Export and Industry Bank
Encyclopedia
Export and Industry Bank , also known as Exportbank, is a commercial bank
in the Philippines
. It acquired Urban Bank
in 2001 after the former collapsed due to its closure by the Bangko Sentral ng Pilipinas
.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. It acquired Urban Bank
Urban Bank
Urban Bank , also known by its initials UBI, was a middle size bank in the Philippines. The bank, along with its two subsidiaries, declared a voluntary bank holiday for failing to meet withdrawals and was consequently closed by the Bangko Sentral ng Pilipinas and put under the mandatory...
in 2001 after the former collapsed due to its closure by the Bangko Sentral ng Pilipinas
Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas and commonly abbreviated as BSP is the central bank of the Philippines. It was rechartered on July 3, 1993, pursuant to the provision of the 1987 Philippine Constitution and the New Central Bank Act of 1993...
.
Subsidiaries and affiliates
Exportbank is divided into the following subsidiaries and affiliates:- EIB Realty Developers
- EIB Savings Bank
- EIB Securities
- ValuGen Financial Insurance Company
Former subsidiaries and affiliates
- Urban Building Technologies
- Urbancorp Insurance Brokers
- Urbancorp Realty Holdings
- Urbancorp Technologies Corporation
- ValueFinance
Ownership
- Lippo GroupLippo GroupThe Lippo Group is a major Indonesian conglomerate founded by Mochtar Riady. The Lippo Group began with Bank Lippo, later using this as a platform for regional property development projects. These projects, throughout Indonesia and China, are akin to Irvine, California's development...
: 37% - AO Capital: 22%
- AMY Holdings: 20%
- RZB Group: 9.5%
- Public stock: 11.5 %