Philtrust Bank, formally known as the Philippine Trust Company, is one of the oldest private universal banks in the Philippines. Founded on October 16, 1916, its history parallels the growth of the Philippine banking system. It is the third bank to be established in the Philippines, after Bank of the Philippine Islands and Philippine National Bank. The bank is one of the businesses that was owned by Chinese-Filipino businessman, Emilio Yap. As of December 16, 2010, Philtrust Bank has a total market capitalization of P40.6 billion and share price of P70.00.