Yuchengco is new chairman of Asian Bankers Association

Ambassador Alfonso T. Yuchengco, honorary chairman of the Rizal Commercial Banking Corp. and head of a Philippine-based regional conglomerate that bears his name, will assume the chairmanship of the Asian Bankers Association during its 19th general meeting in Seoul, Korea on Sept. 2-4.

Yuchengco takes over from Dr. Yung San Lee, finance minister of the Republic of China (Taiwan) and former chairman of the International Bank of China.

Focus of interest in the forthcoming meeting is the proposed Basle Capital Accord, implementation of which will have a major impact on the banking sector. Experts have been invited to provide an overview of the proposed accord.

ABA is composed of member banks from Asia, the Asia-Pacific Rim countries, Spain, Russia, Uzbekistan and Turkey. Its founder, Ambassador Jeffrey S.L. Koo of Taiwan, currently sits as chairman emeritus.

Since 1986, ABA has convened annual general meetings and seminar in Singapore, Bangkok, Hong Kong, Jakarta, Tokyo, Kuala Lumpur, Seoul, Moscow, Taipei, Istanbul, Tashkent and Manila. The last time the Philippines hosted one was in 1995.

From Seoul, Yuchengco will proceed to New York for the resumption of the United Nations General Assembly sessions. Yuchengco is the Philippine Permanent Representative to the UN.