Bank of the Philippine Islands (BPI) on Sunday announced the passing of former bank president and chief executive officer (CEO) Xavier Loinaz, who served one of the longest leadership tenures in Philippine banking from 1982 to 2004.
Loinaz who died at the age of 82 had led BPI from the debt crisis in the early 1980s to the Asian Financial Crisis of the late 1990s. It was during his tenure that BPI became the first Philippine bank to introduce automated teller machines (ATMs) in the early 1980s and to launch internet banking in 1999.
He also presided over landmark acquisitions including Family Bank, Citytrust and Far East Bank, which expanded BPI’s reach and solidified its position as a market leader.
The acquisition of life and property and casualty insurance companies also marked the beginning of bancassurance in the Philippines, it said.
After stepping down as CEO, Loinaz continued to serve as a member of the board of directors of BPI until 2020.
“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,” said BPI President and CEO Jose Teodoro Limcaoco.
“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,” said Limcaoco.
