Advisories
National Disaster Resilience Month 2024. Read here.
Savings Consciousness Week 2024. Read here.
Notice to the Public on Individuals Posing as DBP Employees. Read here.
Advisory on End-of-Quarter System Maintenance on June 30, 2024. Read here.
New Check Design Standards. Read here.

DBP Corporate Governance Scorecard* for 2023**

QuestionYesNoComplianceReference Links / Suporting Documents
  1. Stakeholder Relationships
  1. Does the GOCC disclose a policy that:
  1. Stipulates the existence and scope of its effort to
    address customer’s welfare?

DBP consistently subscribes to its fundamental values of commitment to public interest, transparency, professionalism, sincerity, efficiency, and responsiveness. With these fundamental values, DBP consistently strives to provide banking and financial products and services in a fair and equitable manner that promotes consumer empowerment and confidence in the banking and financial services sector.True to its commitment towards customer centricity, DBP has implemented several programs and policies including the (1) DBP Manual of Corporate Governance (MCG) which details its stakeholders as well as its corresponding duties and obligations and (2) DBP Customer Feedback and Complaints Handling Program which is geared towards ensuring improved customer service experience. More details are disclosed in DBP’s 2023 Annual Corporate Governance Report and website.

In addition, DBP adheres to the Circular on the National Occupational Safety and Health Policy Framework (CSC-DOH-DOLE JMC 1, s.2020) by having its own Safety and Health committee to act as the policy-making body pertaining to the safety and health of all DBP’s personnel, workers, clients, and guests.

DBP’s Citizen’s Charter also contains the various products and services it offers as well as the procedure for filing complaints and feedback.

  1. Section II.B Relationship with Stakeholders, DBP’s Manual of Corporate Governance (Page 4 – 6), Corporate Governance Page, DBP Website
  2. Citizen’s Charter 2024 (1st Edition), Citizen’s Charter Page, DBP Website
  3. DBP Complaints Handling Program, DBP Website
  4. Section E., Complaints Handling, Corporate Governance Page, DBP Website
  5. Quality Policy Statement, About DBP, DBP Website
  6. Statement on Zero Tolerance for Fraud, Corruption and Malpractice About DBP, DBP Website
  7. Section G.1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP
    Website
  8. “Occupational Safety”, Section G.3 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Elaborates its efforts to interact with the
    communities in which they operate?

As a catalyst for a progressive and poverty-free Philippines, DBP is committed to upholding its corporate citizenship program through initiatives that promote the welfare of the Filipino people particularly the underprivileged through various flagship programs. Further details of DBP’s policy relative to community interaction are disclosed in DBP’s 2023 Annual Corporate Governance Report.

DBP’s website also has a dedicated section for its policy on community involvement as well as social policy statement.

  1. DBP’s Policy on Community Involvement, DBP Website
  2. Section G.1 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Social Policy Statement, Social Services & Community Development Page, DBP Website
  1. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable
    development?

DBP holds itself to the highest international standards for environmental and social responsibility. It is one of the first Philippine banks to integrate and implement environmental considerations into all aspects of its
operations and services, asset management, and business decisions. Further details of its policy are disclosed through the 2023 Annual Corporate Governance Report.

Moreover, a separate section on DBP’s Environmental Policy can be accessed through its website.

  1. Section G.1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. DBP Environmental Policy Statement, Environment and Climate Change Page, DBP Website
  1. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
  1. Customer health and safety

Consistent with the ARTA and GCG requirements, DBP implemented the mandatory Client Satisfaction Measurement (CSM) for various transactions across business units of the Bank thereby causing the merger of the in-house and outsourced customer satisfaction surveys into one conducted throughout the year with an expanded coverage, which commenced in 2023.

DBP likewise continued implementation of its various development programs and initiatives including programs/activities on financial literacy and awareness in 2023. These were in the form of seminars, roadshows on various products and services, and forums in the areas of development, agriculture, financing, investments, and business opportunities.

In addition, occupational safety is continuously being conducted via ocular inspections of DBP’s premises to ensure the safety of its personnel, workers, clients, and guests.

Details of these programs/activities may be accessed through DBP’s 2023 Annual Corporate Governance Report and Corporate Governance Page of the DBP website.

  1. Section G.1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. DBP Complaints Handling Program, Corporate Governance Page, Transparency Seal, DBP Website
  3. 2023 Financial Education and Awareness Program, Corporate Governance Page, DBP Website
  4. “Occupational Safety”, Section G.3 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Interaction with the communities

As a catalyst for a progressive and poverty-free Philippines, DBP is committed to upholding its corporate citizenship program through initiatives that promote the welfare of the Filipino people particularly the underprivileged through DBP Resources for Inclusive and Sustainable Education (RISE) as well as outreach programs, through its donations and contributions, which advocates for community development through supporting various advocacy projects and outreach activities. Further details are disclosed in the 2023 Annual Corporate Governance Report and the DBP Website.

  1. Section G.1 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Social Services & Community Development, Development Financing, DBP Website
  1. Environmentally-friendly value chain

DBP’s commitment goes beyond mere compliance. DBP finances projects that promote environmental and social well-being, prioritizing renewable energy, climate adaptation, and sustainable infrastructure. It likewise carefully evaluates and mitigates potential environmental and social risks associated to ensure projects meet environmental and social standards, minimizing potential harm. Additionally, it implements initiatives to reduce its own environmental footprint.

