(June 11, 2019 – Pasay City) Philippine National Bank (PSE: PNB) was recognized for the second straight year by the Institute of Corporate Directors (ICD) for being one of the awardees of its ASEAN Corporate Governance Scorecard (ACGS) Arrow for 2018. The recognition ceremony was held at the Conrad Manila.
“We thank the Institute of Corporate Directors for recognizing our efforts in upholding sound corporate governance in PNB,” Tarriela said. “We shall continue to adopt best corporate governance practices as part of being a responsible corporate citizen.”
ICD is a non-stock, non-profit organization dedicated to professionalizing corporate directorship and raising the corporate governance standards of the Philippines. ICD was appointed by the Securities and Exchange Commission as the domestic ranking body of the ACGS, an instrument for the assessment and ranking of PLCs in six participating ASEAN countries – Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
PNB recently achieved a milestone when its total resources reached Php1.03 trillion at the end of March 2019, up Php176 billion or 21% compared to year-ago. The bank registered a consolidated net income of Php1.9 billion for the first three months of 2019, 30% higher compared to the Php1.5 billion reported in the same quarter of last year.