For the second year running, the Development Bank of the Philippines (DBP) has secured the highest honor for corporate governance among all state-run corporations in the country. The bank was declared the top-ranked Government-Owned and Controlled Corporation (GOCC) in the 2024 Corporate Governance Scorecard (CGS) released by the Governance Commission for GOCCs (GCG).
A Testament to Institutional Integrity and Discipline
DBP President and Chief Executive Officer Michael O. de Jesus announced this significant achievement. He emphasized that this recognition validates the bank's enduring dedication to upholding the highest standards of corporate governance. According to de Jesus, this strong governance foundation is crucial for maintaining operational discipline and institutional integrity, which in turn enables DBP to effectively carry out its development financing mandate for the nation.
The state-owned bank, which is the 10th largest bank in the Philippines by assets, plays a pivotal role in providing credit support to four key economic sectors: infrastructure and logistics; micro, small, and medium enterprises (MSMEs); environment; and social services and community development.
Rising Score Reflects Continuous Improvement
The GCG, established under Republic Act No. 10149 or the GOCC Governance Act of 2011, is the central body tasked with strengthening governance across all state corporations. Its Corporate Governance Scorecard is a rigorous assessment tool that benchmarks GOCCs against international standards, including the principles set by the Organization for Economic Cooperation and Development (OECD) and the ASEAN Corporate Governance Scorecard.
In the latest evaluation, DBP achieved a final CGS score of 104.17 percent. This marks a notable increase from its previous score of 102.67 percent, demonstrating the bank's commitment to not just maintaining but enhancing its governance practices.
A Collective Effort for the Filipino People
De Jesus credited this accolade to the unified hard work of all DBP employees. He stated that the team has built upon proven principles of good governance and has successfully launched the bank's strategic initiatives for 2026.
Looking forward, the DBP chief expressed hope that this latest citation from the GCG would serve as a powerful inspiration. The goal is to further refine the bank's governance policies and mechanisms, ensuring that its programs and services become even more responsive to the needs of its most important stakeholder—the Filipino people.
