The bank is the only financial institution to earn this honor three times, underscoring its commitment to governance excellence.
Out of the five awardees, four are from the SM Group: Chinabank, BDO, SM Investments, and SM Prime Holdings.
Management’s view
“We are very proud of the progress we have made, but CBC remains focused on continuously raising the bar, staying ahead of emerging trends, and adapting to the evolving regulatory landscape,” Chinabank chief finance officer Patrick Cheng said in a statement.
Top score
The awards were presented on September 19, 2024, during a ceremony at the Manila Marriott Hotel.
A total of 111 publicly listed companies and 25 insurance firms were recognized based on the 2023 ASEAN Corporate Governance Scorecard (ACGS), with the top performers receiving the Five-Golden Arrow Award for scoring 120 to 130 points.
Chinabank’s consistent governance performance has also earned it recognition in the 2022 ASEAN Capital Markets Forum (ACMF) as a top corporate governance performer in the ASEAN region and among the top three in the Philippines. It was also featured in TIME’s World’s Best Companies 2024 for its excellence in employee satisfaction, revenue growth, and ESG performance.
