Sterling Bank of Asia Recognized as One of BSP's 30 Outstanding Institutional Partners

Manila, Philippines – August 9, 2024 – Sterling Bank of Asia (SBA) has been honored as one of the 30 outstanding institutional partners by the Bangko Sentral ng Pilipinas (BSP). This prestigious recognition was presented during the 2024 Outstanding BSP Stakeholders Appreciation Ceremony (OBSAC), held on August 2, 2024, at the BSP's Manila Head Office.

In his address at the ceremony, BSP Governor Eli M. Remolona, Jr. highlighted the significance of the awards, stating, "As we bestow our latest set of awards, we recognize that the two decades of OBSAC are evidence of the rare community of partners with which the BSP is blessed. We hope you, our partners, take pride in the role you play in the BSP's efforts to provide an enabling environment for growth."

The OBSAC, launched in 2004, has been a platform for the BSP to acknowledge outstanding partners who actively support its mandates of maintaining price stability, ensuring financial stability, and promoting a safe and efficient payments and settlements system.

Sterling Bank of Asia was specifically acknowledged for its exceptional performance in sourcing its total currency requirements through the Cash Service Alliance (CSA), achieving the highest percentage among all CSA-participating banks. This accolade underscores SBA's proactive approach to enhancing operational efficiencies and its unwavering commitment to supporting BSP's initiatives.

The bank's strategic involvement in the Cash Service Alliance program not only ensures a stable and efficient currency supply chain but also contributes significantly to the overall stability and reliability of the Philippine financial system.

Mr. Cecilio Paul San Pedro, President and CEO of Sterling Bank of Asia, expressed his gratitude for the recognition, saying, "On behalf of Sterling Bank of Asia, I am honored to accept this prestigious award. This recognition underscores our commitment to supporting BSP's mandate and initiatives on price stability, financial stability, a safe and efficient payment system, and financial inclusion."

He added, "We are grateful and dedicated to our mission of excellence. This award reflects the hard work and dedication of the entire Sterling Bank team."

This recognition honors SBA's accomplishments and highlights the bank's commitment to contributing significantly to the growth and stability of the nation's financial landscape.

For more information about Sterling Bank of Asia and its programs, please visit www.sterlingbankasia.com.

In Photo (Left to Right): BSP Governor Eli M. Remolona Jr., SBA Senior Vice President Luisito S. Mayor, SBA President & CEO Cecilio D. San Pedro, SBA First Vice President Joseph T. Sulit, and BSP Deputy Governor for Regional Operations and Advocacy Sector Bernadette Romulo–Puyat at the recognition ceremony for the 2024 Outstanding BSP Stakeholders Appreciation Ceremony (OBSAC) held on August 2 at the BSP’s Manila Head Office.