Bank and banking institution

Bank and banking institution shall be synonymous and interchangeable and shall include banks, commercial banks, savings banks, mortgage banks, rural banks, development banks, cooperative banks, stock savings and loan associations and branches and agencies in the Philippines of foreign banks and all other corporations authorized to perform banking functions in the Philippines. (Sec. 5(d), R.A. No. 3591, as renumbered and amended by R.A. No. 10846)