DBP also fosters a culture of sustainability as well as engages with stakeholders, including borrowers, investors, and communities, to identify and address sustainability challenges and promote sustainable development. It also regularly reports on its progress in attaining its commitment to sustainability.

Specific details of these activities are disclosed in 2023 Annual Corporate Governance Report and the DBP Website.

  1. Section G.1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Environment and Climate Change, Development Financing Page, DBP Website
  1. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?

DBP continuously strengthens its corporate social responsibility (CSR) efforts, enabling it to share the benefits of its continued financial success with disadvantaged sectors of Philippine society.

Both the Bank’s Annual and Sustainability Report and Annual Corporate Governance Report contain updates on its CSR efforts. The DBP website also contains a downloadable copy of the reports, as well as a section featuring the Bank’s CSR policies and efforts on customer welfare, interaction with communities, environment-friendly value chain, and employees’ welfare and development. The Bank likewise submits quarterly reports on its fund utilization and program beneficiaries to the Commission on Audit.

  1. Section G.2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Corporate Social Responsibility Programs, DBP Website
  1. Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights. Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (e.g. customers, suppliers, general public etc.) can use to voice their concerns and/or complaints for possible violation of their rights?

DBP strictly adheres to the relevant Philippine laws, policies, and mechanisms pertaining to complaints handling. The Corporate Governance Page of the DBP Website has a section detailing its complaints and investigation process and procedures for reporting complaints against employees. Contact details of the Customer Experience Management Department and the 24/7 ATM Hotline is likewise visible in this section and at the end of each webpage.

Details on how stakeholders can use to voice their concerns and/or complaints for possible violation/s of their rights may also be found in the 2023 Annual Corporate Governance Report, DBP Website, and DBP’s Citizen’s Charter.

  1. Section G.7 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section E. Complaints Handling, Corporate Governance Page, DBP Website
  3. DBP Complaints Handling Program, DBP Website
  4. Citizen’s Charter 2024 (1st Edition),Citizen’s Charter Page, DBP Website
  1. Performance-enhancing mechanisms for employee participation should be permitted to develop.
  1. Does the GOCC explicitly mention the health, safety and welfare policy for its employees?

DBP ensure a positive work environment which is vital to the well-being of its employees. The policies relative to DBP employees’ safety, health, and welfare are disclosed in DBP’s 2023 Annual Corporate Governance Report.

Relevant details can also be found in the DBP Manual of Corporate Governance and the DBP Website.

  1. Section G.3 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section E. Complaints Handling, Corporate Governance Page, DBP Website
  3. DBP Complaints Handling Program, DBP Website
  4. Section II.B.10 Officials and Employees, Manual of Corporate Governance, Corporate Governance Page, DBP Website
  1. Does the GOCC publish data relating to health, safety and welfare of its employees?

DBP’s 2023 Annual Corporate Governance Report contains details of its employee engagement programs/activities, medical and psychosocial health promotion and disease prevention, annual vaccination activity, and physical fitness activities, among others, for CY 2023. Details of DBP’s Training and Development Program for CY 2023 is also disclosed in its website.

  1. Section G.3 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section A.6 Employees’ Training and Development Programs, Corporate Governance Page, DBP Website
  1. Does the GOCC have training and development programmes for its employees?

DBP provides a learning and development agenda that charts the path towards contributing to the Sustainability Development Goals and expanding its financial inclusion mandate through innovation and distinct customer experience.

Details of DBP’s training and development programs for employees are disclosed in the 2023 Annual Corporate Governance Report. The list of these programs and their corresponding description and duration, on the other hand, may be accessed through the Corporate Governance Page of the DBP Website.

  1. Section G.3 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section A.6 Employees’ Training and Development Programs, Corporate Governance Page, DBP Website
  1. Does the GOCC publish data on training and development programs for its employees?

DBP offered a total of 237 training and development programs in CY 2023. The program title with its corresponding description and average hours per training held are disclosed in the DBP 2023 Annual Corporate Governance Report and the DBP website.

  1. Section G.3 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section A.6 Employees’ Training and Development Programs, Corporate Governance Page, DBP Website
  1. Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
  1. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?

DBP continuously complies with all applicable laws that protect employees against any form of unlawful discrimination or retaliation. It adopted its own Whistleblower Protection Policy through DBP Circular No. 16, S. 2013 not only to encourage and establish guidelines on reporting and investigation of allegations of illegal activity.

A copy of the policy, as well as the following, are downloadable from the Corporate Governance Page of the DBP Website: (1) DBP Complaints and Investigation Process; (2) Related Philippine Laws, DBP Policies, and Government Complaints Mechanisms; (3) Procedure in Reporting Complaints Against Employees; and (4) Contact Details for filing feedback or complaints.

The 2023 Annual Corporate Governance Report also includes a section on the Whistleblower Protection Policy while DBP’s Citizen’s Charter also contains a section on how clients may send feedback and complaints to DBP.

  1. Section G.5 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section G.6 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section E. Complaints Handling, Corporate Governance Page, DBP Website
  4. Citizen’s Charter 2024 (1st Edition),Citizen’s Charter Page, DBP Website
  1. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?

DBP’s Whistleblower Protection Policy establishes measures that ensure that Whistleblowers and Witnesses are adequately protected against any form of retaliation.

The 2023 Annual Corporate Governance Report contains relevant details on the policy as well as complaints handling. Full details of the procedures/mechanisms in place, on the other hand, may be downloaded from the Corporate Governance Page of the DBP website.

