Corporate Governance Asia awarded BDO Unibank Inc. with Asia’s Icon on Corporate Governance for the 14th time. The icon award recognizes the best of the best in corporate governance in Asia for setting the benchmark of what CG should be.
The country’s largest bank also took home Asia’s Outstanding Company on Corporate Governance Award for its consistently high CG standing, while BDO chairperson Teresita Sy-Coson and president and chief executive Nestor Tan were co-awarded with the Asian Corporate Director Recognition Award for their exemplary leadership.
“Corporate governance is now deeply embedded in Asia, which in many ways, serves as an attractive proposition for investors to park their capital in this region,” said Corporate Governance Asia founder and publisher Aldrin Monsod.
“Corporations here have adopted and continue to adapt to the best international practices that have made Asia an important investment destination for global fund managers,” Monsod said.
For Tan, CG is valuable in maintaining a healthy, financially-sound and well-managed bank. “It is a key driver towards our sustainable growth and long-term value creation,” he said.
BDO’s CG practice is recognized as one of the best in the Philippines. With a high score on the Asean CG Scorecard, the bank is one of the Top 50 Asean publicly-listed companies in corporate governance.
Having an award-winning CG practice bodes favorably among foreign investors. BDO has received an over subscription in its capital market offerings, one of the clear indications that it is a good credit risk as an issuer.
“We are always looking out for our clients. To serve them in the best possible way, we constantly evolve our CG practices to support the requirements of the changing business landscape, comply with new regulations and align with international best practices,” said Tan.
Corporate Governance Asia publishes news and analysis on CG issues, boardroom practices and shareholder activism. Now in its 14th year, its Best of Asia Awards celebrates the success of companies that adhere to the highest CG standards. Awardees have integrated effective environmental, social and governance practices across their business. They are also awarded for the quality of their management, their business model, growth prospects, financial performance and relative position in their industries.
“Part of getting recognized entails the responsibility to maintain our performance and if possible, exceed it. We welcome this challenge in keeping with our We Find Ways service philosophy, knowing that our clients stand to benefit further from our improvements,” said Sy-Coson.