LANDBANK is fully compliant with the provisions of the Code of Corporate Governance.
|
CORPORATE GOVERNANCE SCORECARD* FOR GOCC 2022** |
|||
|
QUESTION |
YES |
NO |
LINK SOURCE |
|
1. Does the GOCC disclose a policy that: |
|||
|
a. Stipulates the existence and scope of its effort to address customer’s welfare? |
|
|
Yes. See LANDBANK Mission and Corporate Social Responsibility Statement |
|
b. Elaborates its efforts to interact with the communities in which they operate? |
|
|
Yes. See Our Corporate Policy, and Corporate Social Responsibility Statement and Integrated Quality and Environmental Policy. |
|
c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? |
|
|
|
|
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? |
|||
|
a. Customer health and safety |
|
|
Yes. Please see below: 1. Consumer Protection Programs |
|
b. Interaction with the communities |
|
|
Yes. Please see below: 1. LANDBANK Corporate Social Responsibility Statement 2. Awards (with PRs): a) LANDBANK bags 5 Quill Awards for communication excellence (08 Feb 2024) b) LANDBANK ranked among world’s best employers by Forbes (08 Nov 2023) c) LANDBANK named ‘best bank’ for promoting financial inclusion (05 Oct 2023) d) LANDBANK ADFIAP Development Awards 2023 (FB post: 18 May 2023) e) See more list of awards received by LANDBANK in 2023: 3. Financial Literacy Training a) LANDBANK Foundation runs FinLit, natural farming trainings in Lake Sebu (02 Feb 2023) 4. Aids/Donation/Countryside Development a) Over 10,300 trike drivers to receive fuel subsidy (11 Jan 2023) b) Isabela corn farmer enjoys bountiful harvest with LANDBANK’s aid (23 Feb 2023) c) LANDBANK okays P41.3-B pandemic aid for MSEs, co-ops (14 Mar 2023) d) As COVID-19 recovery loans for LGUs hit P113-B: LANDBANK funds free public Wi-Fi in Quirino Province (13 Apr 2023) e) LANDBANK delivers cash cards to remote Caluya islands (14 Jun 2023) f) LANDBANK grants P700-M loan for Davao del Sur’s dev’t projects (27 Jun 2023) g) LANDBANK delivers RCEF-RFFA aid to Iloilo farmers (18 Jul 2023) h) Pasay pensioners receive “ayuda” via LANDBANK cash cards (15 Aug 2023) i) LANDBANK disburses P1.1B fuel subsidy to 190K PUV drivers (15 Nov 2023) |
|
c. Environmentally-friendly value chain |
|
|
Yes. See Environment-friendly value chain process |
|
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section? |
|
|
Yes. 1) Please see LANDBANK CSR Statement page |
|
4. Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights |
|||
|
a. 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? |
|
|
Yes. See LANDBANK's website "Contact Us" page |
|
5. Performance-enhancing mechanisms for employee participation should be permitted to develop. |
|||
|
a. Does the GOCC explicitly mention the health, safety and welfare policy for its employees? |
|
|
Yes, internal issuances are disseminated to employees through internal communication channels. See: 1) The Landbank Psychological Resilience Program LBP EO No. 099, s. 2021 and 2) Guidelines on the Implementation of the LANDBANK Drug-Free Workplace Program (LBP AO No. 011, s. 2019) and 3) Guidelines on the Implementation of the LANDBANK Workplace Policy and Education Program on Human Immunodeficiency Virus (HIV) and Acquired Immune Deficiency Syndrome or AIDS (LBP EO No. 031, s. 2022) and 4) Creation of LANDBANK Safety and Health Committee or SHC (LBP SO 599, s. 2021), and the revision through LBP SO No. 326, s. 2022 to further strengthen the SHC. |
|
b. Does the GOCC publish data relating to health, safety and welfare of its employees? |
|
|
Yes. See Employee Health and Well-being (2023) |
|
c. Does the GOCC have training and development programmes for its employees? |
|
|
Yes. See LANDBANK 2023 Training Calendar |
|
d. Does the GOCC publish data on training and development programs for its employees? |
|
|
Yes. See ODD Accomplishment Report as of December 2023 |
|
6. 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. |
|||
|
a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior? |
|
|
Yes. Provided under Item D. General Guidelines/Policies and Procedures of Rights of Whistleblowers LBP AO No. 141, s. 2018 Revised Guidelines on Internal Whistleblowing and Reporting, page 6. |
|
