Security Bank Corporation (SBC) was awarded for excellence in corporate governance at the 8th Corporate Governance Asia Recognition Awards 2012 recognizing The Best of Asia among publicly-listed companies in the region. This is the 3rd consecutive year that the bank was cited for its ability to implement excellent standards of corporate governance and leading the way in promoting a strong commitment to uphold company values and stakeholders’ rights.
Corporate Governance Asia is the region's most authoritative journal on Corporate Governance. It provides news and analysis on corporate governance issues, boardroom practices and shareholder activism. It remains the key driver of economic activity in Hong Kong and Asia. Because of this, the quality of corporate governance has become increasingly important to determining the competitiveness and dynamism of the corporation in today's fast-moving and highly-competitive global markets.
Criteria used in choosing the winners include noteworthy achievements by the companies such as a previous, publicly-acclaimed track record in corporate governance and the execution of significant and specific CG-related reforms in the past 12 months. The publication also considered the awardees’ contributions in growing their companies’ business, social responsibility and environment protection, as well as efforts to raise the standards of corporate governance practice in the Philippines.
Security Bank Senior Vice President and Treasurer Raul Martin Pedro received the award on behalf of the Bank at the awards night held on June 20 at the Renaissance Harbour View Hotel in Hong Kong.
This international award comes on the heels of the Silver Award won recently by SBC as one of the Top-scoring Publicly-Listed Companies (PLCs) by the Institute of Corporate Directors' (ICD) in its 2011 CG Scorecard. The CG Scorecard recognizes companies that promote good corporate governance practices beyond compliance based on the principles of accountability, transparency, and integrity. The 2011 CG Scorecard is a joint project of the ICD and the Center for International Private Enterprise (CIPE) in Washington, D.C.