This website uses information-gathering tools including cookies and other similar technology. Data generated are not shared with any other party. For more information, please refer to our privacy policy.
Deposits are insured by PDIC up to P500,000 per depositor
PDIC is an attached agency of the Bangko Sentral ng Pilpinas
Home  •  Site Map  •  Contact Us  •  PDIC Mail  •  IT Support  •  Privacy Policy  •  FAQs
BOARD OF DIRECTORS   

The Board of Directors (the "Board") is primarily responsible for the governance of the Corporation. The Board is the government's agent in pursuing economic growth and development within the ambit of the Corporation's jurisdiction. To this end, it will be necessary to ensure that only individuals who are fit and proper by reason of their experience, education, training and competence can be appointed as members of the Board of PDIC. PDIC, being created by special law, shall have a Board of Directors composed of the following, as prescribed in its Charter:

  1. The Governor of the Bangko Sentral ng Pilipinas (BSP) who shall be ex officio Chairperson of the Board without compensation.

  2. The Secretary of Finance who shall be the ex officio Vice Chairperson and member of the Board without compensation.

  3. The President of the Corporation, who shall be appointed by the President of the Philippines from a shortlist prepared by the Governance Commission for Government-Owned or -Controlled Corporations pursuant to Republic Act No. 10149, or the “GOCC Governance Act of 2011“ to serve on a full-time basis for a term of six (6) years.

  4. Four (4) members from the private sector to be appointed for a term of six (6) years by the President of the Philippines from a shortlist prepared by the Governance Commission for Government-Owned or -Controlled Corporations pursuant to Republic Act No. 10149


Board of Directors

Eli M. Remolona, Jr.
CHAIRPERSON
Governor, Bangko Sentral ng Pilipinas
Benjamin E. Diokno
VICE CHAIRPERSON
Secretary, Department of Finance
Roberto B. Tan
MEMBER
President, Philippine Deposit Insurance Corporation
Rogelio M. Guadalquiver
MEMBER
Private Sector Representative
Reynaldo F. Tansioco
MEMBER
Private Sector Representative
Juan D. de Zuñiga, Jr.
MEMBER
Private Sector Representative
Aurora C. Ignacio
MEMBER
Private Sector Representative
 
PDIC Board of Directors as of December 31, 2021.
PDIC Board of Directors until June 29, 2022
PDIC Board of Directors until July 19, 2022
PDIC Board of Directors until July 2, 2023


Institutional Governance Framework

Board Committees
Board Committees

Board Risk Management Committee
Board Risk Management Committee

MEMBERSHIP

The BRMC shall consist of at least three (3) members with at least one (1) member having background in finance and investments.

The Chairperson and the Vice Chairperson of the BRMC shall be elected from among the members of the Private Sector Representatives (PSR).

In the absence of the BRMC Chairperson, the Vice Chairperson shall act as the Chairperson during the meeting.

  Actual composition:
  1. Juan D. de Zuñiga, Jr. – Chairperson
  2. Reynaldo F. Tansioco – Vice Chairperson
  3. Eli M. Remolona, Jr., represented by his alternate – Member
  4. Benjamin E. Diokno, represented by his alternate – Member
  5. Roberto B. Tan – Member
  6. Rogelio M. Guadalquiver – Member
  7. Aurora C. Ignacio – Member
   

CHARTER OF THE BOARD RISK MANAGEMENT COMMITTEE OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION1

INTRODUCTION

This Charter establishes the purpose, structure, powers, duties, and responsibilities of the Board Risk Management Committee (BRMC).

PURPOSE

The BRMC shall assist the PDIC Board of Directors in providing risk oversight to the Corporation, consistent with the risk management policy and strategy set by the PDIC Board of Directors.

MEMBERSHIP

The BRMC shall consist of at least three (3) members with at least one (1) member having background in finance and investments.

The Chairperson and the Vice Chairperson of the BRMC shall be elected from among the members of the Private Sector Representatives (PSR).

In the absence of the BRMC Chairperson, the Vice Chairperson shall act as the Chairperson during the meeting.

In case of a vacancy, a new member of the BRMC shall be elected by the Board

The members of the PDIC Executive Committee shall attend as presenters or resource persons with respect to their respective items for presentation. Other persons may be called upon to attend the BRMC meetings as observers/resource persons and to ensure proper appreciation and implementation of directives to address risks.

