Phroto credit: DOF

The Philippine financial sector took another step toward strengthening public trust and financial stability as the Bangko Sentral ng Pilipinas held its first-ever Corporate Governance Summit in Manila.

The event, held at the BSP Assembly Hall on May 25, brought together key figures from the banking, finance, and digital innovation sectors to discuss how stronger governance can help banks adapt to rapid changes while continuing to protect Filipino consumers and depositors.

Representing BSP Governor Eli Remolona and the Monetary Board, Finance Secretary Frederick D. Go delivered the opening remarks during the summit.

Go stressed the importance of good governance in maintaining confidence in the country’s financial system, especially as banks face evolving technologies, digital transformation, and emerging risks.

According to the Finance Secretary, strong governance helps ensure institutions remain resilient, transparent, and capable of protecting the public while supporting long-term economic growth.

The summit also served as a platform for deeper collaboration between regulators and industry leaders. Participants included representatives from the Bank for International Settlements, Monetary Authority of Singapore, Citibank, as well as leaders from the Philippine banking and commerce sectors.

Discussions focused on improving board-level governance practices and strengthening cooperation between financial institutions and regulators amid the fast-changing financial landscape.

The BSP said initiatives like the Corporate Governance Summit are part of broader efforts to reinforce stability in the banking system while ensuring Filipino depositors and consumers remain protected.