Board Meetings and Attendance (2017)

Vision/Mission

The Vision/Mission of the Bank was discussed and approved by the members of the Board of Directors during the Annual Strategic Planning held on November 16-17, 2017.

 

Board Meetings and Attendance

The schedule of the meetings of the Board of Directors is agreed upon at the beginning of the year. In general, there are at least two meetings scheduled per month, held on every second and fourth Tuesday of each month. As much as practicable, materials for the Board meeting are sent to the members of the Board at least three (3) calendar days before the board meeting. The Corporate Secretary from January to July 2017 was VP Felix L. Manlangit, a lawyer and the Head of Field Legal Services Department, while the Officer-in-Charge/Corporate Secretary from August to December 2017 was Atty. Myra-Lyn S. Peñalosa.  

For calendar year 2017, the Board of Directors was able to meet 24 times or 100% of the scheduled meetings. Moreover, the Board of Directors and the Heads of Internal Audit Group, Risk Management Group and Compliance Management Group were able to meet separately at least once during the year without the President/CEO present on 29 November 2017.  

Corporate Governance Committee Meetings

The Corporate Governance Committee is composed of six members, namely: Dir. Rodolfo V. Puno (Chairman); Dir. Virgilio De Vera Robes (Vice-Chairman); Sec. Carlos G. Dominguez (member); DOLE Sec. Silvestre H. Bello III (member); Dir. Crispino T. Aguelo (member); and Dir. Dir. Jesus V. Hinlo, Jr. Per its charter, it has to meet at least every quarter of every year. It held a total of six (6) meetings in 2017.

The CGCom issued 38 resolutions which tackled the Results of the Performance Rating System; Promotions of Senior Officers; Organizational Changes; Splitting, Creation and Renaming of Bank Units; Position Leveling and Qualification Standards.

Performance Evaluation

Performance evaluation of the Bank’s Board of Directors is central to corporate governance. Performance rating sheets developed by the Institute of Corporate Directors (ICD) are disseminated yearly to evaluate the performance of the Board and the Board-level Committees. The results of the performance assessments are evaluated and deliberated upon annually by the Corporate Governance Committee in a duly constituted meeting. 

Percentage weight presentation:

 

  • Board Rating

This rating instrument is divided into four categories with corresponding weights.

 

I. Board Functions and Responsibilities (30%)

II. Board Structure (10%)

III. Board Process (30%)

IV. Board Performance (30%)

 

The final scores:         80% - 84.99%             Acceptable

85% - 94.99%             Ideal

95% -100.00%            Superior

 

  • Individual Rating of Board Members

 

This rating instrument is divided into five categories with corresponding weights

I. Competence and Independence (25%)

II. Commitment to Corporate Governance (25%)

III. Transparency (20%)

IV. Audit & Risk Oversight (20%)

V. Committee Activity (10%)

 

The final scores:         80% - 84.99%             Acceptable

85% - 94.99%             Ideal

95% -100.00%            Superior

Computation of Results

Each item in this rating instrument is computed through the following:

  • Average score per item = the sum of all the rates divided by the total number of directors
  • Average score per director = the sum of all the rates per category divided by the total number of items 
  • Average score per category = the sum of all the average scores per director divided by the total number of directors multiplied by the percentage weight for each category