BANK of the Philippines Islands (BPI) President and Chief Executive Officer (CEO) Jose Teodoro Limcaoco was elected on Wednesday as the next president of the Bankers Association of the Philippines (BAP).
'I am thankful for the trust that BAP members have placed in me to lead the organization into greater heights,' Limcaoco said following the elections.'As our country faces renewed challenges from global economic headwinds, there is a call for us in the banking industry to be forces of stability and growth so that our economy will continue to progress,' he added.
'We have always been working toward better and more responsive financial services to support the economy and improve the lives of Filipinos.'Better financial intermediation, Moncupa said, will make the economy 'more efficient by optimizing the allocation of debt capital, improving cost efficiency for financial services and making financial services more responsive to the growing sophistication of households and businesses.
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