RCBC chief leads 31st ABA meet

MANILA, Philippines - Rizal Commercial Banking Corp. (RCBC) president and chief executive officer Lorenzo V. Tan, concurrently the chairman of the Asian Banker’s Association (ABA), will spearhead the upcoming 31st ABA General Meeting and Conference to be hosted by Bank Muscat at Shangri-La’s Barr Al Jissah Resort & Spa in Muscat, Oman this November. This will be the first time the general meeting and conference will be held in the Middle East. In the recent planning committee held at Bank Muscat in Oman, Tan gave an overview of the major global and regional market developments that will likely impact the Asian banking sector. He cited trends and developments of the global and the regional markets in significance with the banks in the region; QE tapering and its influence on the instability of the emerging markets; Basel III implementation and the technological emergence of Bitcoins; and similar developments that will lead to an upward increase in shadow banking.