Banco de Oro (BdO)
president and chief executive officer Nestor Tan has denied that he is
one of the leading candidates to replace his sibling Lorenzo as
president of the Bankers’ Association of Philippines (BAP).
According to the banker, if he is
not privy to BAP affairs, how come he will aspire to become the next
president of the association of 34 universal banks in the country.
“I’m not privy to BAP affairs,” Tan explained to The Daily Tribune.
If he will become the next president of BAP, he and his younger will become the first to serve as president of the organization of the biggest banks simultaneously.
Lorenzo has been reelected as president of BAP in March 24, 2014.
He is set to relinquish his post in a month’s time. But so far, no possible replacement has emerged.
Tan is the second president of a universal and commercial bank (UKB) to deny any interest to become president of the association of biggest banks in the Philippines since Asia United Bank president Abraham Co did the same in 2014.
The elder Tan is highly qualified to succeed his brother given his vast experience in banking for the past 30 years.
His stellar performance at Barclays made him as perfect choice to lead BdO, which he has been doing since 1997.
The Tan siblings have both performed their duties well in their respective banks. The elder Tan made BdO the number one in all aspects of universal banking while Lorenzo enabled Rizal Commercial Banking Corp. (RCBC) to enter the top seven UKBs in assets.
Prior to becoming BdO president, Tan was president of Barclays in England until BdO tapped him as president in 1997.
It took Tan 11 years before finally making the bank as the number one in assets at over P1.6 trillion now.
His bank is the leader in all aspects of universal banking such as number of depositors, branches, automated teller machines and total loan portfolio.
BdO, according to Bangko Sentral ng Pilipinas (BSP) deputy governor for supervision and examination sector, became number one in 2008.
It dislodged perennial number one Metrobank which however remains the second biggest in assets, depositors and ATMs.
Very recently, the biggest bank in the Philippines has just bought a leading rural bank, One Network Bank, to expand its presence in Mindanao.
“I’m not privy to BAP affairs,” Tan explained to The Daily Tribune.
If he will become the next president of BAP, he and his younger will become the first to serve as president of the organization of the biggest banks simultaneously.
Lorenzo has been reelected as president of BAP in March 24, 2014.
He is set to relinquish his post in a month’s time. But so far, no possible replacement has emerged.
Tan is the second president of a universal and commercial bank (UKB) to deny any interest to become president of the association of biggest banks in the Philippines since Asia United Bank president Abraham Co did the same in 2014.
The elder Tan is highly qualified to succeed his brother given his vast experience in banking for the past 30 years.
His stellar performance at Barclays made him as perfect choice to lead BdO, which he has been doing since 1997.
The Tan siblings have both performed their duties well in their respective banks. The elder Tan made BdO the number one in all aspects of universal banking while Lorenzo enabled Rizal Commercial Banking Corp. (RCBC) to enter the top seven UKBs in assets.
Prior to becoming BdO president, Tan was president of Barclays in England until BdO tapped him as president in 1997.
It took Tan 11 years before finally making the bank as the number one in assets at over P1.6 trillion now.
His bank is the leader in all aspects of universal banking such as number of depositors, branches, automated teller machines and total loan portfolio.
BdO, according to Bangko Sentral ng Pilipinas (BSP) deputy governor for supervision and examination sector, became number one in 2008.
It dislodged perennial number one Metrobank which however remains the second biggest in assets, depositors and ATMs.
Very recently, the biggest bank in the Philippines has just bought a leading rural bank, One Network Bank, to expand its presence in Mindanao.
