Former BPI CEO Xavier Loinaz dies at 82

Xavier "XP" Loinaz, former president and CEO of Bank of the Philippine Islands (BPI), passed away on Saturday, October 4, at the age of 82.

He led BPI for 22 years from 1982 to 2004, guiding the bank through significant political and economic challenges including the debt crisis and the Asian financial crisis.

Under his leadership, BPI became the first Philippine bank to introduce automated teller machines (ATMs) in the early 1980s and launched internet banking in 1999.

He also presided over key acquisitions such as Family Bank in the mid-1980s, Citytrust in the mid-1990s, and Far East Bank at the turn of the century.

His tenure also marked the beginning of bancassurance in the Philippines, integrating banking and insurance services.

After stepping down as CEO, Loinaz remained on the BPI Board of Directors until 2020.