Ana Maria Aboitiz-Delgado, president and chief executive officer of Union Bank of the Philippines, has been elected president of the Bankers Association of the Philippines (BAP), becoming the first woman to lead the industry group in its nearly 80-year history.
She succeeds BPI President and CEO Jose Teodoro K. Limcaoco, who completed a three-year term after taking the post in 2023, the association said. Limcaoco was honored at BAP’s annual reception, where the group also introduced its new leadership team.
Aboitiz-Delgado takes over at a time when Philippine banks are facing rising fraud and cybersecurity risks alongside the rapid expansion of digital transactions and the growing use of artificial intelligence.
In remarks after her election, Aboitiz-Delgado said the banking industry had a critical role in driving economic progress by improving the efficiency and reach of financial services, but warned that digitalization and AI were also creating a new generation of risks that cut across institutions and borders.
She said those threats, combined with geopolitical uncertainty, highlighted the need for stronger industry standards and closer coordination among banks, regulators and the communities they serve to preserve trust in the financial system.
Under Limcaoco’s leadership, the BAP pushed initiatives aimed at tackling financial scams and cybercrime, including support for the Anti-Financial Account Scamming Act. The group also worked on improving the efficiency and interoperability of industry platforms to support the continued growth of digital payments, while promoting regional cooperation through the ASEAN Bankers Association in combating fraud.
Aboitiz-Delgado, a member of the Aboitiz family, has spent two decades at UnionBank after joining as a management trainee in 2003. Over the years, she has held roles across small and medium enterprise banking, retail and institutional finance, customer experience and digital channels, before taking the top job at one of the country’s most digitally focused lenders.
The BAP also named Elfren Antonio S. Sartre Jr. as managing director, replacing Benjamin P. Castillo, who had served the association since 2017.
Other newly elected officers are Fabian S. Dee of Metropolitan Bank & Trust Co. as first vice president, Lynette V. Ortiz of Land Bank of the Philippines as second vice president, Joseph Albert L. Gotuaco of BDO Private Bank as treasurer, and Paul Raymond A. Favila of Citibank, N.A. as secretary.
Business News Asia
