RCBC adheres to the basic principles of good corporate governance, namely: transparency, accountability and fairness.
The Bank's corporate governance policies and rules are embodied in the board-approved Corporate Governance Manual which is updated and revised annually, with the objective of continually aligning the Bank's policies with the BSP and SEC issuances as well as international best practices on corporate governance. This also ensures that the interests of stockholders and stakeholders are always taken into account, the directors, officers, and employees are aware of their responsibilities and the business of the bank is conducted in a safe and sound manner.
The Corporate Governance Manual covers the following:
Transparency/Commitment to Disclose Material Information
Stockholders' Rights and Protection of Minority Stockholders' Interests
The 2015 Revised Corporate Governance Manual incorporates ASEAN Corporate Governance Scorecard requirements, as follows:
Limit of outside board seats to five, unless there is good justification for a greater number of outside board seats and these do not interfere with the amount and quality of time and attention of the director to the bank
Requirement for directors to report to the company dealings in company shares within three (3) business days from the date of the transaction