The shareholders of electronic banking consortium BancNet, Inc. elected the company’s Board of directors during their annual stockholders’ meeting held last week.
Nestor Tan and Fabian Dee were given a fresh mandate to lead the company as chairman of the Board and president respectively, for the term 2023-2024.
Tan is currently the president and CEO of BDO while Dee is the president and CEO of Metrobank.
Dee told the stockholders that 2022 was a record year for BancNet while it played a pivotal role in expanding digital payments as the country returned to near normalcy and the economy gradually recovered with the waning of the Covid-19 pandemic.
“Our two main businesses–InstaPay and ATM reached new heights in 2022, setting new records in both volume and value. As a result, we closed the year with a net income of P99.14 million and an ROE of 9.82 percent,“ he reported.
“We expect the upward trend in transactions to continue in 2023 and beyond. For Instapay, the interoperable BillsPay Ph, a service we launched in 2022; our various efforts to expand the adoption of payments to merchants using a QR Ph code; and a new use case we will introduce this year will contribute to this trend,” Dee added.
