462. BANCO FILIPINO: “Subok na Matibay, Subok na Matatag”, 1968

BANCO FILIPINO, The First Bank, and its iconic logo.

BANCO FILIPINO was founded in 1964 in Plaza Sta. Cruz by Tomas Aguirre, whose fortune was built on his successful pawnshop business.  The finance industry was stunned by its phenomenal growth, and by 1966 was considered a major player in the banking field.

BANCO FILIPINO....Bank Anytime! 1966 Ad

By the 1970s, it had attracted over a million patrons, and in the 80s, had 89 branches nationwide. It parlayed its early success into a sprawling real property development project-- BANCO FILIPINO HOMES, or B.F. Homes, located in Las Pinas and Paranaque, the largest gated residential community in Asia.

B.F. HOMES, Print Ad. 1967

It touted itself as the FIRST BANK, as it indeed, it was the first bank to pay interest on savings deposit, and the first to pay interest in advance to those with time deposits. BANCO FILIPINO built its string financial base by accepting small peso deposits, including coin deposits from small entrepreneurs and unique products like Happy Savers Club promoted with children in mind.

ARAW-ARAW INTEREST NG INTEREST! 1965-66  Print Ads

BANCO FILIPINO further strengthen its position of advantage through advertising.The campaign of BANCO FILIPINO was also first in the industry, in that it used consumer language in Pilipino as early as 1968—“interest last month, interest this month, interest next month, interest araw-araw!”.

 This kind of advertisement was alien to those in the banking industry—most banks then had been using abstract  ads such as “Your Partner in Progress”, or “Place your Future in our Hands”. Then, a year later, when there was a bank run and BANCO FILIPINO survived it, the slogan “Subok na matibay, subok na matatag”—to indicate the bank’s stability and strength, was employed and eventually became a by-word.

WATCH BANCO FILIPINO'S 'Interes ng Interes' TVC HERE:

The campaign is attributed to Ace-Compton, and the slogan to copywriter Frankie Lacambra (he also created the Bank of Asia “Madaling lapitan”  campaign), which was used for many years in the bank’s TV and print ads.

 BANCO FILIPINO’s amazing run ended in 1985, when the bank went insolvent and was ordered closed by Central Bank. But after the Supreme Court declared its closure illegal, the bank reopened in 1994, using the same communication platform that  made it famous---“subok na matibay, subok na matatag”. But business was never the same after that. BANCO FILIPINO was closed again in 2011 by Central Bank for its massive liabilities that exceeded its assets, leading to its permanent demise.

 SOURCES:

4 As Philippines, youtube channel

De la Torre, Visitacion. Advertising in the Philippines : its historical, cultural, and social dimensions,Tower Book House, 1989

1964-1971, Special Supplements, Banking Institution, Sunday Times Magazine.