MANILA, Philippines — Four Filipina business leaders have been named among Fortune’s 100 Most Powerful Women in Asia for 2026, highlighting the growing influence of Filipino women across financial technology, banking and real estate.
Leading the Philippine contingent is Martha M. Sazon, president and chief executive officer of Mynt, the company behind e-wallet giant GCash. She ranked 35th on Fortune’s list, making her the highest-ranked Filipina executive for the second consecutive year.
Joining Sazon on the regional power list are Lynette V. Ortiz, president and CEO of Land Bank of the Philippines, at No. 77; Lourdes T. Gutierrez-Alfonso, president and CEO of Megaworld Corp., at No. 87; and Ana Maria A. Delgado, president and CEO of UnionBank of the Philippines, at No. 98.
Fortune’s annual ranking covers women from 14 markets across the Asia-Pacific region and considers factors including the scale and performance of the businesses they lead, innovation, influence, career trajectory and broader impact. Fortune said its selection process is editorial and data-driven, drawing on public filings, company disclosures, independent reporting and nominations.
Sazon leads the Philippine contingent
Sazon’s 35th-place ranking puts her two places higher than her 2025 position of No. 37.
Her recognition comes at a particularly significant moment for Mynt, which is preparing for the highly anticipated initial public offering of GCash on the Philippine Stock Exchange.
The planned listing is expected to raise as much as P60.9 billion, potentially making it the largest IPO in Philippine history. The offering is scheduled for Oct. 20.
GCash has become one of the Philippines’ most widely used financial technology platforms, with Fortune reporting about 90 million registered users and roughly 41.5 million monthly active users.
Sazon has been at the helm as GCash expanded beyond mobile payments into a broader digital financial-services ecosystem, including savings, investments, insurance and other financial products.
The company’s upcoming stock-market debut has also placed greater attention on the scale of the business she leads.
Ortiz ranks 77th as LandBank posts strong earnings
LandBank President and CEO Lynette Ortiz placed 77th, compared with No. 72 last year.
Ortiz became the 11th president and CEO of LandBank after decades in the banking industry. She previously served as president and CEO of Standard Chartered Bank Philippines, becoming the first Filipino to hold that position.
Under her leadership, LandBank reported record net income of P44 billion in 2025, up 24% from the previous year, according to Philippine reports.
The state-owned lender also declared P32.6 billion in dividends to the national government in 2026, underscoring its role in financing government priorities and supporting the Philippine economy.
Her inclusion also reflects the importance of government-linked financial institutions in Fortune’s assessment of business leadership across Asia.
Gutierrez-Alfonso climbs to No. 87
Megaworld President and CEO Lourdes T. Gutierrez-Alfonso ranked 87th, improving from No. 92 in 2025.
Gutierrez-Alfonso has been with Megaworld since 1990, joining the property developer about six months after it was established. She became president and CEO in June 2024.
She oversees a property group with businesses spanning townships, office developments, residential projects, lifestyle malls and hotels.
Megaworld reported P24 billion in net income in 2025 on revenue of about P86 billion. The company subsequently moderated some of its 2026 project launches and capital spending, while first-half net income still increased by 5% year on year.
Her improved position on Fortune’s list comes despite a more challenging operating environment for the property sector.
Delgado rounds out the Philippine list
UnionBank President and CEO Ana Maria A. Delgado placed 98th on the 2026 ranking, compared with No. 94 a year earlier.
A fifth-generation member of the Aboitiz family, Delgado joined UnionBank in 2003 after working at Citibank. She became the bank’s president and CEO in January 2025.
In March 2026, Delgado became the first woman to lead the Bankers Association of the Philippines, nearly 80 years after the organization was established.
She has also advocated greater use of artificial intelligence in banking, comparing its potential impact with the earlier transformation brought about by internet banking.
UnionBank reported P9.9 billion in net income in 2025, down from the previous year amid one-off charges. The bank generated P83.2 billion in revenue and served 18.6 million customers, according to Philippine reports.
Four women reflect different sides of Philippine business
The four executives represent distinctly different parts of the Philippine economy.
Sazon leads one of the country’s largest fintech platforms as it prepares for a landmark public listing. Ortiz heads the country’s largest government-owned bank, while Gutierrez-Alfonso oversees one of the Philippines’ major property developers. Delgado leads a major commercial bank while also taking a prominent role in the country’s banking industry.
Their inclusion comes as Asian business leadership continues to evolve, with Fortune’s 2026 list covering CEOs, chairs and other senior executives from major companies, regional businesses and high-growth ventures across the region.
Philippine representation has declined since 2024
Despite the strong showing by the four executives, the number of Filipina leaders on Fortune’s list has fallen since the ranking was first published.
The Philippines had seven representatives in the inaugural 2024 ranking, followed by five in 2025 and four this year.
The decline does not diminish the individual positions of the four executives, but it provides broader context for the country’s representation on one of Asia’s prominent women-in-business rankings.
Fortune’s 2026 list ultimately places four Filipina executives among a regional group whose influence spans technology, finance, property, consumer businesses and other major sectors.
For the Philippines, their recognition comes at a time when digital finance, banking modernization and large-scale property development are playing increasingly important roles in the country’s economic landscape.