  1. Section G.3 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section A.6 Employees’ Training and Development Programs, Corporate Governance Page, DBP Website
  1. Does the GOCC publish data on training and development programs for its employees?

DBP offered a total of 237 training and development programs in CY 2023. The program title with its corresponding description and average hours per training held are disclosed in the DBP 2023 Annual Corporate Governance Report and the DBP website.

  1. Section G.6 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.16 Whistleblower Protection Policy, Corporate Governance Page, DBP Website
  3. Section E.1 DBP Complaints and Investigation Process, Corporate Governance Page, DBP Website
  4. Section E.1 (a) Related Philippine Laws, DBP Policies, and Government Complaints Mechanisms
  5. Section E.2 Procedure in Reporting Complaints Against Employee, Corporate Governance Page, DBP Website
  6. Citizen’s Charter 2024 (1st Edition),Citizen’s Charter Page, DBP Website
  1. Disclosure and Transparency
  1. Quality of the Annual Report. Does the GOCC’s AR disclose the following items:
  1. Corporate Objective

DBP’s Strategy Map, Performance Scorecard approved by GCG, and its Performance Scorecard and Monitoring Report all contain details of the Bank’s corporate objectives. A copy of these documents may be downloaded from the DBP website.

  1. Corporate Philosophy, DBP Website
  2. DBP 2023 Strategy Map, Corporate Governance Page, DBP Website
  3. Section D.3 2023 Performance Scorecard approved by GCG, Corporate Governance Page, DBP Website
  4. Section D.5 2023 Performance Scorecard and Monitoring Report, Corporate Governance Page, DBP Website
  5. Section D.3 2024 Performance Scorecard, Corporate Governance Page, DBP Website
  6. Section 1, DBP 2024 Strategy Map, Transparency Seal, DBP Website
  1. Financial performance indicators

The Bank’s 2023 Annual Corporate Governance Report, 2023 Quarterly Financial Reports, DBP’s Performance Scorecard approved by GCG, and DBP’s Performance Scorecard Monitoring Report which features its financial performance may be downloaded from the Corporate Governance Page of the DBP Website.

The 2023 DBP Annual and Sustainability Report will be available for viewing and downloading via the DBP website later this year.

  1. Section D.3 2023 Recalibrated Performance Scorecard, Corporate Governance Page, DBP Website
  2. Section D.5 2023 Performance Scorecard and Monitoring Report, Corporate Governance Page, DBP Website
  3. Section C.2 2023 Quarterly Financial Reports, Corporate Governance Page, DBP Website
  4. Section H.3 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Non-financial performance indicators

DBP’s Performance Scorecard approved by GCG as well as the Performance Scorecard and Monitoring Report for CY 2023 feature the non-financial strategic measures in its performance such as the percentage of satisfied customers (individual customers and business organizations), institutionalization of sustainability principles, percentage of service availability of ATMs, integration of competency standards, implementation of ICT projects, and integrated management system certification.

A copy of these documents may be downloadable from the DBP Website.

  1. Section D.3 2023 Recalibrated Performance Scorecard, Corporate Governance Page, DBP Website
  2. Section D.5 2023 Performance Scorecard and Monitoring Report, Corporate Governance Page, DBP Website
  1. Details of whistleblowing policy

A copy of DBP’s Whistleblowing Policy may be downloaded from the Corporate Governance Page of its website. Salient provisions of the policy are also included in the DBP 2023 Annual Corporate Governance Report.

  1. Section G.5 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section G.6 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section D.16 Whistleblower Protection Policy, Corporate Governance Page, DBP Website
  1. Biographical details (directors)

Biographical details of the DBP Board of Directors are disclosed through the DBP website and the DBP 2023 Annual Corporate Governance Report.

  1. Section A.1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section A.1 (e) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section A.5 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  4. Section B. 2 Biographical Details of Directors, Corporate Governance Page, DBP Website
  5. Section B.5 Membership in Governing Board of Subsidiaries/Affiliates
  1. Trainings or continuing education (directors)

All training programs and seminars attended by the Board of Directors in CY 2023 are disclosed through the DBP Website and the 2023 Annual Corporate Governance Report.

  1. Section A.4 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.13 Continuing Education Program for the Members of the Board, Corporate Governance Page, DBP Website
  1. Are the Annual Reports downloadable from the GOCC’s website?
  1. Does the GOCC’s website contain a statement confirming the company’s full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?

Yes, DBP remains fully compliant with the GCG Code of Corporate Governance (GCG Memorandum Circular No. 2012-07) and has a framework of Governance comprised of corporate governance principles. A certification attesting to the Bank’s compliance may be downloaded from the Bank website.

  1. Section D.17 Statement of Full Compliance with the Code of Corporate Governance, Corporate Governance Page, DBP Website
  1. Timely filing/release of annual/financial reports
  1. Are the audited annual financial report/statement released within 60 days upon receipt from COA?
  1. Is the Annual Report released within 90 days from the release of the audited financial report?
  1. Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?
  1. Responsibilities of the Board
  1. Corporate Vision/Mission
  1. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?

The DBP Board of Directors reviews and approves the vision, mission, and strategy of the Bank on an annual basis during the conduct of a Board Retreat. The Board Retreat for CY 2024 was held las 24 October 2023 at the Bulwagan ng Diwang Pilipino.

