Remembering former BPI President and CEO Xavier P. Loinaz

Known as XP at work, he devoted more than two decades of his life as President and CEO of BPI, from 1982 to 2004—one of the longest leadership tenures in Philippine banking. He guided the Bank through some of the most tumultuous periods in the nation’s history, from the debt crisis of the early 1980s to the Asian Financial Crisis of the late 1990s. Despite these external challenges, his steady and disciplined leadership brought innovation, resilience, and growth to BPI.

During his tenure, BPI became the first Philippine bank to introduce ATMs in the early 1980s and later launched internet banking in 1999, transforming the way Filipinos accessed financial services. Xavier also presided over landmark acquisitions that strengthened BPI’s industry leadership, including Family Bank in the mid-1980s, Citytrust in the mid-1990s, and Far East Bank at the turn of the century. These moves not only expanded BPI’s reach but also helped solidify its position as a market leader. His acquisition of life and property and casualty insurance companies also marked the beginning of bancassurance in the Philippines, a pioneering step that integrated banking and insurance services for Filipino families. After stepping down as CEO, Xavier continued to serve the Bank with distinction as a member of the Board of Directors until 2020.

BPI President and CEO TG Limcaoco said XP’s leadership defined an era of resilience and innovation for BPI, and guided the Bank with discipline and foresight through some of the most challenging periods in our nation’s history. 

“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,” he said.

“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,” added Limcaoco.

XP will be remembered for his wisdom, integrity, and commitment to excellence—values that remain a guiding presence for the institution long after his presidency. His vision was also not just for the Bank, but for a stronger, more inclusive Philippines. XP’s legacy extends far beyond the walls of BPI. He touched the broader business community and the many lives of people he mentored, guided, and inspired along the way. To those who had the privilege of working with him, he was more than a leader—he was a model of excellence, humility, and unwavering faith in the Filipino.

The entire BPI family joins the Loinaz family in grief and remembrance. We honor XP’s remarkable life, his enduring contributions, and the countless ways he helped shape our Bank, our industry, and our nation.