JAZA: Trust remains key to BPI’s 175-year legacy

Bank of the Philippine Islands (BPI) Chairman Jaime Augusto Zobel de Ayala said trust in banking remains paramount despite today’s ever-changing technological landscape, attributing the continued confidence of the bank’s clients as a key pillar of its 175-year history.

Speaking at BPI’s 175th anniversary gala dinner at the Marriott Grand Ballroom in Pasay City on Monday evening, Zobel de Ayala looked back on generations of leaders and clients, underscoring trust as the common thread that has held the bank together throughout its nearly two centuries of existence.

“What allows an institution to remain relevant for 175 years? Financial strength and the ability to adapt certainly matter, but I believe something more fundamental is at work,” he said.

“The trust that people place in an institution and the responsibility of keeping that trust.”

BPI was established in 1851 by Ayala clan members Margarita Roxas de Ayala and her husband, Antonio de Ayala, under the name El Banco Español Filipino de Isabel II. The bank, which has remained under the Ayala Corp. banner since its inception, saw Zobel de Ayala take the helm as chairman in 2004, succeeding his father, Jaime Pfitz Zóbel de Ayala, known as JZA.

“That same year, Xavier Loinaz , XPL as we fondly called him, retired as president, and Gigi Montinola took over leadership of the bank,” Zobel de Ayala said.

“Personally, as I took on the responsibility, I took comfort in knowing that JZA and XPL had built a solid foundation. Under their leadership, BPI entered a period of remarkable growth, acquiring several smaller institutions that have become integral parts of what is BPI today. They also pushed BPI into digital banking, and we are reaping those rewards today,” Zobel de Ayala added.

JAZA also reflected on the tenures of BPI’s past presidents, including current President and CEO Jose Teodoro “TG” Limcaoco, whom he credited with leading the bank to record full-year net income in three consecutive years, from 2023 to 2025. The bank last week announced Limcaoco’s successor, Executive Vice President and Consumer Banking Head Maria Cristina “Ginbee” L. Go, who is scheduled to take over on 26 April 2027, subject to regulatory approval.

Zobel de Ayala expressed confidence that Go would build on the gains made under Limcaoco’s leadership, particularly in digitalization and financial inclusion.

“Under TG, we're seeing real dynamism, renewed values, a sense of purpose in building a better Philippines, and a fresh focus on the consumer, one community and one family at a time,” JAZA said.

“And of course, we look forward to welcoming Ginbee and to supporting her as she builds her own vision for the bank.”

Zobel de Ayala noted, however, that the bank’s success goes beyond its leaders, as technological advances and the changing demands of consumers continue to reshape the banking landscape. He reaffirmed BPI’s commitment to serving its roughly 18.7 million clients while ensuring the institution remains relevant in the years ahead.

“Our responsibility is not simply to preserve what has been built. It is to make sure that the institutions we pass on remain strong and trusted, relevant to the changing needs of consumers, attuned to technological change, and capable of contributing to the country's future,” he said.