MEETINGS

The BRMC shall meet at least once a month. The Chairperson of the BRMC may call a special meeting whenever necessary. The presence of majority of the members shall constitute a quorum.

The Committee shall resolve to act on matters brought before it by a majority vote of all members present. All members, including the Chairperson, shall have one (1) vote each.

A notice of each meeting confirming the date, time, venue and agenda shall be forwarded to each member of the Committee at least three (3) working days before the date of the meeting.

The notice to members will include relevant board papers, reports and supporting documents for the agenda items to be discussed.

AUTHORITY

The BRMC shall:

  1. Have complete, adequate and timely access to Management, information and other resources of the Corporation, for any risk issues of the Corporation.

  2. Secure professional advice from directors and officers from within the Corporation and from appropriate external advisers whenever the need for it arises.

  3. Resolve any disagreement regarding risk management issues between RMO and management.

DUTIES AND RESPONSIBILITIES

The primary responsibility of the Board Risk Management Committee is to:

  1. Oversee and evaluate the adequacy and effectiveness of the risk management framework of the Corporation.

  2. Endorse measures that will enhance risk awareness throughout the Corporation.

  3. Foster a culture that takes into consideration risks in the decision-making processes throughout the organization.

  4. Endorse to the Board for notation and/or approval recommendations on how to address risks on proposed policies and guidelines and transactions.

  5. Exercise such other duties and responsibilities which the PDIC Board of Directors may delegate to the Committee from time to time.

SECRETARIAT

The Risk Management Office of the PDIC shall act as the Secretariat of the Committee. As such, it shall ensure that proper minutes are kept of each Committee meeting and submitted to the Committee for approval, and reported to the PDIC Board of Directors.

AMENDMENT

This Charter shall be reviewed at least every two (2) years and recommendations for changes, if any, shall be submitted to the Board for approval.

EFFECTIVITY

This Charter shall take effect immediately upon approval of the PDIC Board of Directors.

____________________________

1As revised per Board Resolution No. 2017-10-138 dated 20 October 2017


Board Audit Committee
Board Audit Committee
 
COMPOSITION

The Board Audit Committee shall be composed of at least three (3) members of the Board of Directors to be nominated and elected by the Board of Director namely: members from the Private Sector Representative and from its non-executive members.

The Chairman and Vice Chairman of the committee shall be elected by the Board of Director from among the Private Sector Representative. In the absence of the Committee Chairman, the Vice Chairman shall act as the Chairman during the meeting.

  Actual composition:
  1. Rogelio M. Guadalquiver – Chairperson
  2. Reynaldo F. Tansioco – Vice Chairperson
  3. Eli M. Remolona, Jr., represented by his alternate – Member
  4. Juan D. de Zuñiga, Jr. – Member
  5. Aurora C. Ignacio – Member
  6. Benjamin E. Diokno, represented by his alternate – Member
   

BOARD AUDIT COMMITTEE CHARTER

INTRODUCTION

This Charter establishes the purpose, authority and responsibility of the Audit Committee of the Philippine Deposit Insurance Corporation.

PURPOSE

The Audit Committee shall support the Board of Director in fulfilling its oversight responsibilities for the financial reporting purposes, the system on internal control, the audit process, and the Corporation's process for monitoring compliance with laws and regulation and the Code of Ethics.

MEMBERSHIP

The Board Audit Committee shall be composed of at least three (3) members of the Board of Directors to be nominated and elected by the Board of Director namely: members from the Private Sector Representative and from its non–executive members.

The Chairman and Vice Chairman of the committee shall be elected by the Board of Director from among the Private Sector Representative. In the absence of the Committee Chairman, the Vice Chairman shall act as the Chairman during the meeting.

In case of vacancy, a new member of the committee shall be elected by the Board.

MEETINGS

The Committee shall meet at least once a month. The Chairperson of The Committee may call a special meeting whenever necessary. The presence of Majority of the members shall constitute a quorum.

AUTHORITY

The Audit Committee is authorized to:

  1. Have unrestricted access to any data or record or order any investigation or consultation on any matter within the scope of its responsibility.

  2. Seek information from directors, employees, external auditors/counsel, and other external parties , as necessary.

  3. Exercise oversight supervision over the internal audit function.

  4. Resolve any disagreement regarding audit issues or finding between management and internal audit.

DUTIES AND RESPONSIBILITIES

The Audit Committee will carry out the following duties and responsibilities:

  1. Oversee, monitor and evaluate the adequacy and effectiveness of the Corporation's internal control system, engage and provide oversight of the Corporation's internal and external auditors and coordinate with the Commission on Audit (COA).