During the activity, Sector Heads discussed performance assessment results and action plans while the Strategic Planning Group presented the synthesis of the enterprise environmental scan to provide context to the strategy review.

During the Board Retreat, the enhanced strategy map was confirmed wherein the bank’s 2040 vision statement was revised to: “By 2040, DBP is a world-class infrastructure and development financial institution and a proven catalyst for a sustainably progressive and inclusive Philippines.” The balanced scorecard for calendar year 2024 was also presented for confirmation.

All Sector Heads including select members from the Bank’s Senior Management attended the Board Retreat. Members of the Board in attendance include Chairman Dante O. Tiñga, President and Chief Executive Officer (PCEO) Michael O. de Jesus, Dir. Roberto V. Antonio and Dir. Jaime Z. Paz.

A copy of the Bank’s DBP Strategy Map for 2024 as well as the 2024 Performance Scorecard is downloadable from the Bank’s Website.

  1. Section A. 1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.3 2024 Performance Scorecard, Corporate Governance Page, DBP Website
  3. Section 1, DBP 2024 Strategy Map, Transparency Seal, DBP Website
  1. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?

Pursuant to the DBP Manual of Corporate Governance, the Board of Directors continuously monitors and oversees the implementation of the Bank’s corporate strategy as part of their duties and responsibilities.

In addition to the annual strategy review during the Board Retreat, members of Senior Management regularly report to the Board and its various committees on matters relating to and affecting bank strategy. Particularly, quarterly performance results based on the organization’s balanced scorecard is also presented to the Board of Directors prior to its submission to GCG.

The Strategic Planning Group submits Quarterly Performance Scorecard Monitoring Reports to the Board of CY 2023 reports were submitted, specifically on the following dates: 28 April 2023 1st Quarter Performance Scorecard Monitoring Report), 26 July 2023 (2nd Quarter Performance Scorecard Monitoring Report), and 18 November 2023 (3rd Quarter Performance Scorecard Monitoring Report).

Copies of these reports may be downloaded from the Corporate Governance Page of the DBP Website.

  1. Section A. 1 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.5, 2023 Performance Scorecard and Monitoring Report, Corporate Governance Page, DBP Website
  1. Did the GOCC achieve 90% in the PES?
  1. Code of ethics or conduct
  1. Are the details of the code of ethics or conduct disclosed?

Yes. DBP continuously upholds the standards of ethics expected from all civil servants working in the government, including the members of the Board. Corporate principles and values are likewise laid down for better understanding. A copy of the policy may be downloaded from the DBP website.

Salient points of DBP’s policies on the code of ethics (i.e., conflict of interest, the conduct of business and fair dealings, and receipt of gifts from third parties) are also included in the 2023 Annual Corporate Governance Report and Manual of Corporate Governance.

  1. Section B. 1 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.13, The DBP Code of Ethics, Corporate Governance Page, Website
  3. Section D.12, Manual of Corporate Governance, Corporate Governance Page, DBP Website
  4. Section D.15, No Gift Policy, Corporate Governance Page, DBP Website
  1. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?

Pursuant to the DBP Code of Ethics, members of the Board, officers and employees shall at all times be accountable to the people and shall discharge their duties with utmost responsibility, integrity, competence and loyalty, act with patriotism and justice, lead modest lives and uphold public interest over personal interest. The Code contains norms of personal conduct that should be observed in the discharge of duties, prohibited acts and transactions, and other relevant ethical conduct that the concerned personnel must strive to do. A copy of the Code may be downloaded from the DBP website.

The importance of compliance with DBP’s Code of Ethics is also reiterated in the 2023 Annual Corporate Governance Report.

  1. Section B. 2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.13 The DBP Code of Ethics, Corporate Governance Page, Website
  1. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?

Guided by its Enhanced Corporate Governance Framework (ECGF) 2019-2022, DBP continues to implement key policies, programs, and initiatives to sustain good corporate governance at all levels of the organization in 2023.

It coordinated and monitored the monthly meetings of the Governance Circles established across the Head Office, Branches and Lending Centers, on matter such as the DBP Mental Health Program, Sustainability Governance Structure of Occupational Health and Safety, DBP Quality Workplace and Recognition, Republic Act No. 11313 or the “Safe Spaces Act”, among others, to promote good governance policies and best practices within the organization.

In addition, DBP maintains the conduct of its mandatory Corporate Governance seminars and capacity-building activities for Bank personnel. A module on Corporate Governance, Ethics and Public Accountability is also included in the Management Associates Program of the Bank.

DBP likewise continued to implement policies as well as other programs and initiatives, especially those monitoring compliance with the code of conduct. These include DBP’s Whistleblower Protection Policy, No Gift Policy, Policy on Interlocking Positions, and People’s Freedom of Information Manual. These are likewise disclosed in DBP’s 2023 Annual Corporate Governance Report.

  1. Section B.2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section D.13 The DBP Code of Ethics, Corporate Governance Page, Website
  3. Section D.16 Whistleblower Protection Policy, Corporate Governance Page, DBP Website
  4. Section D.15, No Gift Policy, Corporate Governance Page, DBP Website
  1. Does the Board appoint a Nomination Compensation/Renumeration Committee?

The functions of a Nominations and Remunerations Committee are being performed by DBP’s Governance Committee. The Committee guides and advises the Board of Directors in ensuring the practice of good corporate governance within the institution through the review and formalization of management recommendations on matters relating to human resource, executive and management development program and succession management policies for approval of the DBP Board.

