Statement of the Bankers Association of the Philippines on the passing of BSP Governor Nestor Espenilla Jr.

March 01, 2019

 

The Bankers Association of the Philippines is deeply saddened by the passing of Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr.

The BAP applauds the legacy of Governor Espenilla in leading the banking industry in the age of financial reforms and digitization which was encapsulated in his vision of Continuity Plus Plus. His leadership resulted in progressive reforms that now support a stronger Philippine banking system, including the enactment of the New Central Bank Act. His focus on creating a safe, inclusive, and reliable payment system for the unbanked was evident with the establishment of the National Retail Payment System.

With the support and guidance of Governor Espenilla, the BAP built the Philippine Banking Roadmap. The association is grateful to Governor Espenilla for his initiative to engage the industry and respond to its inputs in keeping with the BSP’s reform agenda.

He leaves a legacy of a stronger and more inclusive banking system. His devotion to his work and service to the Filipino people will be remembered.

Espenilla fought the good fight and finished the race as the BSP Governor. His legacy and dedication
to the BSP and its constituencies will never be forgotten and his work will be a foundation in building
a stronger Philippine banking industry for future generations.

He will be missed.