  2. Review and approve audit scope and frequency, the annual internal audit plan, auarterly, semi-annual and annual financial statements before submission to the Board, focusing on charges in accounting policies and practices, major judgemental areas significant adjustment resulting from the audit, going concern assumptions, compliance with accounting standards, and compliance functions with regulatory and COA requirements;

  3. Receive and review reports of internal and external auditors and regulatory agencies, and ensure that Management is taking appropriate corrective action, in a timely manner in addressing control and compliance functions with regulatory agencies;

  4. Ensure that internal auditors have free and full access to the Corporation's records, properties and personnel relevant to and required by its function and that the internal audit activity shall be free from interference in determining its scope, performing its work and communication its results; and

  5. Develop a transparent financial management system that will ensure the integrity of internal control activities throughout the Corporation through a procedures and policies handbook that will be used by the entire organization.

  6. Review with management and the Chief Audit Executive (CAE) the internal audit process, organizational structure, budget and staffing of the internal audit. The CAE shall refer to the head of the Internal audit Group.

  7. Review and concur in the appointment and annual review of the performance, and replacement of separation of the CAE.

  8. Regularly report to the Board of Directors matters discussed and action taken up in the Committee meeting for Board consideration, notation or approval.

  9. Exercise such other duties and responsibilities, which the PDIC Board of Directors may delegate to the Committee from time to time.

CHARTER AMENDMENT

This Charter shall be reviewed at least annually and recommendations for changes, if any, shall be submitted to the Board for approval.

EFFECTIVITY

This Charter shall take effect immediately upon the approval of the Board of Directors


Board Governance Committee
Board Governance Committee

COMPOSITION

The Governance Committee shall be composed of at least three (3) members of the Board and chaired by the Chairman of the Board.

In the absence of the Chairman, the Vice Chairman shall preside during meeting. The Vice Chairman shall be elected by the Committee from among the Appointive Directors.

  Actual composition:
  1. Eli M. Remolona, Jr., represented by his alternate – Chairperson
  2. Aurora C. Ignacio – Vice Chairperson
  3. Benjamin E. Diokno, represented by his alternate – Member
  4. Roberto B. Tan – Member
  5. Rogelio M. Guadalquiver – Member
  6. Reynaldo F. Tansioco – Member
  7. Juan D. de Zuñiga, Jr. – Member
   

    The Nomination and Remuneration Committee is a Board Committee which the GCG requires to be constituted. However, the GCG also recognized that there are GOCCs such as PDIC, which has limited number of Board members. Thus the GCG authorized PDIC to add the functions of the Nomination and Remuneration Committee to one of the existing Board committees.

    In accordance with the said authority, the Board of Directors resolved to add the functions of the Nomination and Remuneration Committee to the Board Governance Committee. This is contained in the Revised Code of Corporate Governance that was submitted and approved by the GCG on January 9, 2015. With this framework in place, the Board Governance Committee will be in a position to exercise the functions of the Nomination and Remuneration Committee.

CHARTER OF THE BOARD GOVERNANCE COMMITTEE OF THE PHILIPPINE DEPOSIT INSURANCE CORPORATION1

INTRODUCTION

The Charter establishes the purpose, membership, authority, duties and responsibilities of the Board Governance Committee.

PURPOSE

The purpose of the Board Governance Committee ("Committee") is to assist the Board of Directors fulfill its corporate governance responsibilities and ensure adherence to the principles and standards of good corporate governance to promote transparency and accountability by:

  1. Defining the institutional framework for sound corporate governance;

  2. Adapting policies and procedures consistent with good governance standards; and

  3. Ensuring the availability of an effective system for monitoring compliance with laws, rules, regulations and policies.

MEMBERSHIP

The Governance Committee shall be composed of at least three (3) members of the Board and chaired by the Chairperson of the Board.

In the absence of the Chairperson, the Vice Chairperson shall preside during meetings. The Vice Chairperson shall be elected by the Committee from among the Appointive Directors.

Any vacancy in the membership of the Committee shall be filled up by the Board of Directors.

