BAP to continue pursuing PH banking roadmap

The Bankers’ Association of the Philippines (BAP) reelected its president Nestor V. Tan for another term.

Tan is also the president and chief executive officer (CEO) of BDO Unibank Inc. This will be his third term as head of BAP since his election in 2016.

“We have finished the term strong through our collective efforts and partnerships, and we will continue to perform our best in pursuing the roadmap,” said Tan.

During his time, the association actively pursued its roadmap and was able to develop a prototype for a digital banking ID registry that will allow data storage and exchange among member banks. It also espoused the Government Securities Roadmap for a more cost-efficient trading of fixed income instruments and sustained regular dialogues with regulators for the liberalization of the foreign exchange market.

The association also launched its website last year as a way to reach out to the general public, sharing its activities and contributions to the economy.

Member banks also elected new officers to the association: Cezar P. Consing, Bank of the Philippine Island’s president and CEO and Antonio C. Moncupa, Jr., East West Banking Corp.’s vice chairman and CEO as first vice presidents; Enrico S. Cruz, Deutsche Bank AG’s managing director for global markets and chief country officer as secretary; and Jose Arnulfo A. Veloso, The Hongkong and Shanghai Banking Corp., Ltd.’s president and CEO as treasurer.

Also part of the newly elected board of directors are respective bank representatives from Bank of Commerce, China Banking Corp., Citibank, N.A, Development Bank of the Philippines, ING Bank, N.V., Mizuho Bank Limited, Philippine National Bank, Rizal Commercial Banking Corp., Robinsons Bank Corp., The HongKong and Shanghai Banking Corp. and Union Bank of the Philippines.

The elected and reelected BAP officers and directors expressed their gratitude to the member banks for their unrelenting support and active participation in the projects and initiatives of the association. With the Asean integration gearing up, Tan vowed to continue working on the roadmap towards a more competitive Philippine banking industry. /