Updated September 19, 2021
What’s the purpose of foreign banks’ Representative Offices?
Representative Offices promote and provide information about the products and services offered by the foreign banks to the public. Affiliates’ products and services are excluded.
They DO NOT accept deposits, do not issue letters of credit, and do not engage in foreign exchange trading.
They are required to add the words “Representative Office” to their banking name to prevent confusion.
Transactions resulting from representatives’ promotional efforts are to be done by the foreign banks overseas.
Here are the 11 Foreign Banks’ Representative Offices in the country, as of Sep 2021
1
The Bank of New York Mellon Representative Office
Unit 15, 23rd Floor, Tower One & Exchange Plaza
Ayala Triangle, Ayala Avenue
1226 Makati City
No. of Offices: 1 Phone: 632 5310-2630
Email: monette.camigla@bnymellon.com
2
Bank of Singapore Limited Representative Office
22nd Floor, Tower I and Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City
No. of Offices: 1
Phones: 479-8988
3
Bank of Taiwan Representative Office
1404 Tower One & Exchange Plaza
Ayala Triangle, Ayala Avenue
1226 Makati City
No. of Offices: 1
Email: 059894@mail.bot.com.tw
*Received authorization from the BSP on September 27, 2018.
*Started operations on January 31, 2019.
4
Credit Suisse AG Representative Office
The Enterprise Center
19th Floor, Tower 2
6766 Ayala Avenue corner Paseo de Roxas
1226 Makati City, Metro Manila
No. of Offices: 1
*Received authorization from the BSP on March 23, 2018.
*Started operations on June 18, 2018.
5
DBS Bank, Ltd. Representative Office
22nd Floor Tower 1
The Enterprise Center
6766 Ayala Avenue corner Paseo de Roxas
1226 Makati City
No. of Offices: 1
Phone: 869-3674; 869-3876
Email: garylegarda@dbs.com
6
Japan Bank For International Cooperation Representative Office
11th Floor Tower 1
The Enterprise Center
6766 Ayala Avenue Cor. Paseo de Roxas
Makati City
No. of Offices: 1
Phone: 856-7711 to 14
Fax: 856-7715 to76
Email: c-cruz@jbic.go.jp
7
Korea Eximbank Representative Office
10th Floor Pacific Star Building
Makati Ave, Makati City
No. of Offices: 1
Phone No.: 864-0624
Fax: 864-0625
Email: edcf.kexim@gmail.com
8
The Ogaki Kyoritsu Bank, Ltd. Representative Office
Unit 507, 5th Floor
Tower One & Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City 1226
No. of Offices: 1
Phone: 810-6856
Email: shuisd7@gmail.com
*Received authorization from the BSP on April 18, 2017.
*Started operations on May 26, 2017
9
Rothschild (Singapore) Limited Representative Office
Suite 704, Jecoprime Building
20th Drive McKinley Business Park
Bonifacio Global City
1634 Taguig City
No. of Offices: 1
Phones: (63)-9177132651 / (632)-85198877
Email: Aaron.Domingo@rothschildandco.com
10
State Bank of India Representative Office
Room 202A, CYA Land Building
110 Rada Street, Legaspi Village
1229 Makati City
No. of Offices: 1
Phones: (02) 817-6820; 813-8561
Fax: (02) 817-1849
Email: sbi.manila@statebank.com
*SBI reopened its representative office in 2017, after ceasing operations in 2015.
11
UBS AG Representative Office
19th Floor Tower 1 and Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City 1226
No. of Offices: 1
Phones: 784-8888/784-8807
Fax: 784-8810
Email: lauro.baja@ubs.com
List of Representative Offices
1. The Bank of New York Mellon
2. Bank of Singapore Ltd.
3. Bank of Taiwan Representative Office
4. Credit Suisse AG Representative Office
5. DBS Bank, Ltd
6. Japan Bank For International Cooperation
7. Korea Eximbank
8. The Ogaki Kyoritsu Bank, Ltd. Representative Office
9. Rothschild (Singapore) Ltd.
10. State Bank of India
11. UBS AG
Notes:
- The Representative Office of Wells Fargo Bank in the Philippines stopped its operations on May 31, 2021. Cessation noted by the BSP on June 3, 2021.
- The Representative Office of the State Bank of India (SBI) ceased operations in July 2015. Cessation noted by the BSP on July 30, 2015. SBI reopened its representative office in 2017.
- The Representative Office of Cathay United Bank Co. Ltd. ceased operations in March 2016. Cessation noted by the BSP on March 17, 2016
- The Representative Office of Sumitomo Mitsui Banking Corp. ceased operations in April 2016. Cessation noted by the BSP on April 28, 2016.
- The Representative Office of Barclays Bank PLC ceased operations in 2016. Cessation noted by the BSP on August 12, 2016.
For more information on foreign banks’ Representative Offices in the Philippines:
The Manual of Regulations for Banks (MORB). Part Four.
Offshore banking units, Representative Offices and Foreign Currency Deposit Units