Pertinent details of the Committee are included in the 2023 Annual Corporate Governance Report.

The Committee’s Charter and membership may be downloaded from the Corporate Governance Page of the DBP Website.

  1. Section D. 2 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  3. Section B.7 Governance Committee Charter, Corporate Governance Page, DBP Website
  1. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?

The Governance Committee (also acting as the Nomination Committee) held 12 meetings in CY 2023. Copies of the schedule of meetings as well as the attendance record of its members may be downloaded from the Corporate Governance Page of the DBP Website. The same is also included in the 2023 Annual Corporate Governance Report.

  1. Section D. 2 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  3. Section B.8 Schedule of Board Meetings, Corporate Governance Page, DBP Website
  4. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  1. If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed?

Details of the major accomplishments of the Governance Committee (Nomination Compensation/ Remuneration Committee) are disclosed in the 2023 Annual Corporate Governance Report.

  1. Section D. 3 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Does the Board appoint an Audit Committee?

DBP’s Audit and Compliance Committee assists the Board of Directors in providing oversight over the adequacy and effectiveness and efficiency of its internal control framework, internal and compliance functions/programs, and compliance with legal and regulatory requirements, among others.

Copies of the Charter as well as its membership may be downloaded from the Corporate Governance Page of the DBP Website.

  1. Section D. 2 (b) of the 2023 DBP Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  3. Section B.7 Audit and Compliance Committee Charter, Corporate Governance Page, DBP Website
  4. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  1. If yes, is the report of the Audit Committee publicly disclosed?

Details of the major accomplishments of the Audit and Compliance Committee in 2023 are disclosed in the 2023 Annual Corporate Governance Report.

  1. Section D. 3 2023 of the Annual Corporate Governance Report
  1. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?

Director Roberto V. Antonio, the Chairman of the Audit and Compliance Committee, is a seasoned businessman who has an extensive record in business management. At present, he concurrently serves as the head of Kalimera, Inc., RVA and Sons Inc., and RVA International Trading and sits in the Board of RVA Hatch, Inc., Right Eight Security Agency, Inc., Premium Leisure Corporation, and the Pacific Online System Corporation.

Director Antonio earned his Master in Business Economics from the University of Asia and the Pacific, and a Bachelor’s Degree of Science in Economics from the De La Salle University.

Further details regarding Director Antonio along with the other members of the Audit and Compliance Committee are disclosed in DBP’s website.

  1. Section D.2 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Director Roberto V. Antonio’s profile, Corporate Governance Page, DBP Website
  3. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  1. Did the Audit Committee meet at least four times during the year?

The Audit and Compliance Committee held 13 meetings in CY 2023.

A copy of the schedule of meetings as well as the attendance record of its members may be downloaded from the Corporate Governance Page of the DBP Website. The same is also reflected in the 2023 Annual Corporate Governance Report.

  1. Section D.2 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  3. Section B.7 Audit and Compliance Committee Charter, Corporate Governance Page, DBP Website
  4. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  1. Does the Board appoint a Risk Management Committee?

DBP’s Risk Oversight Committee (ROC) provides a forum for cooperation and an ideal venue for discussion among those charged with the governance and risk management functions. It oversees the adequacy and effectiveness of existing risk policies, procedures, and controls. It shall likewise identify and evaluate risk exposure and assess the possibility of each risk becoming a reality. A copy of its Charter may be downloaded from the DBP Website.

Membership in the ROC is disclosed in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP Website.

  1. Section D. 2 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.7 Risk Oversight Committee Charter, Corporate Governance Page, DBP Website
  3. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  4. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  1. If yes, is the report on Risk Management Committee publicly disclosed?

DBP’s 2023 Annual Corporate Governance Report contains details of the major accomplishments of ROC in the CY 2023.

  1. Section D. 3 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Does at least one member of the Risk Management Committee have a background in finance and investments?

Director Consuelo N. Padilla served as Acting Chairman of the Risk Oversight Committee from January 1 until February 28, 2023. She concurrently served as the Chairperson of the Landbank Countryside Development Foundation and a Director of PTFC Baesa Redevelopment Corporation, Padilla De Los Reyes Inc., Seltoh Inc., and Tohsel Inc. She previously held key positions in the Treasury offices of Philippine Associated Smelting and Refining Corporation and the Bank of the Philippine Islands, and was the Philippine Representative to OBU Bank Dagang Nasional Indonesia. She earned her Master in Business Management from the Asian Institute of Management.

Seasoned businessman Director Roberto V. Antonio, on the other hand, served as member of the ROC from January 1 until February 14, 2023. He earned his Master in Business Economics from the University of Asia and the Pacific, and a Bachelor’s Degree of Science in Economics from the De La Salle University.

Jaime Z. Paz, another member of ROC, has over 32 years of experience as a lawyer. He has gained profound and vast work experience both in the private and public sectors, excelling in areas as diverse as the Philippine electoral system, environmental protection and preservation, socialized housing, as well as urban planning and development. His venture in the government, on the other hand, include stints in the Metro Manila Development Authority (as General Manager), the Commission on Elections (as Head Executive Assistant, Office of the Chairman), and the Social Housing Finance Corporation (as a member of the Board of Directors).

Further details regarding ROC members can be found in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP Website.

