The Bank of the Philippine Islands (BPI) mourns the passing of Mr. Xavier P. Loinaz, former president and CEO, whose visionary leadership helped shape not only the institution but the Philippine banking industry at large. He passed away in 2025, leaving behind a profound legacy of innovation, integrity, and service.
Fondly known as “XP” in professional circles, Mr. Loinaz devoted over two decades of his life to BPI, serving as president and CEO from 1982 to 2004—one of the longest tenures in Philippine banking history. His leadership spanned some of the country’s most challenging periods, including the debt crisis of the early 1980s and the Asian Financial Crisis of the late 1990s. In the face of adversity, Mr. Loinaz led with calm discipline and foresight, steering the bank toward growth, resilience, and technological advancement.
Under his leadership, BPI became a pioneer in financial innovation. In the early 1980s, the bank became the first in the Philippines to introduce automated teller machines (ATMs). In 1999, it launched internet banking, transforming how Filipinos accessed and managed their finances. Mr. Loinaz also oversaw a series of landmark acquisitions—Family Bank, Citytrust, and Far East Bank—which expanded BPI’s reach and solidified its leadership in the industry.
He was instrumental in integrating banking and insurance services in the country, acquiring life and non-life insurance firms and initiating what would become the bancassurance model in the Philippines. Even after stepping down as CEO in 2004, he continued to serve BPI with distinction as a member of the board of directors until 2020.
BPI president and CEO TG Limcaoco paid tribute to Mr. Loinaz, saying: “XP’s leadership defined an era of resilience and innovation for BPI. He taught us discipline, integrity, and the importance of serving with purpose. The innovations he introduced, and the people he guided, continue to carry his legacy forward.”
“We will always be grateful for his steady hand and his belief in the Filipino spirit. He leaves behind an institution made stronger by his leadership—and a family of bankers who will forever remember him with respect and gratitude.”
More than a corporate leader, Xavier P. Loinaz was a mentor, a model of excellence, and a steadfast believer in the Filipino spirit. His influence extended well beyond BPI, touching the broader business community and the countless lives of those he inspired throughout his distinguished career.
The entire BPI family stands with the Loinaz family in grief and remembrance. We honor the life and legacy of Xavier P. Loinaz—a man of wisdom, humility, and unwavering commitment to excellence. His impact endures in the institution he helped build, the industry he helped transform, and the many lives he enriched.
He will be deeply missed and forever remembered.
