There are several offshore banks in the Philippines. Maybank is an example of an offshore Philippine company (Malayan Banking Berhad). Maybank is Malaysia’s largest bank, with more than 300 domestic and foreign branches. Maybank was established in the Philippines and now operates offshore banks in Brunei, New Guinea, Vietnam, and Indonesia. Maybank is also located in New York and London.
Maybank was the first Malaysian bank to establish a presence in China, with a branch in Shanghai. Maybank has a number of specialist finance-related subsidiaries. Mayban Life Assurance, Mayban General Assurance, and Mayban Takaful, which establish Islamic insurance products, Mayban Discount, Mayban Investment Management, Aseam Credit, Aseam Unit Trust, Mayban International Trust, Aseam Group, and Aseambankers Malaysia Bhd are among these subsidiaries. Maybank had total assets of over $66 billion as of December 2006. They were ranked in the top 120 banks in the world as a result of this.
In July 2003, Enrico Cruz was appointed Chief Country Officer for the Philippines by Deutsche Bank. Mr. Cruz also works for CityTrust Banking Corporation in the Philippines as a Senior Vice President. Mr. Cruz has a thorough understanding of the industry and a client-focused approach. He will be in charge of Deutsche Bank’s expansion in the Philippines.
Deutsche Bank has a market capitalization of over 758 billion euros, 13 million customers, and serves 76 countries around the world, creating outstanding value for its shareholders. In Germany and other countries in Continental Europe, Deutsche Bank is a world pioneer in finance, transaction banking, private wealth management, asset management, and private and business banking franchise. In the Philippines, Deutsche Bank has a full commercial banking license and has over 30 offices in 15 countries. This bank is based in Manila and serves as an offshore banking branch.
Lancaster Condotels is yet another offshore Philippine banking unit. PLC International Marketing Networks, headquartered in Manila, recently hired E-Quity.com, a web-based marketing firm with offices in London, to promote Philippine Condotel Investments in the United Kingdom. Condotel investments in Metro Manila and Cebu have attracted a number of private investors and investment trusts from Europe and the United Kingdom.
For offshore investors from the United Kingdom and Europe looking to buy investment real estate assets, the Philippines offers World Class Investment Opportunities in Real Estate. For the Lancaster Artium Manila Condotel Suites, Pacific Concord Properties has launched a new simple payment plan. A studio unit can be purchased with no money down, with 67 percent of the price paid for 60 months with no interest, and the remaining 33 percent paid when the unit is turned over or extended for another 60 months.
Investment banking is booming for these offshore banks, especially their Philippine subsidiaries. They have a variety of options for those interested in investing in offshore banks.