  1. Section D.2 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Annex A 2023 of the Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section B.3 Membership in Board Committees, Corporate Governance Page, DBP Website
  4. Director Consuelo N. Padilla, Corporate Governance Page, DBP Website
  5. Director Roberto V. Antonio’s profile, Corporate Governance Page, DBP Website
  6. Director Jaime Z. Paz’s profile, Corporate Governance Page, DBP Website – https://www.dbp.ph/about-dbp/board-of-directors-management/jzpaz/
  1. Board meetings and attendance
  1. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)

Yes. In light of the appointment of new members of the DBP Board of Directors, the schedule of meetings was discussed during their onboarding/orientation in January 2023. The first meeting was held on January 04, 2023.

Details of the Board Meetings Held in 2023 may also be accessed through the Corporate Governance Page of the DBP website.

  1. Section A. 1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP WebsiteSection C. 1 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.8 Schedule of Board Meetings, Corporate Governance Page, DBP Website
  1. Does the Board of Directors meet at least monthly?

Yes, the Board of Directors met at least monthly.

The attendance record, schedule of meetings, and the board meetings held in CY 2023 may be downloaded from the Corporate Governance Page of the DBP website. These are likewise disclosed in the 2023 Annual Corporate Governance Report.

  1. Section B.8 Schedule of Board Meetings, Corporate Governance Page, DBP Website
  2. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  3. Section B.9, Board Meetings Held, Corporate Governance Page, DBP Website
  4. Section C. 2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Did the Board of Directors meet on at least 75% on their scheduled meetings?

Yes, almost all members of the DBP Governing Board met 100% of their scheduled meetings to perform their duties and responsibilities under the DBP Charter and the DBP Manual of Corporate Governance.

The Schedule of Board Meetings and Attendance Record in Board and Committee Meetings may be accessed through the Corporate Governance Page of the DBP website.

  1. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  2. Section C. 4 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section B.9, Board Meetings Held, Corporate Governance Page, DBP Website
  4. Section C. 2 Schedule of Board Meetings, Corporate Governance Page, DBP Website
  1. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?

Most of the members of the DBP Board of Directors obtained at least a 90% attendance score for Board meetings and a 75% attendance score for Board-Level Committee meetings held in CY 2023.

Several members of the Board of Directors missed one meeting. President and Chief Executive Officer Michael O. de Jesus attended 91.66% of scheduled Development Advocacy Committee Meetings, Director Maria Lourdes A. Arcenas attended 95.83% of scheduled Board meetings, and Director Philip G. Lo attended 96.29% of scheduled Board meetings.

Director Roberto V. Antonio, on the other hand, attended 93.45% of scheduled Board meetings, 92.30% of Executive Committee meetings, 92.30% of scheduled Audit and Compliance Committee meetings, and 90% of scheduled Governance Committee meetings.

Meanwhile, Director Jaime Z. Paz attended 91.48% of scheduled Board meetings, 90.90% of scheduled Governance Committee meetings, 75% of scheduled IT Governance Committee meetings, and 88.88% of scheduled Risk Oversight Committee meetings.

Records of the Directors’ attendance to Board and Board-Level Committee Charters are disclosed in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP Website.

  1. Section B.11 Attendance record in Board and Committee Meetings, Corporate Governance Page, DBP Website
  2. Section B.9, Board Meetings Held, Corporate Governance Page, DBP Website
  3. Section C. 2 Schedule of Board Meetings, Corporate Governance Page, DBP Website
  1. Did the Board of Directors meet separately at least once during the year without the President/CEO present?

In CY 2023, the Non-Executive Directors regularly held meetings with the Heads of the Compliance Management Group, Internal Audit Group, and/or Enterprise Risk Management Group without the President and CEO to ensure that independent functions are carrying out their duties and responsibilities.

President and Chief Executive Officer Michael O. de Jesus likewise stepped out of the Board meeting on 08 November 2023, allowing the non-executive directors to meet with the heads of control functions functionally reporting to them without the presence of Senior Management.

  1. Section C. 5 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Access to information
  1. Does the GOCC have a policy that stipulates board papers for Board of Directors / Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?

The members of the DBP Board of Directors and Board Committees are furnished with the agenda materials at least five (5) calendar days before the scheduled meeting. Board papers consist of complete and adequate information about the matters to be taken in the board meeting. Information includes the background or explanation on matters brought before the Board, disclosures, budgets, forecasts, and internal financial documents, among others.

Such requirement is also indicated in the Board-Level Committee Charters and the 2023 Annual Corporate Governance Report.

  1. Section C. 6 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.7 Charter of the Board Committees, Corporate Governance Page, DBP Website
  1. Is the Board Secretary trained in legal, accountancy or company secretarial practices?

Yes. DBP’s Corporate Secretary from 2 January 2020 until 17 January 2023, Atty. Rene A. Gaerlan, is a lawyer by profession. He obtained his Bachelor of Laws and his AB Economics degree from the University of Sto. Tomas. He is a Career Service Professional and a Career Executive Service Officer (CESO) eligible.

He was succeeded by Atty. Maria Katrina L. Infante, a lawyer by profession, as Officer-in-Charge of the Office of the Corporate Secretary. Prior to this role, she served as the Assistant Corporate Secretary and concurrently Head of the Corporate Governance Unit of OCS.

