Former BPI president and CEO Xavier Loinaz passes away

VETERAN BANKER and former Bank of the Philippine Islands (BPI) President and Chief Executive Officer (CEO) Xavier P. Loinaz died on Oct. 4, the listed bank said late on Sunday.

“The Bank of the Philippine Islands mourns the passing of Mr. Xavier P. Loinaz, a visionary leader whose legacy continues to shape both our institution and the Philippine banking industry,” the bank said in a statement.

“The entire BPI family joins the Loinaz family in grief and remembrance. We honor XP’s remarkable life, his enduring contributions, and the countless ways he helped shape our bank, our industry, and our nation.”

Mr. Loinaz was president and CEO of BPI from 1982 to 2004. After his term, he continued to serve as a member of the bank’s board of directors until 2020.

“He guided the bank through some of the most tumultuous periods in the nation’s history, from the debt crisis of the early 1980s to the Asian Financial Crisis of the late 1990s. Despite these external challenges, his steady and disciplined leadership brought innovation, resilience, and growth to BPI,” the bank said.

During his term, BPI was the first bank in the Philippines to roll out automated teller machines in the early 1980s and then Internet banking in 1999. He also oversaw BPI’s landmark acquisitions of Family Bank from the Gotianun family in the mid-1980s, CityTrust Banking Corp. in the mid-1990s, and Far East Bank and Trust Co. in 2000.

“These moves not only expanded BPI’s reach but also helped solidify its position as a market leader,” the bank said. “His acquisition of life and property and casualty insurance companies also marked the beginning of bancassurance in the Philippines, a pioneering step that integrated banking and insurance services for Filipino families.”

“To us at BPI, Xavier Loinaz was not only a visionary leader but also a mentor and an inspiration. 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,” BPI President and Chief Executive Officer Teodoro K. Limcaoco said. “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.” — AMCS