BPI to proceed with ‘cautious optimism’ amid MidEast crisis
BANK of the Philippine Islands officials speak at a Monday, 20 April press conference at New World Hotel Makati following the bank’s Annual Stockholders’ Meeting. From left: BPI president and CEO Jose Teodoro ‘TG’ K. Limcaoco, and head of Consumer Banking Maria Cristina L. Go.
PHOTOGRAPH courtesy of BPI
The Bank of the Philippine Islands (BPI) is proceeding with cautious optimism for the rest of 2026 as the Middle East conflict continues to weigh on Filipino consumers.
Speaking at a press briefing following its Annual Stockholders’ Meeting, BPI president and CEO TG Limcaoco said the bank will push forward with its consumer-centric strategy amid heightened economic uncertainty.
‘BPI continues to be very focused on the consumer side’
“These are times when people have to be cautious, given the situation in the Middle East and the effects that might have on our economy. As BPI, we continue to be very focused on the consumer side,” he said.
“Our focus will remain there, albeit with greater caution, as we assess how the economic situation will evolve and how it will affect both consumers and large corporations,” Limcaoco added.
Inflation rose to 4.1 percent in March, up 1.7 percentage points from the previous month, driven largely by higher fuel and transportation costs. Despite recent rollbacks, fuel prices remain about 60 percent higher than pre-escalation levels.
The central bank has also flagged potential spillover effects into other goods and services, with Limcaoco noting the broader impact of rising prices on consumer spending.