Former Finance Secretary Dr. Roberto F. de Ocampo is retiring as Chairman of Philippine Veterans Bank, and this will be formally announced during that bank’s annual stockholders’ meeting tomorrow.

The bank stated that De Ocampo has formally expressed his intention to retire, a decision approved by the Bank’s Board of Directors during its most recent meeting.

“While the Bank’s Board acknowledged his retirement, it likewise expressed its intention to retain Chairman de Ocampo’s services in some capacity, to continue to provide his unique guidance towards realizing the bank’s desired positioning and objectives,” PVB said.

The move comes after De Ocampo also retired as a director of EEI Corporation earlier this week, citing personal reasons. House Speaker Martin Romualdez’s RYM Business Management Corporation owns 49 percent of the bank and had recently sold its 20 percent stake in EEI.

“De Ocampo has served Veterans Bank with distinction for 12 years, initially taking on the role of Chairman and CEO at the behest of the Bangko Sentral ng Pilipinas (BSP) and the Department of Finance (DOF), who entrusted him with the mission to revitalize and reform the institution,” the bank said.

Throughout his tenure, De Ocampo spearheaded comprehensive reforms that transformed the Bank’s governance structure, replaced and strengthened its Board of Directors, and modernized its policy frameworks and management systems.

“His leadership was pivotal in addressing regulatory concerns raised by the BSP and in steering the Bank toward operational excellence,” the bank added.

Among his many accomplishments, De Ocampo successfully championed the passage of a new Veterans Bank Charter, working closely with legislators, regulators, and key stakeholders.

Under his guidance, the Bank navigated the challenges of the COVID-19 pandemic, maintaining financial stability and resilience.

He also led efforts to raise the Bank’s capital to meet BSP’s standards for commercial banks, ensuring its long-term viability and competitiveness.

“The Board of Directors extended its deepest gratitude to Dr. de Ocampo for his unwavering dedication and transformative leadership.

“The Board described his legacy as one of integrity, innovation, and impact—leaving Veterans Bank well-capitalized, profitable, and positioned as the preferred financial institution for veterans, AFP retirees, PNP personnel, and other members of the uniformed services as well as emerging as a vital and ever strengthening member of the country’s private banking sector,” Veterans Bank said.

It noted that, “As De Ocampo concludes his tenure, he leaves behind a legacy, being an outstanding son of a WWII veteran community and a lasting imprint on the institution—one that will continue to guide and inspire its future. He caps his tenure with a fully capitalized bank and a record profit for the first time in its history.”