MegaLink appoints new chairman

MANILA, Philippines - MegaLink, the country’s pioneering ATM and financial services provider, has elected Nestor V. Tan as chairman of the 2009 board of directors. Tan is also the president of Banco de Oro Unibank Inc. (BDO).

The new board will continue to focus on ensuring and sustaining superior technology; establishing leadership in products and services; and, excelling in managing member relationships as it gears up for its 20th year of service.

From being the country’s first shared operational ATM network, MegaLink introduced many technological breakthroughs in banking services while staying true to its guiding principles to exist as a utility for its shareholders and active participants and secondly, to recognize and provide benefit to shareholders and active participants on the basis of their contribution to the network.

The other members of the board are: Justo A. Ortiz, chairman and chief executive officer of Union Bank of the Philippines, vice chairman; Raul B. De Mesa, president of the Bank of Commerce; Reynaldo G. David, president and chief executive officer of the Development Bank of the Philippines; Ma. Eliza V. Gonzalez, president and chief executive officer of LBC Bank; Alex V. Buenaventura, president of One Network Bank; Ricardo A. Balbido, president and chief executive officer of the Philippine Veterans Bank; Ramon Y. Sy, president and chief executive officer of the United Coconut Planters Bank; and, MegaLink president and chief executive officer Benjamin P. Castillo.

MegaLink currently has a network of 19 member banks covering nearly 9.8 million cardholders and more than 2,500 ATM terminals.

As of March this year, there are 7,909 ATMs operated by banks through the two main operators under MegaLink and BancNet.

Of the total ATMs, 5,511 are onsite (located in a bank branch) and 2,398 off-site (situated outside branches such as shopping malls).

Universal and commercial banks account for 6,973 units, thrift banks operate 816 units, and rural banks manage 120.