BSP holds first corporate governance summit

The Bangko Sentral ng Pilipinas convened directors of universal, commercial, and digital banks for its first Corporate Governance Summit on May 25, 2026, at the BSP Head Office in Manila.

The summit aimed to strengthen governance standards across the banking sector and promote sound, forward-looking oversight as banks face a rapidly evolving financial landscape.

The BSP said the event gathered Monetary Board members, senior central bank officials, and directors of universal, commercial, and digital banks, along with international and local experts on governance.

“In good governance, you have made sure that board oversight, internal controls, and transparency in accounting all work to support the regulatory framework. It is in times like this that we begin to appreciate such good governance,” BSP Governor Eli M. Remolona, Jr. said, addressing banks he described as having high capital buffers and liquidity.

“Our regulations on capital, liquidity, and transparency are there not just to protect you as individual banks. Indeed, they are really about maintaining the stability of the whole financial system,” Remolona added.

The summit carried the theme “Navigating the Future: Governance in Action.”

Sessions covered evolving global governance practices, leadership and culture as drivers of long-term value, digital and cybersecurity governance, and the role of governance in strengthening institutional integrity and financial resilience.

Discussions also focused on emerging trends in board oversight, risk governance, accountability, digital trust, information technology and cybersecurity governance, fraud prevention, and related issues.

Bank for International Settlements Financial Stability Institute Chairman Fernando Restoy, Monetary Authority of Singapore Executive Director and Chief Cyber Security Officer Tan Yeow Seng, Citibank N.A. Singapore Cyber Technology Global Head Rakesh Dharmala, and Citibank N.A. Philippines Senior Vice President and Country Cyber Lead Rodel A. Quesada shared global and local perspectives on governance, cybersecurity, and financial sector resilience.

BDO Unibank Chairperson and SM Investments Corporation Vice Chairperson Teresita Sy-Coson, Bank of the Philippine Islands Vice Chairman and Ayala Corporation President and CEO Cezar P. Consing, and San Miguel Corporation Chairman and CEO Ramon S. Ang joined the panel discussion on governance, culture, and leadership as drivers of long-term value.

Union Bank of the Philippines President and CEO Ana Maria A. Delgado, Rizal Commercial Banking Corporation President and CEO Reginaldo Anthony B. Cariaso, and HSBC Philippines President and CEO Sandeep Uppal shared insights on governance, integrity, and financial resilience.

The summit also brought together Monetary Board Member Walter C. Wassmer, Finance Secretary and Monetary Board Member Frederick D. Go, former BSP Governor Amando M. Tetangco Jr., Monetary Board Member Benjamin E. Diokno, BSP Deputy Governor Lyn I. Javier, Monetary Board Member Romeo L. Bernardo, Monetary Board Member Rosalia V. de Leon, and Monetary Board Member Jose L. Querubin.

The BSP said it envisions the Corporate Governance Summit as a continuing platform for dialogue, best-practice sharing, and stronger collaboration between regulators and the banking industry.

The initiative comes as corporate governance, cybersecurity, and financial resilience remain central concerns for bank boards amid rapid digitalization and heightened operational risks.