b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation? |
|
|
Yes. See Rights of Whistleblowers LBP AO No. 141, s. 2018 Revised Guidelines on Internal Whistleblowing and Reporting, page 6. |
|
7. Quality of the Annual Report. Does the GOCC’s AR disclose the following items: |
|||
|
a. Corporate Objectives |
|
|
Yes. See LANDBANK Vision and Mission and LANDBANK Business Model and Strategic Objectives |
|
b. Financial performance indicators |
|
|
N/A. The Audited Financial Statement for 2023 is not yet available. |
|
c. Non-financial performance indicators |
|
|
Yes. See the following: 2. Support to National Government Programs 3. Digital Transformation |
|
d. Details of whistleblowing policy |
|
|
Yes. See Rights of Whistleblowers LBP AO No. 141, s. 2018 Revised Guidelines on Internal Whistleblowing and Reporting |
|
e. Biographical details (directors) |
|
|
Yes. See Board Qualifications, Educational Background and Experiences (2023) |
|
f. Trainings or continuing education (directors) |
|
|
Yes. See Board Qualifications, Educational Background and Experiences (2023) |
|
8. Are the Annual Reports downloadable from the GOCC’s website? |
|
|
|
|
9. Corporate Governance Confirmation Statement |
|||
|
a. Does the AR 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. See Corporate Governance |
|
10. Timely filing/release of annual/financial reports |
|||
|
a. Are the audited annual financial report/statement released within 60 days upon receipt from COA? |
|
|
|
|
b. Is the Annual Report released within 90 days from the release of the audited financial report? |
|
|
|
|
c. 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? |
|
|
|
|
11. Corporate Vision/Mission |
|||
|
a. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year? |
|
|
Yes. See Board’s Overall Responsibility 2023. The LANDBANK Board reviewed and approved the Bank's Vision and Mission and Strategy Map included in the proposed 2023 LANDBANK Performance Scorecard on 26 October 2022, per Board Resolution No. 22-762. |
|
b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy? |
|
|
Yes. See Board’s Overall Responsibility 2023. |
|
12. Did the GOCC achieve 90% in the PES? |
|
|
|
|
13. Code of ethics or conduct |
|
|
|
|
a. Are the details of the code of ethics or conduct disclosed? |
|
|
Yes. See 2023 Code of Conduct for LANDBANK Employees and Board of Directors |
|
b. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code? |
|
|
Yes. See 2023 Code of Conduct for LANDBANK Employees and Board of Directors, page 6 (Coverage) |
|
c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct? |
|
|
Yes. See 2023 Code of Conduct for LANDBANK Employees and Board of Directors, page 6 (Compliance with the Code) |
|
14. Does the Board appoint a Nomination Compensation/Renumeration Committee? |
|
|
Yes. See Board-Level Committees including Membership and Function, Corporate Governance Committee, pages 7-8 |
|
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year? |
|
|
Yes. See Board-Level Committees including Membership and Function, Corporate Governance Committee, pages 7-8, which states that based on its charter, the Corporate Governance Committee has to meet at least every quarter of every year. It held a total of six meetings in 2023. |
|
16. If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed? |
|
|
Yes. See Board-Level Committees including Membership and Function, Corporate Governance Committee, pages 7-8, and CGCom Accomplishment Report, which states that the CG Com issued 35 resolutions which tackled the Results of the Performance Rating System, Updated Manual on Corporate Governance, Organizational Changes, Transfer of Reporting Lines, Establishment of Lending Center, Early Retirement Incentive Program and Promotions of Senior Officers. |
|
17. Does the Board appoint an Audit Committee? |
|
|
Yes. Refer to Audit and Compliance Committee section of Board-Level Committees including Membership and Functions (as of December 31, 2023). |
|
18. If yes, is the report of the Audit Committee publicly disclosed? |
|
|
Yes. The AC Com’s oversight responsibilities and accomplishment are incorporated in the Bank’s Annual Report which is posted in the LANDBANK website; hence, available to the public. |
|
