DBP RECOGNIZED FOR GOOD CORPORATE GOVERNANCE

DBP was presented with an award of excellence by the Governance Commission for GOCCs and the Institute of Corporate Directors for achieving one of the highest scores on the Corporate Governance Scorecard (CGS) for government-owned and controlled corporations. The awarding ceremony was held on November 24, 2017 at the Dusit Thani Hotel in Makati City.

DBP ranked fourth out of the 10 awardees with a score of 91.50% based on 2016 Assessment for 2015 Operations. The bank also posted the biggest leap among the awardees, jumping from #11 last year to #4 this year with a 28.8point improvement. It also earned a perfect score of 35% in the section on Disclosure and Transparency.

The CGS is a quantitatively-driven evaluation tool extracted from existing and globallyaccepted standards and practices. It serves as an instrument to assess the Corporate Governance performance of GOCCs using a methodology benchmarked against the OECD Principles of Corporate Governance and ASEAN Corporate Governance Scorecard. It also aims to recognize well-governed GOCCs and raise Corporate Governance standards and practices.

In photo: DBP president and chief executive officer Cecilia C. Borromeo receives the award of excellence with DBP first vice president Atty. Perla Melanie Caraan and DBP directors Miguel Abaya, Luis Bonguyan, and Rogelio Garcia.