IT was a night of stars, in the financial community that is, as they attended the Annual Bankers’ Reception tendered by the Bangko Sentral ng Pilipinas (BSP) on Friday, January 26, at the Fort San Antonio Abad. It was an especially meaningful night as it commemorated the 75th year of the institution, which has overseen the many changes in the country’s history and dealt with the impact of global economic policies. Through it all, the central bank has always provided the strong fortification to protect the economy and defend it from both internal financial difficulties and external shocks.
And so it was fitting that the event was moved back to the historic fort—completed in 1584—which has played a key role in defending our still young country against foreign troops. I am told that credit must go to Marie V. Remolona, the wife of BSP Gov. Eli M. Remolona, as she recalled attending the previous Bankers’ Receptions traditionally held at the fort. Too bad she was not in attendance that night, as a source tells me, the mysterious Mrs. Remolona was on an “apos-tolic duty” in the US.
It was nice to see the usually reserved Gov. Eli bravely mingling with his, uhm, constituents, exchanging brief words with them and gamely posing for photos. I think the conversations were more pleasant and engaging for him (and everyone, for that matter) with the event returned to the beautifully lit fort, which exuded warmth and comfort. Seen sharing pleasantries with him were his predecessors, Say Tetangco, Joey Cuisia, and Jimmy Laya.
Too bad I missed newly appointed Finance Secretary Ralph G. Recto who made an appearance sans his missus, actor Vilma Santos Recto. I had firmly made up my mind to attend the event just for a chance to get a selfie with Ate Vi, and ask her if she were up to making meaningful films again the likes of Sister Stella L, and Bata, Bata, Pano Ka Ginawa? So I had to settle for a selfie with senior assistant Gov. Edna C. Villa instead (joke!). But seriously, a longtime central banker, EV is definitely BSP’s own Star for All Seasons having been appointed to the challenging post of heading BSP’s Treasury Group. So, congratulations!
It was nice to catch up with our big boss, D. Edgard A. Cabangon, who attended with his lady love Sharon Tan. Cabangon, who is also chair of Citystate Savings Bank, was fearlessly fending off questions about CNN Philippines’ then impending closure. (Wait, what were telco reporters doing at a banking event?)
Also paying homage to Gov. Eli were the country’s tycoons such as the venerable Helen Yuchengo-Dee and Teresita Sy-Coson, as well as Jaime Augusto Zobel de Ayala, who grows even more handsome through the years. Not far behind were Nestor Tan (BDO) and TG Limcaoco (BPI), who I also saw mingling with former Monetary Board (MB) member Peter Favila and son Paul (Citi Philippines).
There appeared to be happy reunion of UP School of Economics graduates and professors led by the fearless former National Economic and Development Auhority (Neda) secretary Winnie Monsod, former Neda deputy director-general Florian Alburo, current Neda Secretary Arsenio Balisacan, and a less-stressed Berna Romulo Puyat, who, as BSP deputy governor, oversees the PalengQR Ph plus program, directed at the unbanked sectors in society. (Our group had lovingly bestowed on her the title “PalengQR Queen”.)
The digital banking and payments stars were also present, led by Manish Bhai (Uno Digital Bank), Albert Raymund Tinio (GoTyme), and Simoun Ung (OmniPay). Newly appointed MB member Romy Bernardo was happily handing out his new calling card, to which I jokingly responded that he should be sharing his contact deets via QR code instead, you know, to help the environment. We’ve known RB since his days as Finance undersecretary, and even after that stint he has regularly shared his group Global Source Partners’ analyses on the Philippine economy. Of course, what I will miss most is RB being on Globe Telecom’s board, as he has provided an important lifeline in helping solve my internet connection issues.
In his short remarks that night, Gov. Eli pronounced the banking system as “healthy” and “profitable” with “sound performance indicators.” He also appealed to the banking industry’s cooperation to continue helping the BSP in its job of stabilizing the economy. Foremost in the BSP’s reform agenda is “to further enhance our monetary policy framework by sharpening our research, our model, and non-monetary tools; strengthen the way we conduct systemic risk oversight; deepen the country’s capital markets; and make the BSP sustainability initiative more meaningful by infusing it with an inclusion perspective.”
He added: “The BSP has accomplished a lot in the last 75 years. None of these would have happened without the help of various stakeholders present here today. To the past members of the Monetary Board and BSP officers, we salute you for helping shape the BSP into the world-class organization that it is today.”
Image credits: BSP