Banking

Bank of Commerce is one of the Philippines’ progressive commercial banks. It has been in operations since 1991. The Bank offers a wide range of banking and other financial products and services, including traditional deposit products, corporate banking, consumer banking, treasury, asset management, trust services, trade, and credit card services. In 2007, BoC was bought by San Miguel Properties, the acquisition of which was hinged on the property arm’s need to have a ready credit line for its projects and prospective clients BOC would be able to service the financing needs of SMC’s dealers, agents and wholesalers for depository and payment channels, guarantees, letter of credit, credit lines, loans and discounts.

In early 2010, San Miguel Properties sold its stake in the bank to the SMC Group Retirement Funds.