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July 21, 2024

Philippine banks pledge support for new BSP Governor

Banking institutions in the Philippines have committed to working closely with Eli Remolona, the newly appointed Governor of the Bangko Sentral ng Pilipinas (BSP), in order to advance key initiatives and enhance cybersecurity within the banking sector.

The Bankers Association of the Philippines (BAP) and the Bank Marketing Association of the Philippines (BMAP) warmly welcomed Remolona’s appointment and expressed confidence in his ability to guide the country’s banking industry towards stability, growth, and competitiveness.

Remolona can expect the BAP’s support “whether it be in the areas of financial market development, cybersecurity, and sustainability,” according to BAP President and Bank of the Philippine Islands (BPI) President and CEO, Bankero TG Limcaoco.

BAP and BMAP reiterated their unwavering support for the BSP and Remolona, emphasizing their commitment to promoting best practices in bank marketing and fostering collaboration among member banks and industry organizations.

They also highlighted the continuation of their partnership with the BSP in areas such as financial consumer protection, cybersecurity, and consumer-centric marketing.

The banking community also commended outgoing BSP Governor Felipe Medalla for his steadfast leadership during challenging times and his efforts to address the financial needs of the Filipino people.

Meanwhile, Medalla expressed confidence in Remolona’s capabilities and pledged a smooth transition of leadership.

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