Corporate Governance

We are committed to good corporate governance, which promotes long-term value creation for our shareholders, customers, people and the communities we serve. We adopt prudent risk-taking and proper values in all our dealings so we can achieve growth and sustainability for our business. Explore this page to discover the comprehensive corporate standards and policies that govern our operations.

To achieve our aspirations and embed responsible and sustainable practices into our business, a robust governance structure is important. We uphold the highest standards of corporate governance and complies in all material aspects with corporate governance regulations, code and guidelines established in the Philippines.

The code of conduct provides a clear approach for how we expect all members of the Board of Directors and employees to conduct themselves.

Our corporate governance policies and procedures are laid out in a series of documents governing the organization and management of the company.

The Committees support the Board of Directors on various levels. They assess risks, set pay levels, and monitor the integrity of the company’s financial statements.

Audit Committee – The primary function of the Audit Committee is to assist the Board in fulfilling its oversight role by monitoring and assessing the integrity of the financial statements of the Group. The Audit Committee consists of not fewer than three members, all of whom must be independent.

Nomination Committee – The Nominations Committee discusses a broad variety of topics in preparation for Board meetings specifically the development and occasional review of a set of Corporate Governance Regulations, which are then recommended to the full Board for approval. It is also responsible for identifying, evaluating, recruiting and nominating new Board members in accordance with the criteria established by the Committee, subject to applicable laws and regulations.

Renumeration Committee – The Compensation Committee determines and/or recommends to the Board for approval the overall compensation pools and the compensation payable to the members of the Board, the Executive Board, the head of Internal Audit and certain other members of senior management.

Risk Committee – The Risk Committee’s main duties are to assist the Board in assessing the different types of risk to which the Group is exposed, as well as its risk management structure, organization and processes.

Risk Management is instrumental in ensuring a prudent and intelligent approach to risk-taking that appropriately balances risk and return and optimizes the allocation of capital throughout the Group. Moreover, through a proactive risk management culture , we strive to minimize the potential for undesired risk exposure in our operations.

We place utmost care on ensuring that our employees maintain the highest standards of compliance with all legal, regulatory and internal requirements. Our employees are asked to observe strict standards of professional conduct at all times.