The Bangko Sentral ng Pilipinas (BSP) hosted its first-ever Corporate Governance (CG) Summit on Monday in Manila, gathering leaders from universal, commercial, and digital banks alongside regulators and industry experts. The event, themed “Navigating the Future: Governance in Action,” aims to raise governance standards and ensure strong oversight as the financial sector faces rapid changes.
In his remarks, BSP governor Eli M. Remolona, Jr. emphasized that good governance — including effective board supervision, internal controls, and transparent reporting — is key to supporting regulations and keeping the system secure. He explained that rules on capital, liquidity, and transparency are designed not only to protect individual banks but to safeguard the entire financial system. He noted that Philippine banks currently maintain strong capital and liquidity levels, which good governance helps sustain.
Discussions covered global governance trends, leadership culture, digital and cybersecurity safeguards, fraud prevention, and ways to build long-term value and integrity. Speakers and panelists included local banking and business leaders as well as international experts from the Bank for International Settlements, Monetary Authority of Singapore, and Citibank, who shared global best practices and local insights.
This summit marks a key policy move by the BSP to formalize closer cooperation between regulators and banks. It establishes a permanent platform to align local practices with international standards, address emerging risks such as cyber threats, and embed governance as a foundation for financial stability. By making governance a shared priority, the BSP aims to ensure the banking sector remains resilient, trustworthy, and capable of supporting economic growth amid evolving challenges.