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? |
|
|
Yes. See Membership to Board-Level Committees and Relevant Qualifications. The following AC Com members have Audit and Finance Background:
|
|
20. Did the Audit Committee meet at least four times during the year? |
|
|
Yes, it meets at least once a month. Please refer to Board-Level Committees including Membership and Function, which states that “The Committee meets at least once a month and held a total of 12 meetings in 2023.” |
| 21. Does the Board appoint a Risk Management Committee? |  |
Yes. See Board-Level Committees including Membership and Functions, Risk Oversight Committee (RISKCOM), pages 3-4 |
|
|
22. If yes, is the report on Risk Management Committee publicly disclosed? |
|
|
Yes. See Board-Level Committees including Membership and Functions, Risk Oversight Committee, pages 3-4, and RISKCOM Accomplishment Report for PY 2023, which shows the schedule of the approved Policies, Guidelines, and Plans, Noted/Confirmed Regular Reports, and Approved/Noted/Confirmed Ad Hoc Reports |
|
23. Does at least one member of the Risk Management Committee have a background in finance and investments? |
|
|
Yes. See Membership to Board-Level Committees, pages 3-4 and Relevant Qualifications. Chairperson: Director Virginia N. Orogo |
|
24. Board meetings and attendance |
|||
|
a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) |
|
|
Yes. See Board Meetings and Attendance 2023, which states that the schedule of the meetings of the Board of Directors is agreed upon at the beginning of the year. For CY 2023, this was agreed upon during the Board meeting held on December 18, 2022. |
|
b. Does the Board of Directors meet at least monthly? |
|
|
Yes. See Board Meetings and Attendance 2023, 2nd statement of 2nd paragraph, which states that in general, there are at least two meetings scheduled per month, held on every second and fourth Wednesday of each month, for a targeted total number of 24 meetings per year. |
|
c. Did the Board of Directors meet on at least 75% on their scheduled meetings? |
|
|
Yes. See Directors' Attendance 2023 |
|
d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year? |
|
|
Yes. See Directors' Attendance 2023 |
|
e. Did the Board of Directors meet separately at least once during the year without the President/CEO present? |
|
|
Yes. See Board Meetings and Attendance 2023, 2nd paragraph, which states that the non-executive Directors and the Heads of Internal Audit Group, Risk Management Group, Compliance Management Group and the Resident COA Representative were able to meet separately on December 22, 2023, without the presence of the President and CEO, in compliance with the BSP and GCG requirements. |
|
25. Access to information |
|||
|
a. 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? |
|
|
Yes. See Board Meetings and Attendance 2023, 4th statement of 1st paragraph, which states that as much as practicable, materials for the Board meeting are sent to the members of the Board at least three business days before the Board meeting. |
|
b. Is the Board Secretary trained in legal, accountancy or company secretarial practices? |
|
|
Yes. See Board Meetings and Attendance 2023, last statement of 1st paragraph, which states that the Corporate Secretary from January to December 2023 was Atty. Myra-Lyn S. Peñalosa, who has been a member of the Philippine Bar since 1997. |
|
26. Internal Audit |
|||
|
a. Does the company have a separate internal audit function? |
|
|
Yes, thru the Internal Audit Group. Please refer to Units under the Board of Directors (Internal Audit Group). |
|
b. Is the head of internal audit identified or, if outsourced, is the name of the external firm disclosed? |
|
|
Yes, the head of the Internal Audit Group is the head of the internal audit, who is a bank employee. The external auditor is the Commission on Audit, Land Bank being a government entity. Please refer to Land Bank of the Philippines Organizational Structure and Audit and Compliance Accomplishment Report. . |
|
27. Risk Oversight |
|||
|
a. Does the company disclose the internal control procedures/risk management systems it has in place? |
|
|
