The Board composition ensures that its members are diverse yet efficient, rendering a healthy balance of mutually complementary traits, along with independence of character. The Board ‘s primary duty is to provide the Bank’s overall leadership, strategic oversight, and control environment to achieve its ultimate goal of maximizing long-term value for shareholders while considering sustainability for its stakeholders and adhering to the principles of good governance and accountability.

Board succession is ensured through the Nominations Committee, which is tasked to conduct pre-screening through assessment against policies and regulatory requirements. Upon the conclusion of the vetting process, a final list is prepared wherein nominee details required by law are made available to the appropriate government agency-in-charge.

The Bank’s Corporate Governance Manual enumerates the duties and functions of the Board as a whole. It determines the company’s purpose, vision, mission and strategies while ensuring that the Bank complies with relevant laws, regulations and codes of business best practices. Further, the Board ensures that a system of checks and balances is in place so that risks are identified, prevented or mitigated. The Board is also expected to set the tone from the top in terms of shaping the company culture.

The Board Chairperson works closely with the President and Chief Operating Officer. This complementary relationship provides appropriate balance of power, increased accountability, and independent decision making by the Board while management having the responsibility to execute strategic plans of the Bank.