BDO Unibank Inc (BDO), one of the Philippines’ leading banks, is among the recipients of the inaugural ASEAN Corporate Governance Awards Top 50 ASEAN Publicly Listed Companies, a recognition given to companies that seriously upholds good corporate governance.
BDO Unibank (PSE:BDO)’s stock was down 2.32 percent at noon on Monday at the Philippine Stock Exchange. The stock was trading at Php99.15 a share as of 12 noon, down Php2.35 from last week’s close.
In a disclosure to the Philippine Stock Exchange, the bank said the ASEAN Capital Markets Forum (ACMF) gave the award using the ASEAN Corporate Governance Scorecard (ACGS) as basis.
ACMF is composed of capital market regulators from 10 ASEAN jurisdictions – Brunei Darussalam, Cambodia, Indonesia, Laos PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
The ACMF launched a few years back a move to reevaluate the effectiveness of existing capital market incentives and financial regulatory structures with the goal of promoting good governance.
BDO regards corporate governance as an integral part of its successful business strategy, creating accountability throughout the institution and there drives improvement in business results, the listed bank disclosed.
“Over the years, the various recognitions received by BDO related to corporate governance have resulted to the solid trust and confidence of investors, customers and the community in general,” the bank said. – BusinessNewsAsia.com