4.11.2014

Offshore Banking Units in the Philippines (OBUs)

By Nora
Updated July 17, 2015

Offshore Banking Units (OBUs) are branches, subsidiaries, or affiliates of foreign banks authorized to do offshore banking in the Philippines.

They do foreign-currency banking transactions primarily with foreign banks, non-residents, other OBUs and corporate and institutional clients.

They can lend to resident importers and exporters as long as the funds are remitted from abroad through the banking system.

They can open peso deposit accounts with domestic banks but only for meeting administrative and operating expenses and for paying the local beneficiaries or recipients of non-resident-company remittances coursed through the OBUs' correspondent banks abroad.

There are 3 Offshore Banking Units (OBUs) in the Philippines, as of  July 17, 2015.

1.  BNP Paribas
2.  J.P. Morgan International Finance, Limited
3.  Taiwan Cooperative Bank


1
BNP Paribas
30th Floor, Philamlife Tower
8767 Paseo de Roxas Avenue
Makati City 1226
No. of Offices: 1
Website: bnpparibas.com.ph

According to its website, BNP Paribas offers:
 . export finance
 . loan syndication
 . bond underwriting
 . project finance
 . aviation finance
 . correspondent banking
 . global trade banking
 . interest rate, foreign currency and commodity hedging and derivatives

2
J.P. Morgan International Finance, Limited
30th Floor, Zuellig Building
Makati Avenue corner Paseo de Roxas
Makati City 1225
No. of Offices: 1
Phone: 885-7925

3
Taiwan Cooperative Bank
26th Floor, Citibank Tower
8741 Paseo de Roxas Avenue
Makati City
No. of Offices: 1
Phone: 848-1949
Website: tcb-bank.com.tw/tcb/servicesloc/manila en.mht

List of Foreign Banks in the Philippines 
Representative Offices in the Philippines

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