PNB among Top Companies in Corporate Governance

(February 17, 2021) — Philippine National Bank (PSE: PNB) is ranked among the country’s top companies and one of the top scorers in the 2019 ASEAN Corporate Governance Scorecard (ACGS) of the Securities and Exchange Commission (SEC) and the Institute of the Corporate Directors (ICD). The virtual awarding was held last January 29, 2021 via Zoom. The ACGS is a set of questions developed in accordance with corporate governance principles of the Organization for Economic Cooperation and Development (OECD) as well as best corporate governance practices of major publicly listed companies in the ASEAN.

“We are delighted to be cited among the top companies in terms of corporate governance,” said PNB Chairman Florencia G. Tarriela. PNB Vice-Chairman Felix Enrico R. Alfiler added that, “This recognition proves that PNB continues to raise the bar of good governance and ensures the interest of all its stakeholders to achieve long-term and sustainable growth.”

“We thank the SEC and ICD for this prestigious recognition. We continue to adopt the best corporate governance practices in PNB as all our stakeholders will stand to benefit,” adds PNB President and CEO Wick A. Veloso.

In October 2020, PNB was awarded by The Asian Banker for “Best Managed Bank during COVID-19” and “Best CEO Response to COVID-19” for demonstrating excellence in the response to the challenges brought about by the enhanced community quarantine imposed due to the COVID-19 outbreak. The Bank was also named “Best Bank for Corporate Social Responsibility (CSR)” by Asiamoney on its annual Best Bank Awards, which is the first international recognition of the Bank for its CSR efforts. Likewise, PNB was recognized as a Leader for Women by Asiamoney in its Women In Finance supplement. Among 60 banks in Asia, PNB was one of the banks with the highest percentage of women in the overall workforce.