The Land Bank of the Philippines has once again been recognized as the top government-owned and controlled corporation (GOCC) for corporate governance, achieving an unprecedented score of 104 percent on the GCG Corporate Governance Scorecard.
State-run Land Bank of the Philippines announced it was awarded the top government-owned and controlled corporation (GOCC) for the second consecutive year, earning the highest rating for corporate governance in 2023 from the Governance Commission of GOCCs ( GCG ). The lender achieved an unprecedented rating of 104 percent on the GCG ’s Corporate Governance Scorecard (CGS), surpassing the rating ceiling of 100 percent.
The CGS is an evaluation tool that assesses the corporate governance practices of GOCCs, utilizing a methodology aligned with international standards. LandBank president and chief executive Lynette Ortiz stated, “Being recognized anew as the top GOCC for corporate governance reflects LANDBANK’s steadfast commitment to transparency, accountability, and excellence in public service. This recognition motivates us further to continuously cultivate a culture of good governance, ensuring that we remain a reliable and trusted partner in fostering inclusive and sustainable growth across the nation.” Executive Secretary Lucas Bersamin, along with GCG chairperson Marius Corpus and commissioners Brian Keith Hosaka and Geraldine Marie Berberabe-Martinez, presented the award to LandBank during the 2024 GCG awards ceremony at the PICC Complex in Pasay City. LandBank director Virginia Orogo received the award on behalf of the bank, accompanied by executive vice president Liduvino Geron, senior vice president Roderick Sacro and vice presidents Myra-Lyn Peñalosa, May Arizabal and Nikkolas Tolentino. LandBank also reported ranking among the top-performing GOCCs in the 2023 GCG Performance Evaluation System (PES), which evaluates GOCC achievements based on performance criteria, targets, and weighted indicators outlined in the Performance Scorecard. The bank additionally received a Sustainability Award for its exceptional dedication to sustainability values and practices
CORPORATE GOVERNANCE LAND BANK OF THE PHILIPPINES GCG PERFORMANCE EVALUATION SUSTAINABILITY
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