Joining the Bank in January 2013, Atty. Infante was one of the pioneers in the then newly created Corporate Governance Office (CGO) where she was primarily responsible for developing, implementing and monitoring corporate governance policies and programs consistent with the Bank’s strategic direction and corporate values. She also prosecuted and investigated administrative disciplinary cases against Bank officers and employees in CGO.

Her prior work experience includes handling corruption control, prevention and investigation at the Office of the Ombudsman and stint as a Procurement Officer at the Government Procurement Policy Board – Technical Support Office. She also served as a Legislative Staff at the Senate of the Philippines under the office of the late Senator Aquilino Q. Pimentel, Jr.

Atty. Infante holds a Masters Degree in Public Policy from the National Graduate Institute for Policy Studies in Tokyo, Japan. She took up her Bachelor of Laws Degree at the Pamantasan ng Lungsod ng Maynila and Bachelor’s Degree in Public Administration and Governance at the Polytechnic University of the Philippines.

  1. Section C. 6 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Internal Audit
  1. Does the company have a separate internal audit function?

The Internal Audit Group (IAG), an independent unit of DBP, was established by the Board of Directors to provide independent, objective assurance and consulting services designed to add value and improve the Bank’s operations. IAG helps the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. It is currently led by Senior Vice President and Chief Audit Executive Ryan R. Gabinete, a certified public accountant, with decades of work experience handling almost all facets of the accountancy profession.

The Bank’s 2023 Annual Corporate Governance Report contains details regarding the role, scope of internal audit work, and other details of the internal audit function.

  1. Section F. 1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?

Pursuant to the BSP MORB (2023) and its Charter, the Audit and Compliance Committee approves the appointment and removal of the IAG’s Chief Audit Executive or Head of Internal Audit. This is explicitly stated in both the Bank’s 2023 Annual Corporate Governance Report and Audit and Compliance Committee Charter.

  1. Section F.1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.7 Audit and Compliance Committee Charter, Corporate Governance Page, DBP Website
  1. Risk Oversight
  1. Does the company disclose the internal control procedures/risk management systems it has in place?

Details of the Bank’s key internal control procedures and its risk management system are disclosed in the 2023 Annual Corporate Governance Page and the Charters of the Board-Level Committees.

These documents may be accessed or downloaded from the Corporate Governance Page of the DBP Website.

  1. Section E.1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.7 Charter of the Board Committees, Corporate Governance Page, DBP Website
  1. Does the Annual Report disclose that the board of Directors/Commissioners have conducted a review of the company’s material controls (including operational, financial and compliance controls) and risk management systems?

The ERM framework is regularly reviewed and updated to ensure that it remains aligned with the risk tolerance set by the Board and that it remains consistent with industry best practices and globally accepted frameworks.

For CY 2023, the Board of Directors, through the Risk Oversight Committee, regularly discussed the adequacy and effectiveness of the Bank’s risk management systems and operating policies through inputs and reports coming from ERMG and other business units. They revisited and reviewed pertinent credit policies and guidelines in view of the effects of various macroeconomic conditions and increasing inflation rates, amongst others, on borrowers’ repayment capabilities. The Board likewise revised and updated the Bank’s various policies and models for market, liquidity, interest rate, and trust risks for the Bank’s Treasury activities and Trust operations. The establishment of the internal limit and the early warning trigger for the Net Stable Funding Ratio (NSFR) – Single Currency was approved to give the Bank more leeway in generating additional deposits and other sources of funds while being cognizant of the Bank’s current resources and the competitive rates offered by peer banks. To enhance the security of the Bank’s electronic channels and ensure alignment with BSP regulations, the Board approved the fraud management policy on Electronic Payment and Financial Services (EPFS). Further, enhancement of existing policies on information security risk management were also approved to ensure that these remain relevant and applicable in protecting the information assets. Lastly, in 2023, the Board approved the results of the Information Security Risk Assessment, which determined the information security and technology risk profile of the Bank.

  1. Section E. 1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Does the company disclose how key risks are managed?

All key risks and how they are managed are discussed in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP Website.

  1. Section E. 1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section C.8. Any Material Risk Factors and Measures Taken to Manage such Risks, Corporate Governance Page, DBP Website
  1. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC’s internal controls/risk management systems?

Yes, the Board commented on the adequacy of the Bank’s internal controls and risk management systems in 2023.

Further details are disclosed in the 2023 Annual Corporate Governance Report.

  1. Section E. 1 (c) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  1. Do different persons assume the roles of Chairman and CEO?

Section 8 of DBP’s Revised Charter states that:

xxx

The Chairman of the Board shall be appointed by the President of the Philippines from among the members of the Board: Provided, That the position of the chairman of the Board and the president of the Bank shall not be held by the same person.
xxx

In line with this, DBP’s Chairman is Dante O. Tiñga o while its President and Chief Executive Officer is Michael O. de Jesus. The Revised DBP Charter and their profiles may be accessed through the Corporate Governance Page of the DBP Website.

  1. Section A. 2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Board of Directors/Management, DBP Website
  3. Section A.1 Revised Charter, Corporate Governance Page, DBP Website
  1. Board of Directors Development (Orientation Program and Continuous Professional Education of BODs)
  1. Does the GOCC have orientation programmes for new Directors?

Pursuant to the policies of the Bangko Sentral ng Pilipinas (BSP) and the Governance Commission for GOCCs (GCG), as adopted by the DBP’s Board of Directors under the Continuing Education Program of the Board of Directors, all incumbent directors must undergo an annual training or seminar on Corporate Governance or other related topics, including an orientation program for newly appointed directors.

