Nestor Tan, Fabian Dee get fresh mandate to lead BancNet; new directors named

Bankers Nestor Tan and Fabian Dee received fresh mandates to lead BancNet for another year, being reelected as chairman and president, respectively, during the recent annual stockholders’ meeting of the country’s largest electronic banking consortium.

In a statement, Dee highlighted the consortium's 11.9% net income rise to P110.93 million in 2023, emphasizing the importance of cybersecurity and operational resilience.

Tan, for his part, reiterated BancNet’s commitment to technological enhancements and operational reliability, focusing on accessible benefits for all members.

Nestor Tan and Fabian Dee

Reelected as BancNet chairman and president, respectively

As of end-2023, BancNet's network included 113 members, 26,482 automated teller machines, and 545,489 point-of-sale terminals, serving over 1 million active debit cards.

During the same meeting, new directors were elected to the company’s board namely Wilfredo Rodriguez (Asia United Bank), Paul Raymond Favila (Citibank), Henry Bremridge (HSBC), Hermogenes Esperon, Jr. (Philtrust Bank), and Cecilio Paul San Pedro (Sterling Bank).

Apart from Tan who heads BDO Unibank and Dee who runs Metrobank, also reelected to the board were Alexander Seminiano (BPI), Manuel Tagaza (Chinabank), Salvador Serrano (East West Bank), Leila Martin (Land Bank), Florido Casuela (PNB), Reginaldo Cariaso (RCBC), John Cary Ong (Security Bank), and Edwin Bautista (Union Bank).

At the subsequent board meeting, Bautista was also reelected treasurer for the 2024-2025 term. The board also appointed Elmarie Reyes as CEO and Agnes Maranan as corporate secretary.