Mr. Eugene S. Acevedo, ABA Chairman, and President and CEO of the Rizal Commercial Banking Corporation opened his remarks during the second day of the 39th ABA General Meeting Proper on November 10, 2023 by expressing sincere appreciation to all the session speakers for generously sharing their valuable insights during the enriching two-day conference.

Acknowledging the challenges posed by geographical distances, resource limitations, and the ongoing pandemic, Mr. Acevedo highlighted the association’s resilience. Despite these hurdles, he proudly reported that the ABA successfully conducted a series of impactful virtual training sessions. He emphasized the association’s unwavering commitment to continually enhance its value, adapting to the evolving landscape.

Providing a comprehensive overview, Mr. Acevedo detailed major activities and shared insights into the intricacies of virtual training sessions conducted over the past years. Additionally, he shed light on the meaningful meetings and discussions ABA delegates engaged in with member countries in recent years, fostering collaboration and understanding.

An important milestone was reached as Mr. Acevedo announced the ABA’s approval of the membership application of the International Compliance Association (ICA), underscoring the association’s dedication to expanding its network and partnerships.

Transitioning to the financial aspect, Mr. Acevedo presented a meticulous audit report of the association’s financial situation for the previous year. Supplemented by an unaudited financial statement as of September 30, 2023, he assured the audience that the financial position of the association remained robust and healthy. Notably, the books for this year revealed a cash balance of USD 1.227 million, reflecting an impressive increase of over 8 percent compared to the beginning of 2023. This financial stability positions the ABA to navigate challenges effectively and continue its impactful initiatives with confidence.