MEETINGS

  1. The Board Governance Committee shall meet at least once every two months or as it may deem necessary.

  2. A quorum for Committee meetings shall be majority of the members.

  3. Resolutions at the meeting of the Committee shall be approved by at least a majority of the voting members present at such meeting. Each member, including the Chairperson shall have one (1) vote.

AUTHORITY

The Governance Committee is authorized to:

  1. Deal with, and where applicable, resolve, determine and endorse for Board approval, all matters falling within the scope of its purpose and duties as set out in this Charter;

  2. Meet with and obtain any information/assistance it may require from PDIC officers and staff or its external counsel/auditor/consultants having special competencies, as the Committee may deem necessary to fulfil its responsibilities.

DUTIES AND RESPONSIBILITIES

The Committee shall have the following duties and responsibilities:

  1. Recommend to the Board regarding the continuing education of Directors, assignment to Board Committees, succession plan for the Executive Officers, and their remuneration commensurate with corporate and individual performance;

  2. Recommend the manner by which the Board's performance may be evaluated and propose an objective performance criteria to be approved of the Board, and such performance indicators shall address how the Board will enhance long-term shareholder value;

  3. Oversee the annual performance evaluation of the Board and its Committees through the conduct of an annual self-evaluation of its performance;

  4. Decide whether or not a Director is able to and has been adequately carrying out his/her duties as director bearing in mind the director's contribution and performance (e.g., competence, candor, attendance, preparedness and participation);

  5. Evaluate and endorse to the Board the following:

    1. Proposed policies, guidelines (SOGIs), issuances involving major changes in a process of doing an activity

    2. Reorganization, compensation and other organizational changes

    3. Issues on implementation of external laws/regulations, or fulfilling statutory and regulatory responsibilities

    4. Report of corporate accomplishments and corporate plans

    5. Report on administrative cases

    6. Identified Governance, Risk and Compliance (GRC) issues

    7. Report on updates or implementation of the PDIC Code of Ethics, PDIC Code of Corporate Governance and the Integrity Management Program

    8. Report on the Corporate Governance Scorecard

    9. Appropriate actions for any violation/breach based on the review of the reports submitted thru/by the Corporate Governance Office, and/ or PDIC Management regarding significant compliance issues, general status of level of compliance to relevant laws, rules and regulations, updates and other compliance matters

    10. Other items as may be instructed by the Board, the BGC or President

  6. Prepare a monthly report to the Board of Directors of matters discussed and actions taken up in the Committee meeting for Board consideration, notation or approval;

  7. Exercise the functions of a Nomination and Remuneration Committee under pertinent rules and regulations;

  8. Perform such other functions as may be required by applicable laws, rules and regulations.

CHARTER AMENDMENT

This Charter shall be reviewed every two years and recommendations for changes, if any, shall be submitted to the Board for approval.

EFFECTIVITY

This Charter shall take effect immediately upon approval by the Board of Directors.

____________________________

1As revised per Board Resolution No. 2021-12-177 dated 22 December 2021.


Review of Corporate Vision/Mission and Strategy

Review of Corporate Vision/Mission and Strategy

The PDIC Board of Directors approved the corporate Performance Evaluation Scorecard (PES) for 2015 - 2019 in July 2014. The corporate PES for the years 2016-2017, as approved by the Board last July 22, 2015, were submitted to the Governance Commission for Government-Owned or-Controlled Corporations (GCG) in compliance with the requirements for the 2016 Performance Agreement Negotiation. In early August to late September of 2015, PDIC conducted a strategic planning exercise to update its corporate PES to cover the period 2016-2020.

The corporate PES 2016-2020 was approved by the PDIC Board in its meeting last October 21, 2015. The planning workshop included a presentation of the revised Vision statement and Strategy Map of PDIC. These were submitted to the GCG and became part of the Performance Agreement on November 3, 2015.

In compliance with GCG's call for the conduct of a Technical Panel Meeting (TPM) covering CY 2018 under Memorandum Circular No. 2017-02, PDIC conducted a strategic planning exercise in September 2017 to formulate the Performance Scorecard (PS) for 2018-2020. The said PS was presented to and approved by the PDIC Board on September 20, 2017, which included a presentation of the Vision and Mission Statements. The proposed PS was modified based on the discussions made during the Technical Panel Meeting held on November 21, 2017. Upon approval by the PDIC Board, the PS for 2018-2020 was submitted to the GCG on December 22, 2017.

