- Published: Monday, 26 January 2015 14:03
- Written by Gregory J.Millan
- Hits: 3001
Serving God and the Law at a Philippine Bank
by Gregory J.Millan
published in The Wall Street Journal on January 26, 2015 6:00 AM ET
Teresa Ganzon and her husband bought a controlling interest in Bangko Kabayan Inc. in 1989, when it had only one branch, and it now ranks as one of the biggest rural banks in the Philippines. Ms. Ganzon has faced the usual array of developing country business risks, but in an unusual way, because she is also a leader in the Economy of Communion, an international network of more than 800 businesses committed to putting into practice the Catholic social doctrine behind Pope Francis’s controversial comments about business and the economy. In a press conference during his recent trip to the Philippines, the Pope condemned corruption, and even spoke of kicking corrupt officials “where the sun doesn’t shine.” Ms. Ganzon discussed with Risk & Compliance Journal how Bangko Kabayan has grown while doing business in a manner consistent with that doctrine, in one of the world’s more corrupt countries.