = 1,400
industry = Finance and Insurance
products = Financial Services
homepage = [http://web.archive.org/web/20070217163756/http://www.ibank.com.ph/ www.ibank.com.ph]
net_income = P755 million PHP (profit44%) (2005) [http://web.archive.org/web/20070202195748/www.ibank.com.ph/Inside+i/About+Us.htm]

International Exchange Bank, more commonly known as iBank, was one of the largest banks in the Philippines, ranking within the top twenty in terms of assets. It was recently acquired by the larger Union Bank of the Philippines in mid-2006, although the two banks remained separate. Integration of the iBank brand into the UnionBank brand was completed in mid-2008.

History

iBank was founded as a commercial bank on August 17, 1995, starting operations on September 25 of that year. It grew rapidly largely due to its consumer-oriented services which proved to be popular at the time. It was one of the many banks formed during the 1990s, when the administration of Fidel V. Ramos and Bangko Sentral ng Pilipinas governor Gabriel Singson encouraged the formation of more banks, a policy since reversed today.

On September 22, 2003, iBank joined MegaLink and unveiled its iDeal ATM card. At the time of its launch, the iDeal card was revolutionary in the sense that it was the first ATM card to come with value-added benefits, such as shopping discounts.

The bank listed on the Philippine Stock Exchange on December 6, 2004, under the ticker symbol IBNK.

iBank was acquired by Union Bank of the Philippines on June 5, 2006 that saw 98.86% of all iBank shares being sold in a block sale, catapulting UnionBank to become the seventh-largest bank in the Philippines in terms of assets.

Ownership

*Union Bank of the Philippines: 98.86%
*Others (includes public stock): 1.14%

ee also

*List of banks in the Philippines
*MegaLink
*Union Bank of the Philippines

External links

* [http://web.archive.org/web/20070217163756/http://www.ibank.com.ph/ International Exchange Bank website (courtesy of the Wayback Machine)]


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Mega International Commercial Bank — Type Public (TWSE: 2886) Industry Banking …   Wikipedia

  • International Settlements, Bank for —       international bank established at Basel, Switz., in 1930, as the agency to handle the payment of reparations by Germany after World War I and as an institution for cooperation among the central banks of the various countries (see Young… …   Universalium

  • Bank of Communications — Limited 交通银行股份有限公司 Type Public Industry Finance and Insurance Founded 1908 Headquar …   Wikipedia

  • international payment and exchange — ▪ economics Introduction international exchange also called  foreign exchange        respectively, any payment made by one country to another and the market in which national currencies are bought and sold by those who require them for such… …   Universalium

  • bank — bank1 /bangk/, n. 1. a long pile or heap; mass: a bank of earth; a bank of clouds. 2. a slope or acclivity. 3. Physical Geog. the slope immediately bordering a stream course along which the water normally runs. 4. a broad elevation of the sea… …   Universalium

  • Bank of China — Infobox Company company name = Bank of China Limited company company type = Joint stock company company slogan = foundation = 1912 location = Beijing, People s Republic of China key people = Xiao Gang, ChairmanLi Lihui, President num employees =… …   Wikipedia

  • Bank of America — Not to be confused with First Bank of the United States, Second Bank of the United States, or Bank of United States. Bank of America Corporation Type Public Traded as …   Wikipedia

  • International Organizations and Groups — Note: The Socialist Federal Republic of Yugoslavia (SFRY) has dissolved and ceases to exist. None of the successor states of the former Yugoslavia, including Serbia and Montenegro, have been permitted to participate solely on the basis of the… …   Universalium

  • Bank Mandiri — PT Bank Mandiri (Persero) Tbk. Type Public (IDX: BMRI) Industry Financial Services, Banking …   Wikipedia

  • Bank of Montreal — Infobox Company company name = Bank of Montreal company company type = Public company foundation = Montreal, Quebec, Canada, November 3, 1817 location = , Canada key people = Bill Downe (CEO) David A. Galloway (Chairman of the Board) industry =… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”