In September 2018, PDIC conducted a series of pre-planning workshops to: a) revisit the Vision and Mission Statements and Roadmap; and b) review and extend the PS for 2018-2020 up to 2023 (5 years), taking into consideration the internal and external developments that impact on PDIC operations, Board directives and accomplishments on the 2018 PS as of June 30, 2018.

The strategic planning outputs namely, the Vision and Re-stated Mission Statements, Updated Roadmap and PS for 2019-2023 were presented to the PDIC Board of Directors for discussion on September 19, 2018. Based on the results of the discussion, the proposed PS for 2019-2023 was finalized. Upon approval by the PDIC Board on September 25, 2018, the PS for 2019-2023 was submitted to the GCG on September 28, 2018.

The PDIC Board of Directors and Top Management, in collaboration with the Institute of Corporate Directors (ICD), reviewed the Vision, Mission and Core Values of the Corporation on September 11-12, 2019. The revitalized Vision statement, a clearer Mission statement and reinforced set of Core Values, together with the updated Strategic Objectives for 2020-2023, paved the way for the organization's blueprint for the next four years-the PDIC Strategy Map. The objectives that were established based on the four important perspectives namely, learning and growth, internal processes, customers/stakeholders and financial, will drive the Corporation's performance aimed to add value to PDIC stakeholders.

On October 15, 2019, during the Technical Panel Meeting with the GCG, PDIC submitted the Board-approved Strategy Map containing the Vision and Mission Statements, Core Values, and Strategic Objectives and the Performance Evaluation System. In a letter dated January 27, 2020, the GCG transmitted the Board-approved Strategy Map and the Performance Scorecard 2020 with modification. The document was received by PDIC on February 4, 2020. On February 21, 2020, PDIC sent a request for reconsideration on four Strategic Measures (SM). PDIC received GCG's response on March 3, 2020, noting that it took into consideration the justifications presented by PDIC in its request for performance scorecard modification and the supporting documents during the validation of PDIC's accomplishments for 2020.

In view of the pandemic, the Board reviewed the Performance Scorecard that will impact on the achievement of the Strategic Objectives and the Corporate Vision. On July 22, 2020, the Board approved the proposed revisions to the PS 2020 that take into account the impact of Covid-19 as well as the economic environment and developments especially in the health sector. On July 30, 2020, PDIC submitted the Board-approved revised PS 2020 to the GCG together with a request for a meeting to discuss the proposed revisions. On August 7, 2020, GCG requested other documents relevant to the impact of COVID-19 to PDIC operations. These documents were submitted to the GCG on August 24, 2020.

On September 3, 2020, in a meeting between PDIC and the GCG, the latter mentioned that they would issue a Notice to GOCCs on the Recalibration of Targets in the 2020 PS. GCG informed PDIC that it has already submitted most of the documents being required and that PDIC can just refer to the original submission requesting for the revisions to the 2020 PS and submit the additional requirements and updates on financial documents.

On September 4, 2020, GCG issued a Notice to all GOCCs on the Recalibration of Targets in the 2020 PS of GOCCs. On September 21, 2020, PDIC submitted to the GCG the required additional documents.

On September 30, 2020, the PDIC Board of Directors approved the additional revisions to the PDIC Code of Corporate Governance (CCG), which consist of the inclusion of the amended PDIC Vision, Mission, Quality Policy and Core Values. The revised PDIC CCG was submitted to the Governance Commission on October 8, 2020.

The GCG-approved PDIC Recalibrated 2020 Performance Scorecard dated December 7, 2020 was then transmitted by GCG to PDIC and subsequently posted on PDIC website.

In compliance with GCG's call for the conduct of Technical Panel Meeting for the 2022 PES, the PDIC Board, with the assistance of the ICD, conducted a Strategic Planning session with the PDIC Management from June 22, 2021 to August 18, 2021 to revisit the Vision and Mission Statements, and set the Strategy Map for 2022-2023, taking into consideration the internal and external developments that impact on PDIC operations. During the Strategic Planning, the Vision Statement was revised to give emphasis as a leading institution in governance, recognized for its operational excellence in depositor protection and responsiveness to changing times. During the strategic planning session, in addition to the existing Balanced Scorecard Perspectives of Financial, Customers/Stakeholders, Internal Process and Learning and Growth, the perspective on Socio-Economic Impact was included to highlight PDIC societal contribution. Likewise, giving importance to PDIC's role in times of crisis, the theme Crisis Readiness was added to its Strategy Map. The revised Vision, updated Strategy Map and proposed PES for 2022-2023 were approved by the PDIC Board last August 25, 2021 (Board Resolution No. 2021-08-107). The same was used in the Technical Panel Meeting with the GCG conducted on November 3, 2021.

