THE BANKERS Association of the Philippines (BAP) reelected its current president Nestor V. Tan for another term.

In a statement on Tuesday, BAP said Mr. Tan, who is also the president and chief executive officer of BDO Unibank, Inc., will serve another term as the president of BAP.

This will be his third term as the BAP president since his first election to the post in 2016.

During his term, the BAP introduced the central bank-backed Philippine Banking Roadmap, which provided a more convenient and faster way of delivering banking services.

This led to the development of a prototype for a digital banking identification registry, allowing member banks to allow storage and exchange of data.

BAP also adopted the Government Securities Roadmap which made the trading of fixed-income instruments more cost-efficient.

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

Looking forward, Mr. Tan added that the association will rationalize and upgrade its utilities and operations and purse industry positions for the welfare of the Philippine banking industry.

Established in 1949, BAP consists of 21 local banks as well as 20 foreign bank branches. — KANV

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