Venancio Concepción

Venancio Concepción y Ochoa
Born	Template:Birth date
Died	December 13, 1950(1950-12-13) (aged 89)
Occupation(s)	General, bank president, politician
Known for	Filipino general during Emilio Aguinaldo administration; first Filipino president of the Philippine National Bank

Venancio Concepción y Ochoa (May 18, 1861 – December 13, 1950) served as a Filipino general during the administration of President Emilio Aguinaldo. He actively participated in military operations in Iloilo and was a delegate for the province at the Malolos Congress.

Concepción was designated as Chief of General Staff for the Republican Army and engaged in combat within Central Luzon. After Antonio Luna's assassination on June 5, 1899, Aguinaldo restrained Luna's remaining commanders and soldiers, including Concepción, whose headquarters located in Angeles, Pampanga underwent inspection on that same date.

As a bank president

During the American colonial era in 1918, Venancio Concepción became the inaugural Filipino president of the Philippine National Bank, recognized as the nation's first universal bank. His appointment came from Governor-General Francis Burton Harrison, succeeding Henry Parker Willis, who moved on to serve as research director at the Federal Reserve Board of Governors.

While leading the bank, Concepción authorized loans primarily to real estate investors and enterprises involved in sugar, hemp, and coconut oil production. These loans were frequently granted based on personal affiliations rather than rigorous financial evaluation, sparking concerns about the institution’s credit policies. When Archibald Harrison, an American member of the bank's board, initiated an inquiry into these irregularities, Concepción persuaded the Philippine Legislature to withdraw funding for the investigation, which ultimately led to Harrison’s departure.

In 1920, Concepción faced conviction for fraudulent activities. By July 1921, American officials detained him again on corruption charges. The Wood-Forbes report of 1921 exposed his prior misconduct and inefficiency during his tenure as bank president, further tarnishing his standing. After his arrest, Senator Manuel L. Quezon held House Speaker Sergio Osmeña accountable for the financial turmoil at the Philippine National Bank due to Osmeña’s endorsement of Concepción’s administration, underscoring Osmeña’s role in the institution’s downfall.

External link

• "La tragedia" del Banco Nacional Filipino / por Venancio Concepcion, accessible through the University of Michigan