GCG awards PDIC as top-ranked GOCC for governance, performance in 2023

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Top-ranked GOCC for corporate governance and performance. The Governance Commission for Government-Owned or-Controlled Corporations (GCG) recognized state deposit insurer Philippine Deposit Insurance Corporation (PDIC) as one of the top-ranked GOCCs in the 2023 Corporate Governance Scorecard and Performance Evaluation Scorecard for exemplary adherence to corporate governance practices and delivery of outstanding performance to contribute to the Philippines’ inclusive growth and sustainable development. The recognition was conferred during the GOCC Governance Awards Ceremony held at the Philippine International Convention Center on November 25, 2024. 

In photo are (L-R): PDIC Vice President Delilah Grace Magtolis (Corporate Governance Office), GCG Commissioner Brian Keith F. Hosaka, GCG Chairperson Marius P. Corpus, Executive Secretary and former Chief Justice Lucas P. Bersamin, PDIC Board Director John Mark S. Frondoso, PDIC Senior Vice President Sandra A. Diaz (Management Services Group), General Counsel Maria Antonette Brillantes-Bolivar, PDIC VP Jose G. Villaret, Jr. (Corporate Affairs Group), and GCG Commissioner Geraldine Marie Berberabe-Martinez.

The Governance Commission for Government-Owned or-Controlled Corporations (GCG) recognized the Philippine Deposit Insurance Corporation (PDIC) as one of the top-ranked GOCCs in the 2023 Corporate Governance Scorecard and Performance Evaluation Scorecard. The recognition was conferred during the GOCC Governance Awards Ceremony held at the Philippine International Convention Center on November 25, 2024.

The Corporation was also commended for its adherence to the Global Reporting Initiative (GRI) Standards on Sustainability Reporting for 2021 to 2023. The PDIC’s perfect and high scores for 2021 to 2023 in Stakeholder Relationship and Responsibilities of the Board of the Corporate Governance Scorecard, respectively, were also recognized by the GCG.

“We are deeply honored to receive these awards from the GCG,” said PDIC President and CEO Roberto B. Tan.

“This recognition not only acknowledges our continuous efforts to enhance our systems, processes, and policies but also affirms our unwavering commitment to transparency and excellence in fulfilling our twin mandates of depositor protection and financial stability to benefit the depositing public we serve,” President Tan added.

The GCG Governance Awards Ceremony highlights the outstanding achievements of GOCCs in their exemplary adherence to corporate governance practices and delivery of high performance to contribute to the Philippines’ inclusive growth and sustainable development.

The annual awards are based on two key frameworks which are the Corporate Governance Scorecard and the Performance Evaluation System. The Corporate Governance Scorecard evaluates how GOCCs implement good governance initiatives and practices. Meanwhile, the Performance Evaluation System measures annual accomplishments against a set of performance criteria, targets, and weights agreed upon with the GCG.

The Corporation’s recognition underscores its leadership in promoting transparency, accountability, and operational excellence that impact on the state Deposit Insurer’s role in safeguarding depositors and driving financial stability through enhanced public confidence.

The Philippine Deposit Insurance Corporation (PDIC) was established on 22 June 1963 by Republic Act 3591 to protect depositors and help maintain stability in the financial system by providing deposit insurance, co-regulating banks with the Bangko Sentral ng Pilipinas (BSP), and liquidating closed banks.