Aboitiz-Delgado elected as BAP’s first lady prexy

CEBU, Philippines — 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 head the industry group in its nearly 80-year history.

She succeeds Jose Teodoro K. Limcaoco, president and chief executive officer of Bank of the Philippine Islands, who completed his three-year term after assuming the role in 2023.

Limcaoco was recognized during the association’s annual reception, which also marked the introduction of its new leadership team.

During Limcaoco’s tenure, the BAP pushed initiatives aimed at curbing financial scams and cybercrime, including support for the Anti-Financial Account Scamming Act. The association also strengthened regional cooperation through the ASEAN Bankers Association, promoting an ecosystem-based approach to combating fraud across borders.

Industry efforts under his leadership focused on enhancing the efficiency and connectivity of shared banking platforms to support the rapid expansion of digital transactions.

Aboitiz-Delgado assumes the post after more than two decades at UnionBank, where she began as a management trainee in 2003 and rose through the ranks to lead one of the Philippines’ most digitally focused lenders. Her experience spans small and medium enterprise banking, retail and institutional finance, customer experience and digital channels.

In her inaugural remarks, she highlighted the banking sector’s role in driving economic growth while navigating emerging risks linked to technological change and geopolitical uncertainty.

“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, noting that accelerating digitalization and the rise of artificial intelligence are introducing new risks that extend beyond individual institutions and national borders.

She called for deeper collaboration across the industry, including with regulators and communities, to safeguard trust in the financial system.

“Advancing industry-wide standards and strengthening cooperation are critical so that confidence in the financial system is not only preserved, but enhanced,” she said.

The association also named Elfren Antonio S. Sarte Jr. as managing director, succeeding Benjamin P. Castillo, who had held the post since 2017.