THE Philippine banking industry is moving to strengthen coordination within the sector and across the region to effectively address evolving risks under the newly elected head of the Bankers Association of the Philippines (BAP).
Ana Maria Aboitiz-Delgado, president and CEO of Union Bank of the Philippines, said closer collaboration among banks, regulators and regional counterparts will be critical as risks become more complex and increasingly interconnected.
In her first remarks as BAP president, Aboitiz-Delgado emphasized that challenges facing the financial system — ranging from digital threats to geopolitical uncertainty — can no longer be addressed by institutions acting alone.
“What excites me most is that as bankers, ours is an industry that has the ability to uplift lives and fuel economic progress by increasing the efficiency and effectiveness of banking services,” Aboitiz-Delgado said.
“As we see the acceleration of digitalization and the potential of AI (artificial intelligence), we face a next generation of risks that extend beyond individual institutions and national borders. These risks are further compounded by the economic impact arising from geopolitical uncertainty that faces us,” she added.
She stressed that these developments highlight the importance of advancing shared standards and deepening engagement not only within the banking industry but also with the Bangko Sentral ng Pilipinas and the communities they serve.
“So, together, they really underscore the importance of being peaceful in advancing industrywide standards and deepening collaboration with each other, the central bank, and the communities we serve,” Aboitiz-Delgado said.
“So, that trust and confidence in the financial system is not only preserved, but is strengthened,” she added.
Aboitiz-Delgado’s call builds on initiatives pursued by the BAP under outgoing president Jose Teodoro Limcaoco, president and CEO of Bank of the Philippine Islands, who completed his three-year term.
During his tenure, the association intensified efforts to combat financial scams and cybercrime, including support for the Anti-Financial Account Scamming Act. The BAP also strengthened ties with regional peers through the Asean Bankers Association, promoting a coordinated, ecosystem-based response to fraud and illicit financial activities that often cut across borders.
Aboitiz-Delgado, who has spent 20 years at UnionBank, is expected to push for stronger alignment across banks as the industry navigates this shifting risk landscape.
Her leadership comes as Philippine banks continue to expand digital services and integrate new technologies, increasing both opportunities for growth and exposure to systemic vulnerabilities.
Alongside her election, the BAP named Elfren Antonio Sarte Jr. as managing director, replacing Benjamin Castillo, who had served the association since 2017.
Other officers elected include Metropolitan Bank & Trust Co. President Fabian Dee as first vice president; and Land Bank of the Philippines President and CEO Lynette Ortiz as second vice president.
Meanwhile, BDO Private Bank President Joseph Albert Gotuaco will serve as treasurer; and Citibank CEO Paul Raymond Favila as secretary.
