GCG cites PDIC as top 2 GOCC in 2024 ranking

The Philippine Deposit Insurance Corporation was recognized as one of the top-performing government-owned or -controlled corporations (GOCCs) in the country, placing second among 11 GOCCs that earned the highest ratings in the 2024 Corporate Governance Scorecard.

The Governance Commission for GOCCs, or GCG, implements the scorecard based on international corporate governance benchmarks.

PDIC received an “Outstanding” rating with a score of 102.6, tying with the National Electrification Administration for the second-highest spot in the annual rankings.

“The recognition reflects the Corporation’s continuous commitment to upholding the highest standards of good governance,” said PDIC President Roberto B. Tan.

“This is a fitting tribute to the men and women of PDIC for their professionalism, commitment, and responsiveness in our day-to-day operations. Our goal is to provide exemplary service to the depositing public so they can feel safe and confident in the country’s banking system,” he added.

The award affirms PDIC’s efforts in strengthening governance practices and achieving its vision of being “a key pillar in promoting financial stability by providing depositor protection responsive to changing times, earning the continuing trust of the public.”

The GCG adopted the Corporate Governance Scorecard for GOCCs to raise governance standards among state-run firms and align them with the best practices of their ASEAN counterparts.

It is modeled after the ASEAN Corporate Governance Scorecard and based on the Principles of Corporate Governance for State-Owned Enterprises by the Organization for Economic Cooperation and Development.

The CGS evaluates GOCCs in three key areas—stakeholder relations, disclosure and transparency, and board responsibilities.

PDIC has consistently been recognized as one of the best-governed GOCCs since 2014.