The Rizal Commercial Banking Corp. (RCBC) was honored with a four-arrow recognition at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, which recognizes the outstanding performance of publicly-listed companies in the Philippines in terms of corporate governance.
Last January 20, the Institute of Corporate Directors (ICD) held its ACGS Golden Arrow Awards Night to name the top Philippine publicly-listed companies in corporate governance based on the 2021 ACGS Assessment Results.
The ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.
The scorecard aims to raise the corporate governance standards and practices of the country, and to make well-governed Philippine publicly listed companies attractive to investors.
The Golden Arrow is awarded to companies that achieved a score of at least 80 points in the ACGS Assessment. A four-arrow recognition is given to companies that scored 110 to 119 points.
“This recognition reflects our commitment to promoting good corporate governance practices and serving the interests of all our stakeholders. It reinforces our commitment to transparency, accountability, and providing our shareholders with equitable treatment,” RCBC Chief Compliance Officer, Mr. Brent Estrella said.
RCBC is a leading universal bank in the Philippines that provides a comprehensive range of banking and financial services to individual, corporate, and institutional clients.
With a network of over 500 branches and offices in the Philippines and overseas, RCBC serves the financial needs of a diverse customer base, offering products and services that include deposits, loans, trade finance, remittances, insurance, and investment services. The multi-awarded financial institution is known for its commitment to innovation, excellence, and customer satisfaction.