BDO President Nestor V. Tan and China Bank President Ricardo R. Chua have been reelected chairman and president, respectively, of BancNet for the 2016-2017 term, the electronic payments consortium announced. Tan is also the president of the Bankers Association of the Philippines.
During their annual meeting recently, BancNet stockholders elected the members of the corporation’s board of directors for the 2016-2017 term. Elected along with Tan and Chua were Redentor C. Bancod (RCBC), Roberto C. Benares (Bank of Commerce), Gil A. Buenaventura (DBP), Abraham T. Co (Asia United Bank), Cezar P. Consing (BPI), Fabian S. Dee (Metrobank), Reynaldo A. Maclang (PNB), Antonio C. Moncupa (East West Bank), Randolph L. Montesa (LandBank), Justo A. Ortiz (Union Bank), Alfonso L. Salcedo Jr. (Security Bank), Cecilio Paul D. San Pedro (Sterling Bank) and Elfren Antonio S. Sarte (Robinsons Bank).
During their organizational meeting that followed, the directors also reelected Reynaldo Maclang as treasurer, Aristeo Zafra Jr. as general manager-EVP, Agnes Maranan as corporate secretary and Elmarie Reyes as assistant corporate secretary. Chua was also elected concurrent vice chairman, and John Howard Medina, assistant treasurer. Tan and Chua were also elected chairman and vice chairman, respectively, of the Executive Committee. Elected committee members were Consing, Dee and Maclang.
The new board also appointed the members of the Operations Committee, which is tasked to translate into detailed operating policies and procedures the policies and directions the Board sets and to ensure the smooth operations of the company. The committee members appointed were Redentor Bancod (RCBC), Noel Calalang (UCPB), Angelito Evangelista (Robinsons Bank), Owen Maramag (DBP), Dennis Matutina (Union Bank), John Howard Medina (PNB), Tomas Victor Mendoza (BDO), Randolph Montesa (LandBank), Mark Perez (Metrobank), Wilfredo Rodriguez Jr. (Asia United Bank), Gerardo Susmerano (East West Bank), Manuel Tagaza (BPI), Jay Velasco (Bank of Commerce), William Whang (China Bank) and Daniel Yu (Security Bank).
During the stockholders’ meeting, Chua said BancNet had grown to be a billion-peso company with total assets of P1.18 billion as of the end of 2015.
Today, BancNet has 128 members and affiliates with 81.4 million cardholders and 8,843 ATMs nationwide.