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Related Party Transaction Committee

Committee roles and responsibilities


The Related Party Transaction Committee is charged with ensuring that the Bank's dealings with the public and various stakeholders are imbued with the highest standards of integrity. It independently reviews, vets, and endorses all related party transactions such that these transactions are dealt on terms no less favorable to the Bank than those generally available to an unaffiliated third party under the same or similar circumstances. The Chief Audit Executive and Chief Compliance Officer sit in committee meetings as non-voting members.

Committee composition (Term 2022-2023)


Chairman Ignacio R. Bunye
Independent Director
MembersRené G. Bañez
Non-Executive Director
Maria Dolores B. Yuvienco
Independent Director


During 2021, the committee members attended meetings as set in the following table:


Office

Name

Date of Appointment

Attendance / Meetings

%

Years served on Committee

Chairman (ID)

Ignacio R. Bunye

Apr. 20, 2017

12/12

100%

4.7

Member

Rene G. Bañez1

Aug. 18, 2021

4/4

100%

0.5

Member (ID)

Maria Dolores B. Yuvienco

Apr. 25, 2019

12/12

100%

2.7

Member

Rebecca G. Fernando2

Apr. 10, 2014

7/8

88%

7.0

Non-Voting Member

Rosemarie B. Cruz,

(Chief Audit Executive)





Non-Voting Member

Noravir A. Gealogo,

(Chief Compliance Officer)





1Committee member effective Aug. 18, 2021
2Committee member until Aug. 17, 2021


Committee Performance


As part of the annual Board effectiveness review, a separate exercise was conducted to assess the Committee’s 2021 performance. The survey found the Committee to have performed its duties and responsibilities effectively.


Committee Charter


Click here to read the Related Party Transaction Committee charter.