CEBU CITY, Cebu, Philippines — The Bank of the Philippine Islands (BPI), the oldest bank in Southeast Asia, launched recently the BPI Cebu Museum as part of its 160th anniversary celebration. Guests of honor Cebu Governor Gwendolyn Garcia and Cebu City Mayor Michael Rama, assisted by BPI Chairman Jaime Augusto Zobel de Ayala and BPI President and CEO Aurelio R. Montinola III, unveiled the museum marker.

In his speech, Ayala noted the special partnership between BPI and Cebu, saying that “as we celebrate out 160th year, we find it fitting to be here today to acknowledge Cebu's heritage, from defending our civilization to assimilating the best foreign practices and expressing ourselves in artistry that reaches out to the global community proudly carrying the name of the Filipino and Cebuano to the world."

He recalled that when Ferdinand Magellan arrives in the Philippines, Cebu became the first settlement and center of trade. It was only when Miguel Lopez de Legaspi moved to Manila that focus shifted to Luzon, but when the Americans came, they once more set their eyes on Cebu as a center of growth for the Visayas region under the Thomasite educators. "BPI saw the potential for growth in the area as far back as 1924 when we established our first branch in Cebu and we have been here ever since,” said Ayala.

For his part, Montinola recalled that through BPI’s history, the bank had always seen Cebu as a vital partner. "Owing to the heritage of BPI as an institution, there is a special place in our hearts for the richness of our country's history,” he said. “Today, as we look back at the road we have travelled, cherishing the best mementos that remind us of our milestones, we are honored to build our first museum here in Cebu, which will be a haven of preeminent heritage, creativity and innovation.”