Philippine National Bank (PNB) has announced the appointment of Edwin Bautista as its new president and CEO, effective April 29, 2025, replacing Florido Casuela. The change was confirmed in a disclosure to the Philippine Stock Exchange on Wednesday.

Bautista, former president and CEO of Union Bank of the Philippines (UnionBank), will also take Casuela’s seat on the PNB Board of Directors, having already been nominated as a director for the 2025-2026 term.

PNB’s board expressed its appreciation for Casuela’s leadership during his tenure, particularly in navigating the bank through the post-pandemic recovery period. While Casuela will step down from his active role, he will continue to serve the bank as a strategic advisor on the Board.

Bautista, with over 27 years of experience at UnionBank, is credited with spearheading the bank’s digital transformation and expanding its retail banking sector. His tenure at UnionBank included leading the acquisition and integration of Citigroup’s Philippine retail banking business, a move that cemented the bank’s position as a leader in digital banking.

“Bautista’s appointment reflects PNB’s commitment to innovation, customer-centric banking, and long-term growth,” the bank stated, adding that Bautista’s leadership is expected to drive the bank’s ongoing modernization and strengthen its position in the competitive banking industry.

The leadership transition comes as PNB reported a 17.1 percent year-on-year increase in attributable net income, reaching P21.05 billion in 2024. The bank’s shares closed at P47.90, up by 4.13 percent on Wednesday.

This change in leadership is expected to further drive PNB’s strategic transformation, with a continued focus on digital innovation and expanding its services to meet the evolving needs of its customers.