In preparation for GCG's call for the conduct of Technical Panel Meeting for the 2023 PES, the Board, in a Strategic Planning session with the PDIC Management on 10 August 2022 conducted a review of the PDIC's Vision, Mission and Strategy Map. The Performance Scorecard 2023-2024 which provides for the Strategic Objectives (SOs) that support the attainment of the Vision was approved by the Board, along with the reviewed Strategy Map on 24 August 2022.

Implementation of the Corporate Strategy

Implementation of the Corporate Strategy

The Board of Directors monitors/oversees the implementation of the corporate strategies by reviewing and approving the Quarterly Report on Corporate Performance, which are submitted to the GCG and uploaded in PDICs website, in compliance with GCG Memorandum Circular No. 2017-02 on the Interim Performance Evaluation System (PES) for the GOCC Sector.

Board Meetings

Board Meetings

Board Meetings 2015

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings.

In 2015, the Board of Directors met for all of the 25 meetings held for the year. Three of the five Directors/ Alternates attended at least 90% of the Board meetings for 2015.

In the March 18, 2015 Board meeting, the members of the Board met separately without President Cristina Q. Orbeta where the latter left early for a meeting in Malacañang.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensures that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2016

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings.

In 2016, the Board of Directors met for all of the 21 meetings held for the year. Three of the five Directors/ Alternates attended at least 90% of the Board meetings for 2016.

In the April 4, 2016 Board Governance Committee meeting, the members of the Board met separately without President Cristina Q. Orbeta.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensures that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2017

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings.

In 2017, the Board of Directors met for all of the 21 meetings held for the year. Six of the seven Directors/Alternates attended at least 90% of the Board meetings for 2017.

On December 18, 2017, the members of the Board met separately without President Roberto B. Tan.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensures that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2018

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings.

In 2018, the Board of Directors, met for all the 23 meetings held for the year. Six of the seven Directors/Alternates attended at least 90% of the Board meetings for 2018.

On October 24, 2018 and October 26, 2018, the members of the Board met separately without President Roberto B. Tan.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensures that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2019

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings. (Please refer to the file 2019 Proposed Schedule of Board and Board Committee Meetings presented to the Board in the 5 December 2018 Board Meeting.)

In 2019, the Board of Directors, met for all the 27 meetings held for the year. Seven of the seven Directors/Alternates attended at least 90% of the Board meetings for 2019.

On 11 December 2019, the members of the Board met separately without President Roberto B. Tan.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensure that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2020

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings. The 2020 Proposed Schedule of Board and Board Committee Meetings was presented to the Board during the 9 December 2019 Board Meeting.

In 2020, the Board of Directors met for all the 30 meetings held for the year. The actual dates of the Board and Board Committee meetings are found in the Board and Board Committee Meetings (Scheduled vs. Actual) 2020. Six of the seven Directors/Alternates attended at least 90% of the Board meetings for 2020.

On 25 November 2020, the members of the Board met separately without President Roberto B. Tan.

To make sure that the members of the Board are promptly informed of important and relevant information for intelligent and accurate decisions, the existing guidelines ensure that all members of the Board are provided with copies of the Board materials not later than three working days before the scheduled Board meeting. In case of urgent issues/matters to be discussed, a comprehensive management presentation of the issues precedes a discussion of the Board and all members of the Board are given sufficient time to ask questions and raise their concerns on the matter.

Board Meetings 2021

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings. The 2021 Proposed Schedule of Board and Board Committee Meetings was presented to the Board during the 9 December 2020 Board Meeting.

In 2021, the Board of Directors met for 100% of the scheduled Board meetings. Please see the 2021 Board and Committee Meetings (Schedule vs. Actual). Six of the seven Directors/Alternates attended at least 90% of the Board meetings for 2021.

On 13 October 2021, the members of the Board met separately without President Roberto B. Tan.

