As of December 2018, the Board is composed of nine members, including five independent directors (ID), and four executive directors. Profiles of the members of the Board are provided in this Annual Report.

The members of the Board comply with the fit and proper rule of the Bangko Sentral ng Pilipinas (BSP), as well as the qualification and disqualification parameters set forth by the Securities and Exchange Commission (SEC). Board members hold office for one year or until their successors are elected and qualified in accordance with the Bank’s By-Laws. The Bank has adopted fit and proper standards on directors and key personnel, taking into consideration their integrity/probity, technical expertise, physical/mental fitness, competence, relevant education/financial literacy, diligence, and knowledge/experience/training.  The qualifications of those nominated to the Board, as well as those nominated for positions requiring appointment by the Board, are reviewed and evaluated by Corporate Governance and Compliance Oversight Committee (CGCOC)/Nomination Committee (NOMCOM).

In March and December 2018, the Board accepted the resignations of Messrs. Laurito E. Serrano and  Nonilo C. Cruz. In July and September 2018, Mr. Jose A. Nunez Jr. and Cesar A. Rubio were elected as new directors, respectively. In December 2018, Mr. Alfonso B. Cruz Jr. passed away.

Board Composition