{"id":8045,"date":"2025-02-01T22:26:23","date_gmt":"2025-02-01T21:26:23","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=8045"},"modified":"2025-02-01T22:26:23","modified_gmt":"2025-02-01T21:26:23","slug":"dbp-recognized-for-excellence-in-corporate-governance","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/02\/01\/dbp-recognized-for-excellence-in-corporate-governance\/","title":{"rendered":"DBP Recognized for Excellence in Corporate Governance"},"content":{"rendered":"\n

The government-owned Development Bank of the Philippines (DBP) was acknowledged by the primary authority overseeing government-owned and controlled corporations (GOCCs) for its unwavering adherence to exemplary corporate governance principles, according to senior officials.<\/p>\n

DBP President and Chief Executive Officer Michael O. de Jesus stated that the Bank achieved the second highest rating in the Corporate Governance Scorecard (CGS) assessments conducted by the Governance Commission for GOCCs (GCG), attaining an above-cap score of 102.67%.<\/p>\n

\u201cDBP\u2019s steady exceptional performance in the CGS is attributed to our strong dedication to maintaining the highest standards of good governance, thereby enhancing Bank operations and further facilitating inclusive economic development in the nation,\u201d de Jesus remarked.<\/p>\n

DBP ranks as the 10th largest bank in the country in terms of assets and offers financial support to four key sectors of the economy \u2013 infrastructure and logistics; micro, small, and medium enterprises; environmental initiatives; and social services and community progress.<\/p>\n

GCG is the primary oversight body for GOCCs, established under Republic Act No. 10149 or the GOCC Governance Act of 2011, which standardized the application of CGS, a quantitatively based performance assessment tool that evaluates the corporate governance efforts and practices of GOCCs.<\/p>\n

DBP Chairman Philip G. Lo mentioned that the Bank was also honored with special awards, including the GOCCs for Sustainability Award, Special Recognitions for consistently high CGS scores in the areas of Board Responsibilities and Stakeholder Relationships from 2021 to 2023, and Special Recognition for compliance with the Global Reporting Initiative (GRI).<\/p>\n

He remarked that these accolades inspire the Bank to continuously innovate and diligently strive for excellence in its banking operations while ensuring DBP positively contributes to fulfilling its mandate under the \u201cBagong Pilipinas\u201d initiative of President Ferdinand Marcos, Jr.<\/p>\n

\u201cDBP will persist in being a model of exemplary corporate governance among our counterparts in the public sector, serving as a testament to our commitment to providing outstanding service to our stakeholders,\u201d Lo asserted.<\/p>\n

 <\/p>\n

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The government-owned Development Bank of the Philippines (DBP) was acknowledged by the primary authority overseeing government-owned and controlled corporations (GOCCs) for its unwavering adherence to exemplary corporate governance principles, according to senior officials. 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