MANILA, Philippines - Not too many people know about the history of Banco Filipino and how, during its heyday, it was actually a major player in the financial industry.

It was founded in 1964 and one of the largest thrift banks in the 1980's. It was closed by the Central Bank in 1985 citing insolvency. It re-opened in 1994, but was closed again -- 17 years after, in March 2011 -- for the second time.