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January 1, 1912
El Banco Español Filipino is the first bank in the Philippines and in Southeast Asia. After the Philippines was ceded to the United States under the Treaty of Paris in 1898, the bank shed off its Spanish character and converted it into a Philippine institution.
On January 1, 1912, El Banco Español Filipino became officially known as the Bank of the Philippine Islands (BPI), showing that the bank was now a Filipino institution. BPI also became a private finance institution under American colonial rule, and has since undertaken many pioneering efforts in the Philippine banking industry.
Source: Maria Teresa Colayco, A Tradition of Leadership: Bank of the Philippine Islands [Makati: BPI, 1984], pp. 75 and 83.
Each month, this section will feature milestones in the history
of the Ayala group's member companies. Ayala is the
Philippines' oldest business house and, through its diverse
business interests, has led the way in many vital areas
of national development.
Events cited here are supplied by the Ayala Memory
group of the Filipinas Heritage Library, which maintains a repository
of documentary and photographic records of significant events
and developments for the Ayala group of companies.
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Featured Collection
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Writing Women of the 1920s
The works of Filipino women writers in English began to
flourish in the 1920s. In 1925, Paz Marquez Benitez’s
“Dead Stars”, widely regarded as the first modern
Filipino short story, was published in the Philippines
Herald Magazine. According to the Filipino Heritage Series,
the publication of the story ushered in “a period of greater
development in writing in English by Filipinos.”
Read more
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This Month's Feature | |
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Tominaman sa Rogong Becomes a Painter
by Felice Prudente Sta. Maria
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