Edwin Bautista named new PNB president
After leading the massive digital transition campaign of his old bank, Edwin Bautista will join another major bank next month as its president and CEO.
Philippine National Bank (PNB) of the Lucio Tan Group disclosed on Wednesday the appointment of Bautista, following the resignation of its president and director, Florido Casuela, effective on April 29.
“This impending leadership transition marks a key milestone in PNB’s ongoing strategic transformation,” the bank said, confirming the earlier Biz Buzz report in the Inquirer.
According to PNB, Casuela will “focus on personal businesses” while taking a “less active role” at the bank as board advisor.
Casuela leaves behind a 19-year legacy at PNB.
The veteran banker joined PNB in 2006 as its director before he was appointed acting president in July 2022.
“The board expressed its deep appreciation for Mr. Casuela, who skillfully led the bank through the challenges of the postpandemic period,” PNB said in its regulatory filing.
Under Casuela’s leadership, PNB was able to bounce back from pandemic woes. PNB’s net income last year ended at P21.2 billion, representing a 20.5-percent surge from its 2020 numbers.
PNB now stands as the country’s eighth largest bank in terms of assets—P1.2 trillion—as of September.
For his part, Bautista joins PNB after nearly three decades with Union Bank of the Philippines (Unionbank).
It was during his stint as president that the Aboitiz-led bank launched UnionDigital Bank Inc., providing access to credit and loan applications through its mobile application.
“Mr. Bautista brings with him a wealth of experience from [Unionbank] where he played a pivotal role in driving the bank’s digital transformation and expanding its retail banking,” PNB said.
“His appointment signals PNB’s commitment to innovation, customer-centric banking and long-term sustainable growth,” it added.
Bautista’s entry into PNB comes amid strong lending activity at the bank. This lifted its net interest income last year by 11 percent to P49.3 billion.
Income from its fee-based business, including loans, credit cards, deposits and trade, likewise rose by 4 percent to P5.5 billion.