The existing SOGI on the Conduct of Board Meetings and Management of Board and Other Corporate Documents (effective January 25, 2021) provides:

"8.1.9 Distribute to all members of the BOD copies of the Board memoranda and materials by uploading in the official digital file sharing platform, at the soonest possible time but not later than three (3) working days before the scheduled BOD meeting."

Board Meetings 2022

Board meetings are scheduled at the beginning of the year to enable Board members to calendar and block off proposed dates. The Corporate Secretary coordinates with the members of the Board regarding their availability for the year before fixing the dates of the meetings. The 2022 Proposed Schedule of Board and Board Committee Meetings was presented to the Board during the 9 December 2021 Board Meeting.

In 2022, the Board of Directors met for 83.33% of the scheduled Board meetings. Please see the 2022 Board and Committee Meetings (Schedule vs. Actual). Six of the seven Directors/Alternates attended at least 90% of the Board meetings for 2022.

On 23 November 2022, the members of the Board met separately without President Roberto B. Tan. Please see the Certification Meeting without the PCEO as reference.

The existing SOGI on the Conduct of Board Meetings and Management of Board and Other Corporate Documents (effective January 25, 2021) provides:

"8.1.9 Distribute to all members of the BOD copies of the Board memoranda and materials by uploading in the official digital file sharing platform, at the soonest possible time but not later than three (3) working days before the scheduled BOD meeting."

Board Appraisal

Board Appraisal

The Board of the Directors conducts an assessment of its performance as a functioning unit through a self-assessment process. Here, assessment is done with the help of a questionnaire which each Director must accomplish. There are ten items in each criterion with a rating scale from 0 to 10 (being the highest) and the total points are rated from 0 to 100 points (100 as Outstanding and below 60 as Unsatisfactory). The criteria in the assessment are based on attributes relating to the role of the Board as a whole and the role of an individual Board member.

The Board of Directors likewise conducts an annual assessment of its performance using the Performance Evaluation for Directors (PED) System prescribed in GCG Memorandum Circular (M.C) No. 2014-03. The said circular states the process and criteria used to evaluate the performance of the directors. One of the components of the PED System is the Directors Performance Review (DPR), wherein the Directors accomplish self-appraisal and peer-appraisal forms through http://iped.gcg.gov.ph or the internet-based PED System.

Board Committee Appraisal

Board Committee Appraisal

The Board of Directors has approved the implementation of the annual assessment of the performance of the Board Committees starting calendar year 2017. All members of the Board Governance Committee, Board Audit Committee and Board Risk Management Committee answered a performance assessment form for each Board Committee to evaluate their performance, and identify strengths and areas of improvement. The duties and responsibilities of the Board Committees as stated in their respective Board Committee charters were the basis of the criteria used in the performance assessment form.

Continuing Education

Continuing Education

The Office of the Corporate Secretary provides support services to the members of the Board, including organizing orientation briefings for new Directors of the Corporation.

For this purpose, the new Directors are provided a Director's Kit which contains the following:
  • I. Overview
  • II. Organizational Structure, Human Resource (includes Organizational Structure and Functional Charts)
  • III. Governance
    • Risk Management Office
    • Board Audit Committee
    • Corporate Governance Office
  • IV. Deposit Insurance
  • V. Examination and Resolution
  • VI. Receivership and Liquidation
  • VII. Relationship with Other Agencies and Public Awareness Campaign
  • VIII. Deposit Insurance Fund and Financial Highlights
  • IX. Update on PDIC Charter Amendments
  • X. Information Technology - Information Systems Strategic Plan (ISSP)
Other materials provided include the following: Codes of Ethical Behavior; Standard Operating Guidelines and Instructions (SOGI) on Legal Assistance and Indemnification; PDIC Whistleblowing Policy; PDIC's Freedom of Information (FOI) Manual and Implementing Details; and Relevant Issuances.

As part of the Corporation's continuing education for all Directors, they are regularly updated of applicable laws, rules and regulations. The Directors are also informed of relevant upcoming conferences, courses, trainings and seminars. The Corporation arranges and funds training sessions and seminars attended by the Directors.
PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
to insure the deposits of all banks. PDIC exists to
protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability
This website is best viewed using Internet Explorer 11
Questions? Need Help? Click Frequently Asked Questions Trunkline.: (632) 8841-4000
Hotline: (632) 8841-4141
(for Metro Manila clients)
Fax No.: (632) 8841-4085
Email: pad@pdic.gov.ph
Client outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
1-800-1-888-PDIC