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Manila Bulletin devider Business devider DBP earns nod for good governance and sustainable practices

DBP earns nod for good governance and sustainable practices

By MBrand
Published Apr 24, 2026 07:24 am

At A Glance

  • State-owned Development Bank of the Philippines (DBP) has been recognized by its regulator for its adherence to good corporate governance and by an international organization for its sustainability programs.
DBP Executive Vice President Catherine Magana (fourth from left) holds the award from the GCG in recognition of the Bank’s corporate governance initiatives. Also in photo are (from left): National Privacy Commission Chairman, Johann Carlos S. Barcena; DBP Senior Vice President, Soraya F. Adiong; former Senate President, Franklin M. Drilon; GCG Chairperson, Marius P. Corpus; GCG Commissioner, Geraldine Marie B. Berberabe-Martinez; Department of Finance Undersecretary, Rolando G. Tungpalan; DBP Corporate Secretary, Maria Katrina L. Infante; and Department of Budget and Management Assistant Secretary, Leonido J. Pulido III.
DBP Executive Vice President Catherine Magana (fourth from left) holds the award from the GCG in recognition of the Bank’s corporate governance initiatives. Also in photo are (from left): National Privacy Commission Chairman, Johann Carlos S. Barcena; DBP Senior Vice President, Soraya F. Adiong; former Senate President, Franklin M. Drilon; GCG Chairperson, Marius P. Corpus; GCG Commissioner, Geraldine Marie B. Berberabe-Martinez; Department of Finance Undersecretary, Rolando G. Tungpalan; DBP Corporate Secretary, Maria Katrina L. Infante; and Department of Budget and Management Assistant Secretary, Leonido J. Pulido III.
State-owned Development Bank of the Philippines (DBP) has been recognized by its regulator for its adherence to good corporate governance and by an international organization for its sustainability programs, a top official said.
DBP President and CEO, Michael O. de Jesus, said the Bank was hailed as the top performing government-owned and controlled corporation (GOCC) during the recent Governance Commission for GOCCs (GCG) Awards and the “Top Community-Centric Company” during the Asia Corporate Excellence and Sustainability (ACES) Awards.
“It is truly humbling for DBP to be recognized for its corporate governance practices and sustainability efforts anchored with the ideals of the Marcos Administration and geared towards advancing the welfare of the Filipino people,” de Jesus said.
DBP is the ninth largest bank in the country with total assets of ₱1.041 trillion, primarily providing funding assistance to projects in four economic sectors — infrastructure and logistics; micro, small and medium enterprises; social services and community services; and the environment.
GCG Award
De Jesus said DBP was the top ranked GOCC in the GCG 2024 Corporate Governance Scorecard (CGS) which evaluates GOCCs based on international governance standards, obtaining a final CGS score of 104.17%, a sharp rise from the 102.67% it garnered from the previous CGS.
GCG is the primary central policy-making and regulatory body of GOCCs that evaluates corporate governance standards and practices. Its CGS serves as an instrument to assess the corporate governance initiatives and practices of GOCCs using a methodology benchmarked against the Corporate Governance principles of the Organization for Economic Cooperation and Development and the ASEAN Corporate Governance Scorecard.
ACES Award
Organized by Malaysian-based MORS Group, the ACES Awards recognized industry leaders in Asia that have successfully integrated Environmental, Social, and Governance (ESG) principles into their operations.
De Jesus noted that this is the third consecutive win of DBP in the ACES awards, this time under the Corporate Sustainability category for its reforestation program with the Mindanao State University-Buug campus and its participation in the Department of Agriculture’s Agri-Puhunan at Pantawid Program.
“These accolades are a testament to DBP’s tireless pursuit of exemplary public service, ably fulfilling its developmental mandate and supporting the National Government’s thrust of promoting progress today and in the years ahead,” de Jesus said.

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Development Bank of the Philippines (DBP)
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