April 16, 2025Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC), is proud to announce that its Internal Audit Division has been recognized with an External Quality Assessment (EQA) by Isla Lipana & Co., the Philippine member firm of the global professional services network PricewaterhouseCoopers (PwC). The recognition was formally presented on April 2, 2025 at the BankCom Head Office by Ms. Maria Rosell Gomez, Partner and Risk Services Leader of Isla Lipana & Co./PwC Philippines to BankCom President & CEO Michelangelo Aguilar, Senior Vice President Reginald Nery, and First Vice President and Chief Audit Executive Joel Longalong. Isla Lipana & Co./PwC Philippines completed the External Quality Assessment Review in accordance with the International Standards for Quality Assessment of Internal Audit Activity covering the period from January 1, 2023 to October 31, 2024. The assessment concludes that BankCom’s Internal Audit Division Generally Conforms to the standards, confirming that its internal audit activities are aligned with a charter, policies, and processes that meet the International Standards for the Professional Practice of Internal Auditing and the Code of Ethics as promulgated by The Institute of Internal Auditors. “We are honored that our Internal Audit Division has been recognized through this External Quality Assessment,” said BankCom President & CEO Michelangelo R. Aguilar. He further shared, “This recognition from PwC is a testament to BankCom’s unwavering commitment to excellence and our dedication to delivering on our service promise to all our valued customers.” About Bank of Commerce An affiliate of San Miguel Corporation (SMC) since 2008, Bank of Commerce is a publicly-listed universal bank focused on helping its clients, communities and conglomerate partners by delivering the best choice of financial services harnessing the strengths of the SMC Group. Bank of Commerce is identified by its logo bearing the SMC symbols of escudo and cloverleaf, and by the trademark license short name “BankCom” granted by the Intellectual Property Office (IPO) in 2020. BankCom traces its origins to the Overseas Bank of Manila which opened in Binondo, Manila in 1963. BankCom posted a net income of Php 3.02 billion as of 31 December 2024, up by 8% from Php 2.8 billion in 2023. This is the highest profit level since becoming an SMC affiliate in 2008. As of March 2025, BankCom maintains a network of 140 branches and 270 Automated Teller Machines (ATMs) including Cash Kiosks strategically located nationwide.