Philippine National Bank recognized anew for corporate governance

PNB President Florido P. Casuela (third from left) with him are ICD Chairman Atty. Cesar L. Villanueva; ICD President Ma. Aurora D. Geotina-Garcia; and SEC Chairman Atty. Emilio B. Aquino.

10 October 2023 — Philippine National Bank (PSE: PNB) received the prestigious Four Golden Arrow award during the 2023 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards held on September 28 at the Okada Manila in Pasay City.

PNB has been a recipient of the award in recent years, receiving two consecutive four-arrow recognition since earlier this year and three-arrow recognition in 2020.

“This recognition inspires us more to consistently adopt best governance practices while sustaining profitability, delivering an excellent customer experience, and creating more value for our stakeholders,” said PNB President Florido P. Casuela.

The bank received the four-arrow recognition given by the Institute of Corporate Directors (ICD). The Golden Arrow Recognition is the highest corporate governance award given to the country’s top publicly listed companies as derived from the 2023 ASEAN Corporate Governance Scorecard (ACGS) assessment results.

The Corporate Governance Scorecard (CGS) is a tool for evaluating an organization’s management and compliance with government regulations. It was implemented by the Securities and Exchange Commission (SEC) to strengthen the standards and practices for corporate governance carried out by financial institutions in the Philippines.