All newly appointed directors were likewise furnished with an onboarding kit and were informed of their respective duties and responsibilities under the BSP Manual of Regulations for Banks (MORB) and the DBP Manual on Corporate Governance through an orientation conducted by the Office of the Corporate Secretary. Moreover, the new directors are immediately enrolled in a Corporate Governance Orientation Program given by an accredited training provider by the BSP or GCG.

  1. Section A. 4 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.13 Continuing Education Program for the Members of the Board, Corporate Governance Page, DBP Website
  1. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?

All incumbent directors must undergo an annual training or seminar on Corporate Governance or other related topics, including an orientation program for newly appointed directors pursuant to DBP’s Continuing Professional Education Program for members of the Board per Governance Committee Resolution No. 36 dated 19 October 2016.

In CY 2023, the Board of Directors attended both in-house and outsourced capacity-building training programs and seminars via zoom and in person.

  1. Section A. 4 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.13 Continuing Education Program for the Members of the Board, Corporate Governance Page, DBP Website
  1. Did all Appointive Directors attend at least 1 training for the calendar year?

The Board of Directors regularly attends both in-house and outsourced capacity-building training programs and seminars as part of the Bank’s Continuing Professional Education Program.

In CY 2023, all members of the DBP Governing Board attended at least two (2) training programs. The list of training courses attended by each Director and its corresponding details may be downloaded from the Corporate Governance page of the DBP website.

  1. Section A. 4 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.13 Continuing Education Program for the Members of the Board, Corporate Governance Page, DBP Website
  1. Board Appraisal
  1. Is an annual performance assessment conducted of the Board of Directors assessment?

DBP conducts an Annual Performance Appraisal of the DBP Board and Board of Directors.

For CY 2023, the peer assessment commenced on January 25, 2024 and is still ongoing. Results of the appraisal will be reported to the respective Board-level Committee and the Board of Directors as well as pertinent regulatory agencies within the 2nd quarter of CY 2024.

Further details of the annual performance assessment are disclosed in the 2023 Annual Corporate Governance Report and Corporate Governance Page of the DBP Website.

  1. Section I of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section B.12 (a) Performance Appraisal of DBP Board and Board of Directors, Corporate Governance Page, DBP Website
  3. Section B.12 (c) Annual Performance Appraisal of the DBP Board, Board-Level Committee and the Individual Director, Corporate Governance Page, DBP Website
  1. Does the GOCC disclose the process followed in conducting the Board?

The DBP Board of Directors, through its Governance Committee, oversees the periodic performance appraisal of the DBP Board and Individual Directors of the Board within the first quarter of every year, or a date decided upon by the Board.

The criteria and rating system for the Board of Director’s Peer Assessment are as follows: Competence (15%), Independence (15%), Preparedness as a Director (20%), Practice as a Director (20%), Committee Activity (15%), and Development Process of the Corporate Enterprise (15%).

Further details on the process and criteria used for the assessment are disclosed in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP website.

  1. Section I.1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section I.2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section B.12 (a) Performance Appraisal of DBP Board and Board of Directors, Corporate Governance Page, DBP Website
  4. Section B.12 (c) Annual Performance Appraisal of the DBP Board, Board-Level Committee and the Individual Director, Corporate Governance Page, DBP Website
  1. Does the GOCC disclose the criteria used in the Board assessment?

The DBP Board of Directors, through its Governance Committee, oversees the periodic performance appraisal of the DBP Board and Individual Directors of the Board within the first quarter of every year, or a date decided upon by the Board.

The criteria and rating system for the Board of Director’s Peer Assessment are as follows: Competence (15%), Independence (15%), Preparedness as a Director (20%), Practice as a Director (20%), Committee Activity (15%), and Development Process of the Corporate Enterprise (15%).

Further details on the process and criteria used for the assessment are disclosed in the 2023 Annual Corporate Governance Report and the Corporate Governance Page of the DBP website.

  1. Section I.1 (a) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section I.2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section B.12 (a) Performance Appraisal of DBP Board and Board of Directors, Corporate Governance Page, DBP Website
  4. Section B.12 (c) Annual Performance Appraisal of the DBP Board, Board-Level Committee and the Individual Director, Corporate Governance Page, DBP Website
  1. Is an annual performance assessment conducted of the Board of Directors Committees?

In addition to the Board Appraisal System and Peer Assessment of Directors, an appraisal of the effectiveness of all Board-level committees is likewise conducted using the criteria and rating system approved by the Board. The raters are regular members of the specific committee, except for the Executive Committee where the raters shall be all members of the Board with at least three months of incumbency prior to the rating date.

The criteria and rating system for the Board and Board-level Committee assessments focus on their structure and composition (20%), duties and responsibilities (60%), and performance of individual members (20%).Further details on the process and criteria used for the peer appraisal are disclosed in the 2023 Annual Corporate Governance Report.

  1. Section I.1 (b) of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  2. Section I.2 of the 2023 Annual Corporate Governance Report, Corporate Governance Page, DBP Website
  3. Section B.12 (b) Performance Appraisal of the DBP Board Committees, Corporate Governance Page, DBP Website
  4. Section B.12 (c) Annual Performance Appraisal of the DBP Board, Board-Level Committee and the Individual Director, Corporate Governance Page, DBP Website
*Based on the prescribed format of the Governance Commission for GOCCs.
**Latest available data/reports
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