Yes. See LANDBANK Risk Management (RM) Philosophy & Culture, particularly the 1st sentence of the 6th paragraph, stating that: "At the Strategic Level, the LANDBANK Board through the Risk Com and Senior Management, are actively involved in an enterprise-wide RM oversight which involves formulation and approval of RM framework, policies and strategies, internal controls, and RM system as well as the annual review thereof. |
|
b. 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? |
|
|
Yes. See LANDBANK Risk Management (RM) Philosophy & Culture, particularly the 2nd sentence of the 6th paragraph, stating that:"The LANDBANK Board through the RiskCom and Senior Management, are actively involved in an enterprise-wide RM oversight which involves formulation and approval of RM framework, policies and strategies, internal controls, and RM system as well as the annual review thereof" |
|
c. Does the company disclose how key risks are managed? |
|
|
Yes. See Risk Management Disclosure in the LANDBANK Annual Report which stated the oversight functions conducted through the application of the RM Framework to the following key risk areas: |
|
d. 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. See LANDBANK Risk Management (RM) Philosophy & Culture, particularly the 4th paragraph stating that: “Results of audit engagements disclosed that the Bank’s overall internal control, risk management, and compliance processes provide reasonable assurance that the operating objectives are met in the areas of: (1) efficiency and effectiveness of operations; (2) reliability, timeliness, and transparency of internal and external information; and (3) compliance with laws, regulations, bank policies, and contracts." |
|
28. Board Chairman |
|||
|
a. Do different persons assume the roles of Chairman and CEO? |
|
|
Yes. See Board Composition 2023, which states that the positions of Chairman of the Board, and President & CEO, are held by two different persons. The Chairman of the Board was Sec. Benjamin E. Diokno, Secretary of the Department of Finance, while the President & CEO is Cecilia C. Borromeo from January 2023 to May 23, 2023, and President & CEO Lynette V. Ortiz from May 24, 2023 to December 31, 2023, who is also the Vice-Chairperson. |
|
29. Board of Directors Development |
|||
|
a. Does the GOCC have orientation programs for new Directors? |
|
|
Yes. See Orientation and Education Program for Directors and Senior Management, 3rd paragraph |
|
b. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs? |
|
|
Yes. See Orientation and Education Program for Directors and Senior Management 1st and 2nd paragraphs |
|
c. Did all Appointive Directors attend at least 1 training for the calendar year? |
|
|
Yes. See BOD Training and Seminars (2023) thus: Dir. Nancy D. Irlanda Dir. David D. Erro Dir. Virginia N. Orogo Dir. Jaime L. Miralles (Term ended on 22 February 2023) Dir. Virgilio D. Robes (Term ended on 22 February 2023) |
|
30. Board Appraisal |
|||
|
a. Is an annual performance assessment conducted of the Board of Directors assessment? |
|
|
Yes. See Performance Evaluation |
|
b. Does the GOCC disclose the process followed in conducting the Board assessment? |
|
|
Yes. See Performance Evaluation |
|
c. Does the GOCC disclose the criteria used in the Board assessment? |
|
|
Yes. See Performance Evaluation |
|
31. Committee Appraisal |
|||
|
a. Is an annual performance assessment conducted of the Board of Directors Committees? |
|
|
Yes. See Performance Evaluation |
|
BONUS |
|||
|
Stakeholder's Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports? |
|
|
. |
|
Timely release of annual financial |
|
|
|
|
PENALTY |
|||
|
Responsibilities of the Board |
|||
|
a. Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs? |
|
|
|
|
b. Is there non-compliance with Good Governance Conditions? |
|
|
. |
Disclaimer:
This page is best viewed with the following browsers: Internet Explorer 9 and later, Firefox, Safari, Opera and Chrome. If you are using a different browser or if you are having trouble viewing this page, you may wish to update your Internet Explorer to Microsoft Edge or download the latest Chrome or Firefox.
*Based on the prescribed format of the Governance Commission for GOCCs.
**Latest available data/reports
